Markets
What to Know: A Tale of Code and Chaos 🧠
- Ripple, the giant of the digital plains, hosts a $200,000 “Attackathon” with Immunefi to test the XRPL Lending Protocol-because nothing says “trust” like a $200K bounty for finding flaws. 🐞
- The event invites white-hat hackers to probe the codebase, like a farmer checking his crops for pests. But instead of insects, they hunt for vulnerabilities in a protocol that offers uncollateralized loans on the XRP Ledger. Because why have collateral when you can have a spreadsheet? 📊
- The XRPL Lending Protocol aims to bridge traditional credit markets with on-chain finance-because nothing says “innovation” like a ledger that can’t hold a loan without a handshake. 🤝
Fintech company Ripple, a titan in the digital frontier, is partnering with security platform Immunefi for an upcoming “Attackathon” event, designed to put a new decentralized finance protocol on the XRPL through rigorous testing. It’s like a rodeo, but the horses are lines of code and the crowd is full of hackers with coffee. ☕
The event will offer $200,000 in rewards to participants who help identify vulnerabilities in the proposed XRPL Lending Protocol, a new system designed to bring fixed-term, uncollateralized loans to the XRP Ledger. Because who doesn’t want a loan without collateral? 🤷♂️
Attackathon, which runs from Oct. 27 to Nov. 29, will invite white-hat hackers and security researchers to probe the codebase and report vulnerabilities before the protocol goes live. It’s a game of cat and mouse, but the cat is wearing a hoodie and the mouse is a bug. 🐭
Ripple will offer full educational support through an “Attackathon Academy,” including walkthroughs and Devnet environments, to help researchers get familiar with XRPL’s architecture. Because even the toughest hackers need a tutorial. 📘
If a valid exploit is found, the entire reward pool unlocks. If not, $30,000 will be distributed to participants who contribute meaningful findings. A $200K bounty for a bug? Sounds like a fair deal… until the code starts laughing at you. 😂
The XRPL Lending Protocol, governed under XLS-66, takes a different path from typical DeFi models. There are no smart contracts, wrapped assets, or on-chain collateral. Instead, creditworthiness is assessed off-chain, which allows financial institutions to apply their own risk models, while funds and repayments are recorded directly on the ledger. Because nothing says “security” like a ledger that can’t see your credit score. 📖
It is an approach Ripple is pitching as a bridge between traditional credit markets and on-chain finance, offering transparency while keeping regulatory guardrails intact. Institutions that need collateralized structures can still manage those through licensed custodians or tri-party agreements, with the protocol acting as the execution layer. Because why trust a machine when you can trust a lawyer? 🧑⚖️
Researchers will focus on vulnerabilities that could threaten fund safety or protocol solvency. In-scope targets include vault logic, liquidation and interest calculations, and permissioned access controls. Bugs must be reproducible and come with working proof-of-concepts to qualify. Because nothing says “serious security” like a working proof-of-concept. 🧪
The Attackathon covers several linked standards, including XLS-65 (single-asset vaults), XLS-33 (multi-purpose tokens), XLS-70 (credentials), and XLS-80 (permissioned domains). Because even the most secure system needs a checklist. 📋
Read More
- ETC PREDICTION. ETC cryptocurrency
- GBP CHF PREDICTION
- USD BGN PREDICTION
- SOL PREDICTION. SOL cryptocurrency
- USD INR PREDICTION
- SKY PREDICTION. SKY cryptocurrency
- CNY JPY PREDICTION
- USD VND PREDICTION
- GBP CNY PREDICTION
- USD COP PREDICTION
2025-10-16 09:14