Coinbase’s bug bounty program complements traditional audits by providing continuous external security scrutiny from the broader researcher community, helping uncover vulnerabilities that audits may miss

Quotes that support claims

While traditional, formal smart contract auditing by specialized firms remains a crucial first step in securing blockchain projects, bug bounty programs offer a complementary and continuous layer of defense

This ‘many eyes’ approach often uncovers edge cases, subtle logic flaws, or previously unknown attack vectors that might be missed in a time-constrained audit.

This continuous scrutiny is invaluable in a rapidly changing technological landscape where new threats are constantly emerging, making the ecosystem more resilient over time.