The Importance of Bug Bounty Programs

The Importance of Bug Bounty Programs

Lately, in the news, we’ve seen a dramatic increase in organizations worldwide using a Bug Bounty model, and there have been some huge results. But what is this program and how does it work?

The cybersecurity industry is in a crisis for resources. Organizations hardly have the time or resources to triage and validate incoming vulnerability findings from independent researchers. A managed crowdsourced application security testing approach strengthens a company’s ability to do just that, as a vital component of an overall appsec strategy.

Furthermore, did did you know,
The Importance of Bug Bounty Programs

BugCrowd Figure 1

So what is a Bug Bounty?

A Bug Bounty program can also commonly be referred to as a vulnerability rewards program (VRP), It is a crowdsourcing initiative that rewards individuals for discovering and reporting software bugs. Bug bounty programs are often initiated to supplement internal code audits and penetration tests as part of an organization’s vulnerability management strategy.*

We’ve long said that implementing a bug bounty program can allow organizations of any size or stage of security maturity to benefit, indefinitely. We consider a Bug Bounty program as a smarter, better approach to IT security.

Many large organizations and websites run bug bounty programs, paying out cash rewards to software security researchers and white hat hackers who report software vulnerabilities that have the potential to be exploited. For example, this year, Facebook has given out as much as $20,000 for a single bug report. Google paid Chrome operating system bug reporters a combined $700,000 in 2012 and Microsoft paid UK researcher James Forshaw $100,000 for an attack vulnerability in Windows 8.1.  In 2016, Apple announced rewards that max out at $200,000 for a flaw in the iOS secure boot firmware components.

How does it work?

Our technology partner, BugCrowd has a comprehensive list of bug bounty programs and disclosure programs from across the web curated by the Bugcrowd researcher community that we stand behind.

Their model is quite simple,

  1. Set the scope of security assessment and engage crowd
  2. Vulnerabilities are submitted, prioritized and reported
  3. Use pay-for-performance model to incentivize results

Interested in learning more about Bug Bounty programs?

The Importance of Bug Bounty Programs

Join Bugcrowd and Secure Sense for a bartending workshop and security mixer at SpiritHouse Toronto as we talk all things Bug Bounty!

Get the chance to network with local security leaders, drink original cocktails, and snack on excellent appetizers, all while gaining expert knowledge on mixology.

Pull up a seat at the wraparound bar and learn the basics on mixing, the proper use of bitters, and the difference between stirring and shaking, from professional bartenders affiliated with the Toronto Institute of Bartending.

RSVP here.

Date: Thursday, September 7th
Time: 5:30 – 7PM EST
Location:  SpiritHouse Toronto | 487 Adelaide St. W, Toronto ON M5V1T4, Canada

See you there!

Source 1*
Source 2
Source 3