White Hat Hackers Earned $878,000 from Crypto Bug Bounties in 2018, Data Shows

White Hat Hackers Earned $878,000 from Crypto Bug Bounties in 2018, Data Shows

Blockchain News
January 6, 2019 by XNews Editor 2
49
White hat hackers have been awarded $878,000 in bug bounties this year, technology news website TheNextWeb issues on Dec. 30.
White Hat Hackers Earned $878,000 from Crypto Bug Bounties in 2018, Data Shows

White hat hackers have been awarded $878,000 in bug bounties this year, technology news website TheNextWeb issues on Dec. 30.

Bug bounties are a type of competition in which organizations that create software invite hackers to break their software and responsibly disclose the vulnerabilities, so they are able to repair them before they are exploited.

As per TheNextWeb, hackers earned $534,500 on HackerOne, a bug bounty podium connecting companies with hackers just from Block.one, the company which stands behind EOS. In fact, Block.one is supposedly responsible for 60 percent of all the bounties handed in this year.

Major Cryptocurrency exchange Coinbase is supposedly the second-largest bounty spender and spent $290,381 in 2018. Tron is third-largest bounty spender, apparently paying $76,200 this year.

Nearly four percent of all bounties awarded on the podium were for blockchain vulnerabilities, a HackerOne spokesman told TheNextWeb. The average prize in the blockchain industry was $1,490 this year, while the average HackerOne bounty in Q4 2018 was about $900.

As Cointelegraph lately reported, EOS decentralized apps (DApps) have reportedly lost up to $1 million to hacks since July. Also, hardware wallet Ledger lately expressed regret over the fact that the security researchers disclosed vulnerabilities in its hardware wallets publicly in place of following the standard security principles that are written in Ledger’s Bounty program.


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