WTF Fun Fact 13302 – Bug Bounty Programs

Have you heard of “bug bounty programs”? No, they’re not about capturing critters in your yard. These programs are run by major tech companies. Companies like Google, Microsoft, and Facebook use these programs to incentivize hackers and security researchers to find and report vulnerabilities in their systems by offering rewards or cash bounties.

Big Tech’s bug bounty programs

Bug bounty programs allow tech companies to identify and address security weaknesses. But more importantly, they do so before the weaknesses can be exploited by cybercriminals. Some programs have paid out millions to researchers and hackers who found major vulnerabilities. For example, in 2019, Google paid out over $6.5 million in bug bounties to people around the world.

Bug bounty programs typically have guidelines and rules. These outline what types of vulnerabilities are eligible for rewards and how they should be reported. Once a researcher or hacker identifies a vulnerability, they submit it to the company’s bug bounty program. The company then verifies the bug and determines if it is eligible for a reward. If the vulnerability is valid, the company forks over the reward to the person who reported it.

Some companies may also offer other incentives, such as swag or recognition. This helps encourage participation. Some programs may even have different reward tiers for different types of vulnerabilities. For example, more critical or severe vulnerabilities earn higher payouts.

A win-win solution for cybersecurity

There are several reasons why companies use these programs. Identifying security vulnerabilities before they can be exploited by cybercriminals saves the company from potential data breaches, financial losses, and reputational damage.

The programs also allow companies to work with the security community. This helps them improve their security measures and stay ahead of emerging threats. These programs are also cost-effective. Companies discover security weaknesses, as they only pay for valid bugs that are reported.

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Source: “Google paid $6.7 million to bug bounty hunters in 2020” — ZDNet