A bug bounty is a reward program offered by an organization or company to security researchers who discover and report security vulnerabilities in their systems. These programs are an effective way to improve the security of computer systems by rewarding those who discover and report bugs before they can be exploited by malicious attackers. Bug bounty platforms act as intermediaries between companies and bug hunters, facilitating the process of reporting and fixing security issues.

Bug bounty programs have begun to be used by companies outside the technology sector, including traditionally cautious organizations such as the U.S. Department of Defense.

Bug bounty programs are beneficial to companies because they allow them to leverage the expertise of hackers to find vulnerabilities in their code. By having access to a large community of hackers and testers, these programs increase the chances of detecting and fixing problems before cybercriminals can exploit...

It has been 28 years since the beginning of this phenomenon. In 1995, Netscape created the first bug bounty program as we know it today and decided to reward any security researcher who found and reported any bug in their Netscape Navigator 2.0 browser.

The following screenshot presents the history of the adoption of bug bounty programs:

Figure 1.1 – The history of bug bounty programs

Today, bug bounty programs are a common practice among companies and organizations, both large and small. Many technology companies, such as Microsoft, Apple, and Facebook, have their own in-house bug bounty programs, while other companies use third-party platforms to administer their programs.

In the following screenshot, you can see Apple’s bug bounty program. Undoubtedly it is a great challenge and achievement to find security bugs in a giant corporation such as Apple:

Figure 1.2 – Apple bug...

Some of the most popular bug bounty platforms include the aforementioned HackerOne, Bugcrowd, Synack, Intigriti, Cobalt, Immunefi, and YesWeHack, among others. These platforms offer various tools and features to help companies manage their bug bounty programs, and allow bug hunters to find and report security issues effectively.

Bug hunters can register on these platforms and search for bug bounty programs that are a good fit for their skills and experience. Once they find a program that interests them, they can start looking for security issues and report them through the platform. Companies then review the reports and award bug bounties to the bug hunters for their work.

Bug bounty rewards vary by platform and program, but can be significant, reaching hundreds of thousands of dollars for finding critical vulnerabilities. In addition to financial compensation, bug hunters can gain recognition for their work and build their reputation in the...

There are many benefits offered by this type of bug bounty platforms, both for companies and institutions and for bug hunters. The following is a list of these benefits:

• Early identification of vulnerabilities: Bug bounty programs allow companies to identify security issues in their digital systems before they can be exploited by malicious actors. This allows companies to address security issues proactively before they become a real problem.
• Cost savings: Companies can save money by using bug bounty programs instead of hiring an in-house security team. Bug bounty hunters are paid only for the bugs found, which can be more cost-effective for companies than hiring a full security team.
• Increased transparency: Bug bounty programs allow companies to be more transparent about their security issues and how they are working to fix them. This can increase customer and public confidence in the company.
• Increased security: Bug bounty programs allow...

In this chapter, you have acquired many competencies, including an understanding of how bug bounty programs can help improve IT security and reduce cybersecurity risks. You also have the ability to identify the different types of bug bounty programs and how they fit the needs of companies and organizations. Furthermore, you now know the best practices for participating in bug bounty programs and how to report vulnerabilities. Finally, you have understood how bounties work and how they can vary depending on the type of bug bounty program.

In the next chapter, you will learn how to prepare yourself to participate in a bug bounty program by acquiring various skills, such as understanding the rules of the programs and getting to know the ins and outs of the companies and their systems. You will acquire technical skills, be able to select the right tools at the right time, and last but not least, maintain ethics and integrity.

Here you can find the links to expand your knowledge about the specific concepts referenced in this chapter:

• Zero Day Initiative (ZDI): https://www.zerodayinitiative.com/
• Hacker-Powered Security Report: Industry Insights ‘21 (hackerone.com): https://www.hackerone.com/resources/reporting/hacker-powered-security-report-industry-insights-21