The Ultimate Guide to the Top for Security Researchers: Setting Sail

This article marks the start of a four-part series. It is the ultimate guide for those who want to rise faster, build reputation, and make lasting impact in the web3 security space. Each part builds on the last, taking you from the foundations to mastery and consistency in results. The series is as follows:

I. Setting Sail — The Intro & Foundation

"You can never cross the ocean until you have the courage to lose sight of the shore."

II. Treasure Maps — Roadmaps to the top and tips for mastering the prerequisites

“A goal without a plan is just a wish.”

III. Navigating the Waters — Guide for auditing and finding bugs one step at a time.

"In calm seas, anyone can steer; mastery is born when the storm arrives."

IV. The Way of the Hunter — The methods & mindset for hunting, and winning bounties.

“You must learn to proceed without certainty.”

1. Setting Sail — The Intro & Foundation

In 2022, if you had a strong knowledge of reentrancy or understood how transferFrom() of an ERC20 token could affect a protocol’s functionality, you’d likely be sitting at the top of the auditor's food chain by now.

But times have changed. The web3 security space is evolving faster than ever, contest platforms are crowded, AI is creeping into research, and the skill bar keeps rising each year, if not in months.

As many new researchers are stepping into this world with literal zero knowledge, the veterans & OGs are working harder than they did when they were newbies. How do you compete? How do you rise to the top and make your mark in a space where talent is abundant and the rewards seem to be getting scarce?

Finding bugs is essential, but at this point, you know it's not just about finding bugs alone but about something deeper, so I want you to know something, this isn't just another roadmap; it's not another security cliché article either. It's a deeper and more experience-based guide, one that shares secrets, patterns, and the mindset that can get you to the top faster than the common pathways laid out there.

So fasten your seatbelt. Let's begin your voyage.

1.1 What Does “The Top” Really Mean?

First off, you have to know what "The Top" means to you, as it can mean different things to different people; it represents different outcomes, from consistent success in public contests to getting private audits, or contributing as part of a professional security firm. Understanding what success looks like for you helps define the roadmap you will need to follow.

For most security researchers, “The Top” can mean one or more of these four things:

1. Dominating contests consistently on platforms like Code4rena, Sherlock, or Immunefi.
2. Winning massive bounties that could set you up for life, and then you can explore different gigs or interests.
3. Joining a security firm that pays you 10× your country's minimum wage.
4. Running private audits where you earn good profit, without competing and having to go through the hassle of duplicates, delays on rewards, or toxic escalations, which are found in some of the above.

You can't go somewhere if you don't know where it is. These are separate paths, so having a good definition of what the top means to you and which path you intend on taking is essential for your journey regardless of the stage you're in; the above gives a summary of the paths most Security Researchers (SRs) are taking to make a mark and earn in the space. However, each has pros & cons which one should be aware of, especially when starting out.

• Contests are the fastest way to improve your skills and earn at the same time; the problem arises from the question "how long can you keep up with this?" Most of the time it leaves you burnt out or vexed, especially in scenarios where you worked so hard and gave your time only to earn pennies. Most of the time you see people who perform very well on contest platforms join firms or start private audits because whilst it is rewarding, it is very hard to stay consistent with this model as an individual (no intent here to downplay contest platforms).

• Bounties give you the highest ROI, but the higher the risk, the greater the rewards. This path reflects that quote in its truest form, where bounties require consistent tolerance to failure and something you can fall back on in cases you don't find worthy bugs. If you are a student or a parent starting out, this isn't the best model/path to follow, but those with strong Web2 backgrounds are always welcome to try this path. However, starting out with bounties might discourage you rather than make you, if you have zero background and no income to fall back on (more on this in "The Way of the Hunter" part).

• Working for Security Firms offers stability a lot of researchers love, but you need a strong track record and a good proof of consistency (POC) in results and excellence, which not everyone who just starts out has. However, it can be built over time in the wild (more on this in "Treasure Maps").

• Private Audits are where many veterans end up and prefer for the reasons given above. This makes you feel like a master of yourself. However, one part of this is being skilled and another is strong marketing to get clients, and the resources to provide them with good value. Most of the time, you need a good reputation of back-to-back peak results that shake the internet or wisdom in terms of marketing yourself online or maybe in conferences.

Whatever “The Top” means for you, this guide is written to help you reach it faster and more efficiently. This is the series' purpose, to provide you with the secrets, the sauce, the Bulgarian juice to enable you with godspeed -- arrive at your destination regardless of the path you have chosen. Road maps and proper tips for excelling on these separate paths are thoroughly examined and explored in "The Treasure Maps" part.

1.2 The Riddles of the Sphinx — Questions You Must Answer

These 2 questions are to be answered honestly by you as you begin your journey.

"It’s all about enjoying the journey and who you become in the process, not necessarily the destination.”

What Is Your Motivation?

You’re already here, so everyone knows you’re motivated, but why?

For some, it's the love of video games translated to finding bugs; for others, it's the desire for financial independence; for a few, it's something that interests them whilst being provided with very nice incentives; some see it as competition, the thrill of coming out on top, or the joy gained from breaking code others feel is indestructible.

An advice that would come off as cliché is "whatever your why, own it!". Don’t let anyone shame your reasons for being motivated, whether it be the pure desire for money. Many top researchers have acknowledged that this fact was what drew them into the space initially before the love for it developed, like how pure physical attraction draws you to a person at first but what keeps you guys going is character and values. Money should be your fuel, not your destination, desire to be more valuable, and focus on doing your best whenever you find the chance, then over time, money will come to you like you never imagined. Your goal should be to enjoy the process, the chase, the learning, and the growth. Because when you love the game, you’ll naturally become better at it.

Having awareness of your reason is a big kick-starter for your success. A quote by Jim Rohn says "reasons come first, answers second." Know your reasons! Please answer this question within yourself, as it will be your drive.

What Are Your Goals?

Motivation mixed with discipline is the engine, your goals are the steering wheel!

When is the finish line for you? What do you want to achieve given a certain time period? These kinds of questions have to be answered very early on, because regardless of your motivation, which is the driving force, without a definite goal you end up in circles. Remember: speed only matters if you're going in the right direction, so a definite goal and timeframe is important, as you need to be able to track your progress at different points of your journey, which will create an awareness to either be grateful for how far you've come, or create a sense of urgency and healthy pressure to increase efforts in the scenario you're far behind your goals.

Set time-bound goals, Ask yourself:
- What do I want to achieve this month, this quarter, this year?
- What skill or topic do I want to master next?
- How much do I want to earn before year’s end?

Setting clear, definite, and time-bounded goals enables you to measure your progress and also maintain your focus across your journey as a security researcher. After doing this part, your goals will become more vivid to you, and it should ensure awareness as you act quickly upon them. Don't procrastinate, don't waste time, as "If you rest for too long, the weeds take the garden".

1.3 The Three Musketeers — Core Pillars of Success

These are the 3 core pillars you must constantly work on throughout your security career. They are the prerequisites that will be dealt with more in "The Treasure Maps", with guides and techniques on how to grow them quickly and efficiently. For now, a short teaser will be down below for what's ahead, also explaining why they matter.

They are as follows:

1. Relationships
2. Skill Set & Discipline for crazy hours
3. Social Media Presence

Building visibility through professional platforms, growing and nurturing strong relationships with peers, and improving deep technical competence are three critical pillars for success in this field. This will be delved into below.

Let’s go! You should be excited about this part.

1. Social Media Presence ~ The Amplifier

“In the age of attention, visibility is power.”

If you notice, I made this the first part and that's because many might downplay it, but those who have harnessed its powers are gaining more ROI than even top companies.

A good instance would be Andy Li and others who built influence by sharing knowledge. Their reach opened doors that skill alone couldn't.

We can mention lots of top SRs earlier on who got jobs via socials even with their in-depth skills. X, Medium, YouTube was what pivoted them and enabled them to create and get jobs. Don't downplay growing on social platforms as it gives people joy to see others achieve or do things they want to achieve also; they'll follow you and appreciate your journey, giving you reputation and urging others with the desire to want to connect with you!

Whilst a huge emphasis is placed on the social media presence, going on socials without innate raw ability is like wearing a gold ring on a pig's nose. The skill set is the propeller for huge traction, so your skill set should be worked on even more than the time you put into growing your social presence.

It is advised that if you're just starting out, improving your skills should be your main goal for now, as the other prerequisites greatly depend on this as a foundation. No one will link you up if you don't have the skills required; no one would connect you if you would spoil their name due to your inability to carry out the tasks they set out for you. No one would follow you on socials if you don't have the backing of consistent results and proof of good knowledge in the field.

The formula is simple:
Skill + Consistency + Visibility = Exponential ROI.

Let your skills back your content. Share real wins and lessons, and your community will grow organically. So then post more often, even when starting out; share your journey because it will be all the more interesting when you start seeing results. Grow your influence, and share your opinions with the world. Don't be shy, don't procrastinate, don't think no one is seeing you because people actually are. When you get results, post them with a little back story on how you found the bugs that earned you those rewards. Be optimistic, and may God be with you!

2. Relationships ~ Your Advantage

It’s not what you know, it’s who you know, and who knows you

Relationships are one of the underrated keys to success, not just in web3 security, but in other areas and beyond.

However, emphasis should be put on it, because it's one of the secrets to getting jobs, private audits, and so much more. There are firms where you see individuals growing each other; do you know the conversations that happen behind closed doors or DMs of different individuals, where a mention of your name would set you up for nice opportunities?

I encourage you to join the Discord channels your local researchers hang out in and engage. Follow up with top auditors and when you promise updates, prove your growth. Attend conferences packed with developers & SRs you know, then use it as an opportunity to connect and build more relationships.

Message and try to grow with other individuals; reach out to top people asking them questions (not dumb ones). As you keep growing, those same people with whom you have previous relations can put you on to good opportunities. Lots of individuals at the top have acknowledged that they have gotten very good opportunities based on the fact that someone else put in a good word for them. That's the power of relationships.

Value them!

3. Skill Set & Discipline ~ The Propeller

Above all, you must be competent and able to find bugs and exploit pathways for vulnerabilities; you can't network your way to skill. Spend every day working, learning, and improving as you constantly participate. Without competence, connections won't last; your social media presence would be a joke. You must put effort into generating yourself a good portfolio that shows you're good at what you do, and that's finding bugs.

Work long, crazy hours if needed, but smartly; hone your strengths, learn new attack vectors, and read past exploits or reports. Expand your knowledge every single day. This requires discipline, because you won't always be motivated, but with discipline, you will improve regardless of how you feel.

Top SRs here spend all their time on the code during reviews, you can't flush out as many bugs in 3 days of focused effort when compared to weeks of the same focused effort. Spend time learning, understanding, brainstorming attack vectors, and communicating with the development team for the time of the review to squeeze out the most value in any audit regardless of the time frame.

That's the level of focus required. You can still see highly skilled researchers mention that they spend hours working and improving themselves despite the amazing results they have gotten in the past; howbeit you, who is not yet at that point?

If you can’t stay consistent for chunks of days, you’re not serious yet.

Discipline yourself to constantly improve and try newer opportunities; stay consistent even after you see crazy results because there is always room for improvement. Focus on your skills, because in every path to the top, skill is required and even independent of other factors can carry you to the heights you wish to attain.

Hone your skills by constant learning and active participation in your work!

Remember: I will drop a concise and adjustable roadmap to improve your skills, then your relationships, then finally your social media presence in the "Treasure Maps" part of this guide

1.4. The Moirai — Supporting Traits

These three build on the Musketeers, where, when the core pillars are being built, they give you more leverage to earn more and grow faster in the space.

Below are the three fates:

1. Skills & Niche
2. Motivation & Discipline
3. Teamups

1. Skills & Niche — Focus > Breadth

One thing is "I have the skills!", but a question to you is "How many people have those same skills you have?" Learning Solidity has become a prerequisite for Web3 security now, so you really have to be exceptionally good at it, as everyone has good knowledge of Solidity. So try out different alternatives, then niche down!

We see a sudden shift in the results/rewards researchers get when they double down on a different language, when compared to the rewards for Solidity-based reviews. In the early days of Solana, those who shifted to it gained more results and respect as they are now spearheading reviews for those kinds of ecosystems, where they are reached out to for private audits before the code is released for contest platforms.

The more you niche, the less you compete, and the more you earn.

2. Motivation & Discipline — Your Long-Term Engine

Discipline sustains motivation when it fades.

Every now and then you see certain researchers outperform many others in certain reviews of which they had previous knowledge of neither the language nor the ecosystem. You can see, it becomes clear that it's not a thing of luck but of discipline and perseverance. To learn all that within a short time span and also find bugs within the same span requires not just skills but the ability to stick with a code you have no idea of, or don't understand, for days until you finally get a grasp of what the development team are trying to do. So having that quality is an added advantage for anyone who possesses it, and if you don't have discipline, start little by little as every action you take for improvement will further strengthen your discipline as the days go by.

Discipline yourself, give yourself the orders, and follow through!

Talent gives you the spark, discipline keeps the flame burning.

Study and master the art of discipline, as it is what separates you from your goal of reaching "The Top".

3. Teamups — Collaboration Multiplies Results

One shall chase a thousand, two shall chase ten thousand.

That’s to illustrate the power of teamwork when utilised properly. Teams have come and dominated platforms and also together found bugs whilst achieving exploits that the separate individuals in the team wouldn't have been able to do on their own if they weren't part of the team.

Team up with those equal to or better than you; they'll challenge and expand your thinking.
Even working with less experienced partners can open new insights. Once, a Junior SR found a missing check that an experienced Lead SR had overlooked. That oversight led to a high-severity finding. Though the Junior didn't know what was going on, upon informing the Lead SR, the senior found that the missing check could be exploited to drain yield from some vaults. Teaming up also enables you to work well in security firms, where a few of you will be required to team up and deliver. The advantages also reflect in bug bounties, where you can see teams winning and saving protocols on bounty platforms. They are also a great way to build relationships and strong connections, which will most likely aid you in the future. Don't overlook chances to team up with others.

Always be open for Teamups!

1.5 The Reefs on the Waters

“More ships are wrecked by hidden reefs than by raging storms, even the Titanic”

These are common mistakes you must avoid; they are traps that could hinder your progress.

1. Feeling You’ve “Arrived” Too Early

"Success breeds pride, pride kills growth."

An observation has been noted where some researchers have gained good results. Then you rarely see those individuals in the space again. Most of the time they spend time out, enjoying the rewards, which isn't bad; however, if you let that pride of a single or few achievements enter your head: first, you stop learning; second, you stop earning; third, you turn to old glory. And before you recover, many of your mates would have surpassed you both in skills and results, so avoid the feeling of arrival. When you make such wins, don't spend, don't show off too much or too quickly; try and create that same result over and over again till you're sure that, yes, you're good enough or as good as people think you are. This helps take away impostor syndrome, which is a very bad feeling to have. So don't stop learning after a win. Replicate success repeatedly before taking pride in your celebration.

2. Being Inconsistent & Outdated

“Beware the reefs beneath calm waters, comfort has sunk more men than storms ever did.”

Avoid complacency, which further leads to inconsistency. The top companies in the world are known for consistency in terms of value; what about you? How consistent can you be? Being inconsistent will make you outdated in any area of life and will cause you to miss very important or life-changing opportunities during such periods of inconsistency. Follow the daily warden, turn on notifications for Telegram, Twitter, and Discord, watch out for new bounties, learn new languages, do contests consistently, learn new DeFi mechanics quickly. The world is fast-paced, and moments of inconsistency will only ruin you. However, don't overwork or burn out your soul; be consistent in good rest also. The best bugs are found in the most unexpected places.

Create a sense of urgency, act fast! Learn quickly and stay consistent in your growth no matter the level you have attained.

3. Not Taking Chances

“A ship in harbor is safe, but that is not what ships are built for.”

Every once in a while, a new contest where only a few SRs participate in it due to either complexity or not feeling like it (maybe the feeling of you have to learn a lot before you can review such a codebase), or a chance to get a job comes and you ignore it. Then when the results are out, you're so amazed as those who participated or took that opportunity changed their lives in the process. Always take a chance on opportunities that make sense; avoid excusing yourself and not doing them, because when the results come out, someone you've never heard of would take home $40,000 and you would be salivating for just $6,000, which the person who got last position in the contest took home. Don't miss opportunities; always create an awareness for them and seize them whenever you see such chances.

The winners you admire are often just the ones who showed up and took chances when others didn't.

1.6 Weighing the Anchor — Conclusion

To begin your voyage you needed to be aware of all the things said above, which are the prerequisites for the coming series. Hope this didn't take much of your time. Prepare for the coming series because specific roadmaps and methods to attaining most of your goals as an SR will be delved into; we would expand on detailed guidelines to finding bugs in codebases of different complexities, strategies to winning bounties, tips for consistent wins, and ultimately the top, which equates to a better and more comfortable life as a Security Researcher.

But for now, remember this!

"The sea is vast, but those who stay the course always reach the shore."

Prepare yourself. The voyage has only just begun, my friend.

At SigmaPrime, we provide independent, expert reviews of blockchain protocols across major and emerging chains. Our engineers combine automated tooling, manual code inspection, on-chain analysis, and economic assessment to produce transparent reports with risk scores and actionable remediation steps. Get in touch to commission a review, request a re-audit, or explore different services we can offer.