Security firms across the globe are actively involved with Social media firms and websites’ bounty hunting programs as it quite often serves as a lucrative business earning millions of dollars every year. This further goes on to show that the bug bounty hunting programs can be constituted as an entire industry and not just a small prospect in all cases. The numbers from big firms are astonishing to the point that Google and Microsoft paid around 20 million dollars combined for bugs with Facebook coming at around 2 million dollars annually generating annual revenue from industries at 40 million dollars every year for picking out bugs on websites.
Despite Facebook being the biggest social media firm across all, their bounty hunting program had been suffering at the hand of late payments and lack of interest from Facebook for the program. However, Facebook has started to show an active interest in the program in solving the lag issue as their first and foremost concern by bringing it to the limelight. Facebook intends to solve the bounty lag issue by dividing the delays into three categories across the web.
The first one is for the days when the bounty checking is delayed to around 30 to 59 days. This would result in Facebook giving a 5% bonus to the bounty hunter. The second category is specific for 60 to 89 days which results in a 7.5% bonus for the hunter. The third category pays a whopping 10% bonus to the hunter in case the checking is delayed by more than 90 days. This makes the Facebook program more attractive to all the bug bounty hunters out there for more work with more pay as it furthers Facebook’s intention to rival the likes of Google and Microsoft to take place amongst the giants of the internet and technology.
This not only incentivizes the patience amongst the bounty hunters but also calls them to continue working with Facebook as they are aware that they would be compensated monetarily for any mishaps that occur on the way. This feature is known as the Payout Time Bonus and is very likely to have the hunters sticking with Facebook as it was initially planned.
Facebook also announced that the minimum bounty they would pay is 500 dollars as they announced their new guidelines for the bounty hunting program. They took to page that the earlier three guidelines will have many more to come for updates in the program and developments that are necessary for the bug bounty hunting program and to further the cause.
Photo: Robert Galbraith / Reuters
Read next: Facebook is planning to spend one billion dollars on creators who post content on its platform through 2022
Despite Facebook being the biggest social media firm across all, their bounty hunting program had been suffering at the hand of late payments and lack of interest from Facebook for the program. However, Facebook has started to show an active interest in the program in solving the lag issue as their first and foremost concern by bringing it to the limelight. Facebook intends to solve the bounty lag issue by dividing the delays into three categories across the web.
The first one is for the days when the bounty checking is delayed to around 30 to 59 days. This would result in Facebook giving a 5% bonus to the bounty hunter. The second category is specific for 60 to 89 days which results in a 7.5% bonus for the hunter. The third category pays a whopping 10% bonus to the hunter in case the checking is delayed by more than 90 days. This makes the Facebook program more attractive to all the bug bounty hunters out there for more work with more pay as it furthers Facebook’s intention to rival the likes of Google and Microsoft to take place amongst the giants of the internet and technology.
This not only incentivizes the patience amongst the bounty hunters but also calls them to continue working with Facebook as they are aware that they would be compensated monetarily for any mishaps that occur on the way. This feature is known as the Payout Time Bonus and is very likely to have the hunters sticking with Facebook as it was initially planned.
Facebook also announced that the minimum bounty they would pay is 500 dollars as they announced their new guidelines for the bounty hunting program. They took to page that the earlier three guidelines will have many more to come for updates in the program and developments that are necessary for the bug bounty hunting program and to further the cause.
Photo: Robert Galbraith / Reuters
Read next: Facebook is planning to spend one billion dollars on creators who post content on its platform through 2022
