Hackers get paid nearly $900K for 'not stealing crypto'

31 Dec, 2018 | Updated: 31 Dec, 2018
by Joeri Cant
Hack
Hackers get paid nearly $900K for 'not stealing crypto'

According to data from HackerOne, a major platform that allows white hat hackers to report security vulnerabilities and receive financial rewards in return, blockchain companies awarded $878,504 in bug bounties to hackers this year.

According to The Next Web, EOS creator Block.one accounts for more than 60 percent of all bounties handed out in 2018, taking the number one spot with $534,500 awarded. Block.one launched its disclosure program for EOS at the end of May 2018. Not long after that, one single hacker claimed $120,000 in bug bounties from Block.one in less than a week.

Leading crypto brokerage Coinbase comes in second place with $290,381. Coinbase has been running a disclosure program since 2014.

Read more: Anonymous hacker sued for $5.5 million by Bitmain

TRON, which has spent a total of $76,200, takes the silver, however, TNW points out that this data for both Coinbase and Tron, includes pre-2018 spending, meaning that the comparison with Block.one is not direct.

Bug bounties are considered to be of the upmost importance for any crypto project due to the fact that user funds are directly at stake whenever a bug rears its ugly head.

The term 'white hat hackers' refers to ethical computer hackers, or computer security experts, who specialize in penetration testing and in other testing methodologies that ensures the security of an organization's information systems.

As there are plenty of malicious attackers outthere, ready to exploit each bug, we must appreciate these 'white hats' and if you were looking for a great excuse to become a 'white hat hacker', take a look at Augur’s $200,000 bounty for critical issues. Maybe it could be yours!

Read more: Hacker returns 165 ETH to SpankChain, receives reward: 'We were lucky'

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