diff --git a/README.md b/README.md
index 8572751..ba2f7a0 100644
--- a/README.md
+++ b/README.md
@@ -2,6 +2,9 @@
 
 A protocol for handling refunds and chargebacks in a non-custodial manner. This protocol introduces an arbiter system that can mediate disputes between payment senders and receivers, providing a better user experience to stablecoin payments while still allowing receivers to retain control over their funds.
 
+## Security Notice
+We have discovered an issue resulting from the early witdrawal function that allows an arbiter to drain other user's payments. A fix is in development.
+
 ## Setup
 
 ### Prerequisites
@@ -39,4 +42,4 @@ $ forge fmt
 
 ## License
 
-This project is licensed under the Apache 2.0 License - see the [LICENSE](LICENSE) file for details.
+This project is licensed under the Apache 2.0 License - see the [LICENSE](LICENSE) file for details. It has not been audited, comes with no guarantees, and is provided as is. Use at your own risk.
diff --git a/SECURITY.md b/SECURITY.md
deleted file mode 100644
index a637ca2..0000000
--- a/SECURITY.md
+++ /dev/null
@@ -1,4 +0,0 @@
-# Security Policy
-
-## Reporting a Vulnerability
-Please do not file public issues on Github for security vulnerabilities. All security vulnerabilities should be reported to Circle privately, through Circle's [Bug Bounty Program](https://hackerone.com/circle-bbp). Please read through the program policy before submitting a report.