We are now living among the generation of tech-related companies. Thousands of companies work together to create unique products and bring comfort to its users. Nowadays, users rely more on a digital device to perform their daily tasks and companies utilize this opportunity in their advantage by providing new products to make users rely more on the digital platforms for a variety of services. The technology is evolving every passing second and users tend to adapt and evolve along with these new technologies as well.
To help secure the platforms more from any sort of malicious attacks, HackerOne platform started a bug bounty program to bring out the loopholes that go unnoticed. Now hackers can earn rewards in millions each time they report a security weakness in any of the software companies that promote bug bounty programs.
Every time a hacker reports a vulnerability in a software organization it results in partnership with the organization on HackerOne in less than 60 seconds. This means that hackers and companies interact more than 1,000 times in a day to provide a safe and secure platform for a variety of users.
This report displays that severe loopholes are being identified through these bug bounty programs. More than 25 percent of discovered flaws were considered as high to crucial severity in the previous year alone and the reward of the bounty depends on the sereneness of the flaw in security. The report by HackerOne states that security researchers are earning millions of money with these bug bounty programs.
Google, Microsoft, Facebook, Apple, and Intel are the most competitive bounty hunting programs that offer awards to hackers as high as 41,500,000 for critical issues.
According to the report, Hackers earned more than $21 million in the past year via reporting vulnerabilities on HackerOne bug bounty programs. This means that the rewards for bug hunting programs increased to more than $10 million since the previous year.
A 19-year-old Santiago Lopez was the first to achieve the milestone to earn $1 million through bug bounty programs by HackerOne in March 2019. He became the first millionaire hacker with a history of finding 1676 flaws in the online devices and assets belonging to known companies like Automattic, Verizon, Twitter, Private companies and even U.S. government as well.
Now according to HackerOne, there are new five hackers in the block who became millionaires after discovering and reporting vulnerabilities through the bug bounty platform.
Mark Litchfield from the U.K., Nathaniel Wakelam from Australia, FransRosen from Sweden, Ron Chan from Hong Kong and Tommy DeVoss from the U.S. joined the rank of being the millionaire hacker through improved internet security programs.
Read next: Facebook will now reward researchers for identifying data abuse on Instagram
Bug bounty programs
Although all the companies try to secure user personal information but all it takes is a little ignorance for a threat to turn into a malware attack. Companies try to build strong security walls to provide more protection to users but sometimes there are some loopholes that go unnoticed.To help secure the platforms more from any sort of malicious attacks, HackerOne platform started a bug bounty program to bring out the loopholes that go unnoticed. Now hackers can earn rewards in millions each time they report a security weakness in any of the software companies that promote bug bounty programs.
Every time a hacker reports a vulnerability in a software organization it results in partnership with the organization on HackerOne in less than 60 seconds. This means that hackers and companies interact more than 1,000 times in a day to provide a safe and secure platform for a variety of users.
Report by Hacker-Powered Security
HackerOne shared a report based on more than 123,000 resolved security vulnerabilities, more than 1,400 customer programs and with over $62 million rewarded in bounties to hackers from more than 150 countries.This report displays that severe loopholes are being identified through these bug bounty programs. More than 25 percent of discovered flaws were considered as high to crucial severity in the previous year alone and the reward of the bounty depends on the sereneness of the flaw in security. The report by HackerOne states that security researchers are earning millions of money with these bug bounty programs.
Detailed insight on the rewards by bug bounty programs
The discovery of an average crucial vulnerability and the rewards paid through bug bounty programs increased more than 48 percent since the last year. The bug bounty program involved industries which observed an increase in the average reward for more than 715 percent since 2016.- Also read: How Do Hackers Hack? (Infographic)
Google, Microsoft, Facebook, Apple, and Intel are the most competitive bounty hunting programs that offer awards to hackers as high as 41,500,000 for critical issues.
According to the report, Hackers earned more than $21 million in the past year via reporting vulnerabilities on HackerOne bug bounty programs. This means that the rewards for bug hunting programs increased to more than $10 million since the previous year.
Six hackers became millionaires with bug bounty programs
A total of six researchers earned more than 41 million through bounties since the platforms started connecting testers and security researchers with companies from all over the world.A 19-year-old Santiago Lopez was the first to achieve the milestone to earn $1 million through bug bounty programs by HackerOne in March 2019. He became the first millionaire hacker with a history of finding 1676 flaws in the online devices and assets belonging to known companies like Automattic, Verizon, Twitter, Private companies and even U.S. government as well.
Now according to HackerOne, there are new five hackers in the block who became millionaires after discovering and reporting vulnerabilities through the bug bounty platform.
Mark Litchfield from the U.K., Nathaniel Wakelam from Australia, FransRosen from Sweden, Ron Chan from Hong Kong and Tommy DeVoss from the U.S. joined the rank of being the millionaire hacker through improved internet security programs.
Bottom Line
Bug bounty programs to discover loopholes and to reward the researchers is a great step towards making the internet a safe and secure place for all sort of users from all over the world. If you want to be a millionaire, start finding flaws in most used online websites and apps.
Read next: Facebook will now reward researchers for identifying data abuse on Instagram
