In their yearly report, perhaps the World’s biggest company; Google has revealed that it paid $3 million to bounty-hunters, or bug finders in the year of 2016. Ethical Hackers who found vulnerabilities, discovered more than a thousand security loopholes in Google products, including Chrome, Android, and more.
The company had previously paid $2 million to developers in 2015, and $1.5 million in the year before that. To the date, the company has paid about $9 million to the developers on finding security bugs in Google’s products ever since the program began in 2010.
Prize money varies from bugs to bugs. The more critical bug; the more reward. Starting from considerably smaller sums, they went to $100,000 for a single vulnerability, which was paid out when a developer accepted a challenge to hack a ChromeBook.
Similar programs for Chrome have reaped rewards in the range of $30,000, which is making bounty hunting an increasingly lucrative market to be in.
Such Programs encouraging bounty hunting have been on the rise other than Google as well. Facebook, for instance, has paid $5 million to developers until now, with most hunters belonging to India, US and Mexico.
Such programs not only encourage developers to find flaws; the problems identified also help companies to raise security standards in end products.