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Code4rena will cease operations, and Immunefi will take over its bug bounty clients.
Golden Finance reports that on May 14th, the smart contract auditing platform Code4rena announced it will gradually cease operations, but all ongoing audit competitions and bug bounty projects will still be completed normally.
Web3 security platform Immunefi then stated it will collaborate with Code4rena to accept its bug bounty clients and security researchers, and assist in migrating bounty scope, rules, and reward structures.
Code4rena was known for its “competitive auditing” model, allowing independent security researchers to earn rewards by discovering smart contract vulnerabilities. The platform received $6 million in funding from Paradigm in 2023 and was acquired by blockchain security company Zellic in 2024.