Virtuals Protocol recently addressed a vulnerability in one of its audited smart contracts, identified by pseudonymous security researcher Jinu.
By Bhushan Akolkar
Edited by Julia Sakovich
Updated
2 mins read
AI agents blockchain platform Virtuals Protocol VIRTUAL $2.47 24h volatility: 9.5% Market cap: $2.46 B Vol. 24h: $593.29 M recently discovered an unexpected bug in an audited smart contract and issued a timely fix while relaunching the bug bounty program again.
Last month on December 3, pseudonymous security researcher Jinu tried to get in touch with the Virtuals Protocol team after discovering a bug in one of its smart contracts. After reporting the issue, Jinu found that the AI agents platform didn’t have an active bug bounty program that would qualify the researcher for a reward.
Jinu later stated that the Virtuals Protocol tram had also closed the Discord Group created solely with the intent of reporting any vulnerabilities. In a thread on the X platform, Jinu said:
“The vulnerability is simple and can impact the virtuals ecosystem (but virtuals probably doesn’t care about security).”
Jinu also stated that the vulnerability stemmed from insufficient validation during the creation of AgentTokens linked to the internal bond threshold. “If exploited, this vulnerability would have prevented AgentTokens from being generated until the contract was fixed,” he explained.
Soon after Jinu made the information public, Virtuals Protocol reached out to the security researcher while issuing an immediate fix. Although Virtuals Protocol has promptly resolved the vulnerability, they haven’t yet issued a bounty reward program for Jinu. In a message to the researcher, the company expressed gratitude for reporting the issue and apologized for previous miscommunication. The AI agents platform noted:
“Hey jinu we have verified the vulnerability and applied a patch below. Thank you for bringing this up to us and we apologise for the miscommunication between support and yourself. Let us internally review the severity of the issue and we will issue you a bug bounty shortly”.
Crypto market analysts predict that AI agents will be on the radar of investors moving into 2025. Players like Virtuals Protocol (VIRTUAL) and ai16z have already captured the early trend with significant rallies over the past month.
On the monthly chart, the VIRTUAL price is up by 153% as of press time, trading at $4.28 with a market cap of $4.21 billion. However, the AI agents’ cryptocurrency has been on a strong downtrend after hitting the highs of $5 and more during the last month.
On the downside, $4 remains a strong support for the altcoin which the bulls need to defend in order to prevent further price correction.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
