Crypto Project Bug Bounties Brought In Nearly $900,000 For White Hat Hackers In 2018

    Bug Bounties Brought In Nearly $900,000 For White Hat Hackers In 2018

    Hacking is one of the biggest issues that plagues the cryptocurrency world, but there have been many other opportunities for cybercriminals to use their knowledge for the good of the industry. Bug bounties actually allow companies to elicit the help of hackers to break into their test software, which lets the company see where their vulnerabilities. This year, there was a total of $878,000 awarded to these white hack hackers.

    Based on a report by TheNextWeb, a bug bounty platform – HackerOne – awarded the hackers $534,500 for their examination of just Block.One. In fact, the current statistics show that this company was responsible for about 60% of the bounties turned in. Coinbase comes in as the second-highest spender for these hackers, ringing in a total of $290,381 in awards. The third-highest spender id Tron, who paid out $76,200.

    Of these hacking jobs, about 4% of them had to do with blockchain vulnerabilities, according to a HackerOne spokesman to TheNextWeb. On average, these hackers are awarded about $1,490 for the year, though the fourth-quarter hacker bounty was only about $900.

    Hacking has been a challenge for crypto accounts all year long, and there have been multiple massive threats through the year. EOS decentralized apps collectively lost about $1 million, and Ledger’s hardware wallets recently had their vulnerabilities exposed publicly, which violated their security principles.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Krystle M
    Krystle is an American cryptocurrency blogger that wants to see the future of crypto and blockchain technology evolve. She has been writing about cryptocurrency for about a year, with a special interest in blockchain technology and regulatory measures around the world. While away from writing and learning about the changes in the cryptocurrency industry, she likes to indulge in science fiction novels and further her experience in playing both guitar and piano.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Bitwise Plans To Target Retail Investors With Its Crypto Index Fund

    Bitwise has revealed that plans are underway to allow the retail market to participate in its large-cap index service. According to CoinDesk, Bitwise is working...

    Binance's Educational Platform Opens Up Government Approved Office in Shanghai

    Binance, one of the most popular crypto exchanges in the crypto-verse which also has many subsidiaries including Binance Academy (a blockchain and crypto-centred educational...

    XRP Trying to Retrace Months of Underperformance But Remains in a “Corrective” Structure

    XRP is up 12.5% but could still jump another 23%, A clean break above $0.21 would be “very bullish” Ripple granted an exemption...

    23k BTC on CME Futures and 50k BTC in Options Expiring Today

    Bitcoin is currently down 0.05% in the past 24 hours trading around $6,640 after hitting $6,872 last night, yet again rejected at $7,000 level....

    Microsoft Files Patent To Mine Cryptocurrencies With Verified Body Activity Data

    Giant software manufacturer, Microsoft is seeking to capitalize on the new crypto hype. The firm is seeking to introduce its own cryptocurrency that will...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.