Smart contract auditing platform Code4rena has announced its closure, and Immunefi will take over its bug bounty clients.

CoinFeed reported on May 14th that Code4rena, a competitive smart contract auditing platform, announced it will cease operations, with Web3 security company Immunefi taking over its clients and security researchers. Code4rena stated on its X platform that all ongoing competitions and bug bounties will be terminated, and existing partnerships will be properly closed. Immunefi will assist in migrating bug bounty programs, reward structures, and security researchers. Code4rena focused on a "competitive auditing" model, where independent researchers competed to find smart contract vulnerabilities and earn rewards. In 2024, blockchain security company Zellic acquired Code4rena, which had previously raised $6 million from Paradigm in 2023.