Bug Bounty & Crowd-Sourced Cyber Security

The technology sector was the first market to adopt the crowd-sourced security model and continues to be the most important user in the market, followed by the finance and insurance sectors. The Coronavirus pandemic has dramatically accelerated the growth of crowd-sourcing in other sectors and to cope with the crisis, many organisations are reinventing  their operating models by digitising their activities. 

Given the growing importance of cyber security in the economic survival of companies, an increasing number of Chief Information Security Officers (CISOs) are turning to Bug Bounty programs and buying the services offered by ethical hackers

YesWeHack one of Europe's leading bug bounty platform, has announced exponential growth in Europe, with turnover growing by 100% in 2020.  During the same period, the number of completed bug bounty programs increased by 120% and the volume of identified vulnerabilities more than doubled.

In terms of the types of vulnerabilities detected, YesWeHack notes that the evolution of technologies has led to a slight but constant increase in vulnerabilities. 

These result from poor implementation or design flaws and access control that reduce the number of technical vulnerabilities in corporate networks and this trend is expected to increase as the trend towards hardening of the development of networks frameworks continues.

One reason for the popularity of the YesWeHack platform among ethical hackers can be attributed in part to the efficiency of the programs and the speed of payment. During 2020, for example, 55% of vulnerabilities were paid for less than one week after the report was submitted, furthermore. nearly 90% were paid within 28 days. It can be lucrative too - the biggest bonus paid to a YesWeHack hunter in 2020 was €10,000.

The time it takes to resolve vulnerabilities has also dropped significantly.T he average resolution time in 2020 was 44 days compared to 109 days in 2019. In addition, almost 70% of the vulnerabilities detected in 2020 by YesWeHack researchers were fixed within 28 days of acceptance. This increase can be attributed in part to the progressive integration of Bounty Bug within the software development lifecycle.

Ethical Hackers will play a central role in 2021 as many user organisation's understanding of the strategy has improved. An increasing number of them are finding the confidence to put crowd-sourced security into the mix  as a key component of their cyber security strategy.  

The attack surface is also likely to broaden as remote working and longer supply chains increase the number of vulnerable endpoints. Organizations cannot guarantee the security of their growing volume of third-party interactions, such as with logistics, customers, suppliers, service providers, and finance. “These interactions rapidly increase a company's attack surface and complicate the security of their digital footprint. Left unchecked, these new exposures can quickly become the target of future cyber-attacks.” commented Romain Lecoeuvre, CTO of YesWeHack.
 
As digital transformation quickly spreads across private and public sector organisations, it seems likely that ethical hackers will have a vital   role to play, with a significant adoption of the services that  firms like YesWeHack, Bugcrowd, HackerOne and others can offer in terms of speed, expertise and risk reduction. 
 

ZScaler:        Crowd Sourcing Week:       Bugcrowd:          YesWeHack:          HackerOne

You Might Also Read: 

Ethical Hackers Have Earned  $100m:

 

« Amazon Phishing Emails
Webinar: Architect a security-driven networking strategy in the AWS Cloud »

CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

DigitalStakeout

DigitalStakeout

DigitalStakeout enables cyber security professionals to reduce cyber risk to their organization with proactive security solutions, providing immediate improvement in security posture and ROI.

Jooble

Jooble

Jooble is a job search aggregator operating in 71 countries worldwide. We simplify the job search process by displaying active job ads from major job boards and career sites across the internet.

Resecurity, Inc.

Resecurity, Inc.

Resecurity is a cybersecurity company that delivers a unified platform for endpoint protection, risk management, and cyber threat intelligence.

ManageEngine

ManageEngine

As the IT management division of Zoho Corporation, ManageEngine prioritizes flexible solutions that work for all businesses, regardless of size or budget.

Authentic8

Authentic8

Authentic8 transforms how organizations secure and control the use of the web with Silo, its patented cloud browser.

Messageware

Messageware

Messageware is the market leader in securing, enhancing, and customizing Microsoft Exchange and Outlook Web App.

StratoKey

StratoKey

StratoKey is an intelligent Cloud Access Security Broker (CASB) that secures your cloud and SaaS applications against data breaches, so you can do secure and compliant business in the cloud.

Mobile Mentor

Mobile Mentor

Mobile Mentor is an independent provider of enterprise mobility solutions in New Zealand and Australia.

AirCUVE

AirCUVE

AirCUVE provide authentication and access control solutions for networks and mobile security.

Rafael

Rafael

Rafael has more than 15 years of proven experience in the cyber arena providing solutions for national security as well as commercial applications.

Secure Innovations

Secure Innovations

Secure Innovations is a cybersecurity firm dedicated to providing top-tier cyber security solutions for the Defense and the Intelligence Community.

RunSafe Security

RunSafe Security

RunSafe Security is the pioneer of a patented cyberhardening transformation process designed to disrupt attackers and protect vulnerable embedded systems and devices.

Circadence

Circadence

Circadence offer the only fully immersive, AI-powered, patent-pending, proprietary cybersecurity training platform in the market today.

Threat Status

Threat Status

Threat Status are a Threat Intelligence company. We are the developers of Trillion. A cloud based Security As A Service (SaaS) platform.

Two Six Technologies

Two Six Technologies

Two Six Technologies delivers R&D, innovation, productization and implementation expertise in cyber, data science, mobile, microelectronics and information operations.

Pivot Technology School

Pivot Technology School

Pivot Tech offers Data Analytics, Software Development and Cyber Security training in boot camp style cohorts.

TransUnion

TransUnion

TransUnion is a global information and insights company that makes it possible for businesses and consumers to transact with confidence.

HolistiCyber

HolistiCyber

HolistiCyber provide state-of-the art consulting, services, and solutions to help proactively and holistically defend against a new era of constantly evolving cyber threats.

Sansec

Sansec

Sansec is the global leader in eCommerce malware and vulnerability detection. We help you to stay ahead of hackers!

Endor Labs

Endor Labs

Endor Labs gives developers and security teams the context they need to prioritize open source risk.

National Information and Cybersecurity Council (NICC)

National Information and Cybersecurity Council (NICC)

National Information and Cybersecurity Council is a leading collaborative effort between Government of India and Industry to raise Cybersecurity awareness nationally.