TLDR
- Ripple partners with Immunefi for $200,000 bug bounty program targeting XRP Ledger Lending Protocol vulnerabilities
- Security researchers examine 35,000+ lines of C++ code from October 27 through November 29, 2025
- Protocol enables uncollateralized institutional lending without smart contracts, using off-chain credit assessments
- Educational resources and live engineer sessions available through XRPL Attackathon Academy
- XRPL validators vote on protocol this month with potential early 2026 deployment
Ripple has launched a $200,000 bug bounty program in partnership with Immunefi to secure its upcoming XRP Ledger Lending Protocol. The security competition invites researchers worldwide to identify vulnerabilities before the protocol goes live.
The Attackathon runs from October 27 to November 29. Participants will analyze more than 35,000 lines of C++ code to discover potential security flaws. Researchers earn rewards paid in RLUSD stablecoin based on bug severity.
An educational program is already active through the XRPL Attackathon Academy. The academy provides live sessions with Ripple engineers, developer guides, and test environments to help participants succeed.
Jasmine Cooper, Ripple’s director of product, stated the partnership allows collaboration with top security researchers. The program aims to strengthen XRPL’s DeFi infrastructure before institutional adoption.
How the XRP Ledger Lending Protocol Works
The XRPL Lending Protocol introduces fixed-term, uncollateralized loans directly on the XRP Ledger. The system differs from traditional DeFi platforms by avoiding smart contracts and wrapped assets.
Credit assessments happen off-chain, letting institutions use their own risk evaluation models. Funds are pooled and managed on-chain to ensure transparency and security through predefined terms.
The protocol operates under the new XLS-66 standard. This framework brings real-world credit markets into the blockchain environment while maintaining institutional compliance requirements.
Institutions preferring collateralized loans can structure them through regulated custodians. This flexibility combines blockchain efficiency with traditional finance trust models.
Cooper noted that tens of thousands of XRP holders currently lack yield-earning opportunities. The lending protocol aims to activate this untapped liquidity source.
Bug Bounty Program Structure and Rewards
The $200,000 reward pool distributes among all participants if at least one valid vulnerability is reported. Without major discoveries, a $30,000 fallback pool compensates researchers providing valuable insights.
Priority targets include liquidation logic, interest accrual mechanisms, and access control systems. The most critical findings involve vulnerabilities affecting vault solvency or asset security.
Bug bounty programs help developers crowdsource security testing before launch. These initiatives offer financial incentives for ethical disclosure rather than exploitation.
Code vulnerabilities have cost DeFi protocols billions historically. Cetus lost approximately $223 million in May through a security exploit. Euler Protocol lost $197 million in 2023, though funds were eventually returned.
Security Concerns and Timeline
The XRP Ledger faced a security breach in April when hackers compromised developer software to steal private keys. Blockchain research firm Kaiko assigned XRPL a security rating of 41 out of 100 in August, the lowest among 15 analyzed blockchains.
The lending protocol is in final development stages. XRPL validators will vote on protocol implementation this month. Approval could lead to deployment in early 2026.
