I noticed that new projects this day are not using bug bounty hunters to see how strong their security 🔐 is, it's not because they don't have the money, they raised millions and don't care..
It looks like getting hacked is a big excuse to rob people's money, they can easily blame it on hack and say 'we are sorry we get hacked' where as they pray for it or have it in mind to hacked themselves .
I read somewhere that some bugs bounty hunters find bug for few new projects that could have messed up the funds but the project team do not compensate them and ignore the bounty hunter. It's like saying ' who told you to find a bug?' .
It seems we need to take this seriously, any project that doesn't open door for legit hackers ( bug hunters ) to test-run their security or system and claim they are safuu are really not.
It is because of all these kinds pf stories I avoid projects, they are some investor's favourites but to me, the fastest and easiest way to lose money in crypto is through alts projects, the team usually comprises lazy developers that contribute few or nothing to GitHub, lac of update for the community and inadequate audit. As soon as they received their portion of allocations, they sell almost all and will later abandon the projects and move to a new one abusing decentralization to milk people's money.
You see those hacks we often see in the news, I don't believe them, they are most often than not insider work especially in situations when teams are no longer on good terms, I wouldn't buy the story that where the team held the keys worth millions were comprised or bug from their own mistakes, they don't care, trust me when I sad so.