White-hat hackers play a critical role in securing the Web3 ecosystem, and yet according to a white hat Nomad exploiter, altruistic hackers aren't paid enough and still operate in an unclear legal landscape, reports:
Intent aside, DarkFi and other white hats performed exactly the same steps as the Nomad exploiters: withdrawing funds without the owners’ permission.
Black hats deliberately exploit the vulnerabilities that they find – looting crypto, blackmailing businesses or selling their discoveries to an underground criminal marketplace. Stephen Tong, co-founder of security audit firm“Black hats are simply looking out for themselves most of the time, whether that’s for profit or entertainment,” Tong told CoinDesk in an interview.
Sometimes, as in the case of Nomad, white hats will discover a bug so severe they decide to exploit it themselves – securing at-risk funds and returning the funds to the protocol before they can be stolen by someone with ill intent. If a white hat took the first option and exploited the vulnerability, “the legal status of what you’re doing is very up in the air. Technically, you can still get sued by a project if you do white-hat work and steal some money to save it from a black-hat hacker,” said DarkFi.
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