Jurisdiction(s):
United Kingdom

LCAM Blockchain Expedited Arbitration for Web3 Bug Bounties: agreement formed on filing, anonymity, redacted awards, documents‑only process, fixed fees, and on‑/off‑chain enforcement with a London seat

Published by a LexisNexis Arbitration expert

Practice notes

Context

The London Chamber of Arbitration and Mediation (LCAM) has partnered with Immunefi, a blockchain security platform, to develop the LCAM Blockchain Expedited Arbitration Rules (the 'Rules'), a bespoke arbitration framework designed for actors in the security vulnerability market. Immunefi is an online hub linking blockchain projects with security researchers, offering tooling to run security testing and to report the weaknesses they uncover, helping to prevent hacks. When these researchers — often called 'whitehat hackers' — find qualifying on-chain vulnerabilities, they can seek a reward known as a 'bug bounty', with advertised sums reaching multimillion-dollar levels. In this setting, bug bounty disputes emerge where a blockchain project and a security researcher fall out over the security work performed on the project. Such disagreements may manifest in several ways, including arguments about whether the reported vulnerability exists at all, debates over its alleged severity, or issues concerning payment of the bug bounty itself. These Rules set out a tailored arbitral scheme aligned with needs of participants in this market, for disputes arising from security research and bug bounty arrangements...

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Lucy Pert

Hausfeld & Co LLP

Lucy has extensive experience of managing complex, high stakes, cross-border commercial dispute in the English High Court and pursuant to multiple arbitral rules. Lucy has a particular focus on financial services, contentious restructuring, insolvency and shareholder disputes. Having previously worked for a leading global litigation funder, Lucy really understands the economics of disputes and can bring unique insights to assist clients with litigation funding. Lucy also frequently advises third party funders with external due diligence or on-going support. Lucy is qualified in New York as well as England and Wales, having begun her career in 2002 working for Paul, Weiss in Manhattan. She returned to England to continue her career first at Freshfields and then at Quinn Emanuel. She speaks fluent French....

Edward Nyman

Hausfeld & Co LLP

Edward is a skilled litigator focusing on complex commercial dispute resolution, arbitration and the private enforcement of competition law. His experience extends to high-value litigation and arbitration, having played a pivotal role on several multi-million-pound disputes in the High Court and competition damages claims in the Competition Appeal Tribunal on behalf of consumers, SMEs and multinational corporates. He has also written extensively on matters ranging from alternative dispute resolution to AI....

Web page updated on 21/05/2026

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