What Is Bug Bounty?

What Is Bug Bounty?

Bug bounty programs provide a monetary reward to ethical hackers for reporting security vulnerabilities and bugs to app developers. In other words, bounty hunters, who discover vulnerability or security exploits, usually receive rewards or compensations from companies or organizations for preventing widespread program penetration.

Reasons to Use Bug Bounty Programs

Today, most companies deal with sensitive data. Thus, they are in constant search to prevent any leakage or vulnerability disclosure. However, who can know more about security assessments than hackers, especially bug hunters? Using a bug bounty program, a company can simplify the process of bug revealing and security testing. How?

  • Variety of talents. Many hackers worldwide, not a single person or small group, can be involved in finding bugs in software code. This issue increases the chances of identifying critical vulnerabilities before abusers hack websites, applications, or systems. Moreover, a bounty program serves as a penetration tester and a sign of reliability and maturity of the company’s security program.
  • Cost-saving. Spending reduction is another valuable issue of the work of bug bounties. Although companies pay off rewards for revealing valid bugs, it is much cheaper than managing to fix the same bug. Moreover, information leakage can cost more than a bounty for its detection. In addition, bug bounty hunters get remuneration after they report vulnerabilities, not just for working hours like in-office employees.
  • Realistic. Bug bounty hunting is much closer to reality than any other vulnerability test. Most bug bounty hunters and security researchers use the same knowledge for finding security bugs as cybercriminals intend to exploit first. So, such an impressive list of benefits can ensure such programs’ significance.

Actually, the list of benefits is long, and the reputation of the company can cost a fortune. So, prompt preventive measures concerning cybersecurity are worth implementing.

What Attracts Researchers and Hackers to Bug Hunting?

Monetary rewards are not the only thing that attracts researchers and bug hunters. However, money paid for detecting critical vulnerability can be a good alternative for a full-time office salary or a significant bonus for a side job. In addition, some technical giants pay considerable sums for detecting vulnerabilities.

Additionally, it is a good chance for hackers to master their skills in real conditions. Some platforms, like HackenPoof, a bug bounty platform, have leaderboards where everyone can see the results and achievements of every bug bounty hunter. Recognition in the cyberworld is worth a lot.

Bug Bounty Program in Action

It must be mentioned that bug bounty programs are more effective when companies or organizations reach a certain security level. Then, they must be ready to patch management and fix detected vulnerabilities. Otherwise, there is no sense in paying money for issues not intended to be tackled.

The next thing worth paying attention to before the program launch is the budget. An announced reward indicates a company’s intentions concerning the importance of vulnerability detection. In such a way, competitive rewards can engage more hunters from the hackers’ pool.

The scope is another crucial moment. Some companies determine the testing area not to have a negative impact on day-to-day operations and not to jeopardize the streamlined work of operating systems.

Hackers fill in a disclosure report after revealing a bug. They should describe in detail their discovery and indicate the severity level. If developers submit founded bugs, they pay off the agreed bounty.

Final Word

In such a way, bounty programs encourage researchers from the world hacker community to look for more bugs and serve as a penetration testing team. A third-party company, like the HackenProof platform, assists hackers with reporting bugs and businesses to launch a bug bounty program. Consequently, you can get more information and benefits with expert help.