Let’s take a closer look at how the market works. Turning to the wider security community for help makes a lot of sense, and where there’s need there’s a market. It can also be very difficult, time consuming and expensive to root out bugs and flaws internally. It’s not hard to understand why so many companies are now stumping up bounties. The average cost of a data breach is $3.8 million, according to research by the Ponemon Institute. It’s an area that’s gaining legitimacy thanks to official bug bounty programs and hacking contests, but there’s still a seedy underbelly that unscrupulous bounty hunters can take advantage of if they successfully identify a vulnerability. The business of bug hunting is a potentially lucrative one for both seasoned security researchers and amateurs with an interest in hacking. How security researchers and programmers hunt software bugs for cash rewards
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