Billions at risk in crypto security flaws— how Immunefi spots them originally appeared on TheStreet .
In an interview with TheStreet Roundtable , Joe Suzuki, senior account executive at Immunefi , laid out how he helps protocols fortify their defences — calling Immunefi "the largest on-chain security platform in the Web3 space."
Suzuki did not mince words about the stakes. "In Web3 , security is dire. If you're not putting money into your security, you're pretty much opening up for hacks ," he warned — a caution underscored by recent exploits that have wiped out entire liquidity pools.
Building robust defences
Suzuki traced the evolution of Immunefi from a single-purpose bug bounty platform into a comprehensive security provider.
"We're providing everything from audit, audit competitions and everything else from the left to the right and everything in the middle," he explained, underscoring the depth of services now on offer.
Suzuki said projects should "have the very first layer of fuzzing and formal verification," then "everyone's doing their code audit, a comprehensive review where the security researcher or auditor is looking for vulnerabilities, logic errors and inefficiencies," and should also run "audit competitions and bug bounty programs."
Real-world rescues
To illustrate the impact, Suzuki cited two standout successes. "Our security research community was able to find vulnerabilities on the bridge contracts for Wormhole and Polygon. With Wormhole, we saved about $2 billion. With Polygon , it was about a billion at that time," he said, noting the substantial scale of these interventions.
He added: "On our network of security researchers, we have about 45,000 on our platform, and we have over 1,000 elite-level researchers. Those elite-level researchers have made over $100,000 on our platform. And I believe since the start of Immunefi, we made about 20-something millionaires."
While confidentiality agreements may limit public disclosures, Suzuki urged projects and their backers to review Immunefi's bug fix analyses on the company's Medium page.
By integrating advanced verification tools, expert audits and reward-driven programs, digital-asset ventures can shore up defences and avert catastrophic losses.
Billions at risk in crypto security flaws— how Immunefi spots them first appeared on TheStreet on Jun 16, 2025
This story was originally reported by TheStreet on Jun 16, 2025, where it first appeared.
