Exit scams, popularly referred to as rug pulls, are an ongoing criminal scheme in Web3. A rug pull involves fraudsters robbing a crypto project by liquidating their holdings without warning and leaving investors holding worthless tokens.

Web3 has introduced a new era of decentralized applications (dApps) and blockchain-based systems. As the use of these technologies and the value secured by them grow, the need for secure Web3 development and implementation also increases.

As the decentralized world continues to evolve and gain momentum, the importance of security measures grows in parallel. In this regard, Web3 Bug Bounties have emerged as a vital component of web3 projects. Web3 Bug Bounty programs have become an important tool for developers and ethical hackers. This blog post will explore why it is so beneficial. It will also discuss how it can be used to benefit the security of code.