Facebook: Libra Association Invites Security Researchers To Bug Bounty Program

Recovering from their lost reputation, Facebook is all ready to challenge researchers to find bugs in their Calibra Digital Wallet and if someone gets successful, they will be appreciated with massive financial rewards.

Although it has been confirmed by Libra Association - the independent group responsible for governing Libra, that Facebook will roll out with its cryptocurrency by 2020, yet the company has now devised the plan to welcome all researchers in order to test the security of their advanced blockchain technology before the release. If you remember, the Libra Bug Bounty program was first revealed back in June along with the official announcement of Libra Association, however, this is the first time the non-profit will actually be going out to the public.

Libra Association till date has 28 companies united for the cause. The list includes big names like MasterCard, Visa, PayPal, eBay, Uber, Lyft, Farfetch working together with Facebook/Calibra. So, collectively they have introduced the Bug bounty program as a serious bigger effort to make sure that there shouldn’t be any loopholes in the security of their blockchain. Hence they want developers to come up with their best and identify flaws or bugs, especially before the actual release of blockchain next year.

The Libra Association also wants researchers to be aware of the fact that the blockchain technology is still in the testing phases and is even set up on an early-stage version of its code. The group has also stated that it won’t feature real money till the time things become absolute perfect just so that real money shouldn’t be at stake ever. They will only launch Calibra Digital Wallet once they get clearance on security and regulatory concerns.

This Bug Bounty program was announced by Michael Engle, Head of Developer Ecosystem at the Libra Association that the reward for assisting the organisation with critical issues can reach upto $10,000 per bug reported. That being said, the only disclaimer is that the amount can go down or up, depending upon how dangerous the reported bug is.

Engle also expressed that the association is also pleased to build an open and vibrant network of security and privacy researchers around the globe which together can contribute a great deal in launching the global cryptocurrency around the world.

Facebook has been focusing a lot on crowd-sourcing security efforts for a lot of years now and that is the reason why it shouldn’t really come off as a surprise. Prior to this, the social media giant also announced the expansion of its Data Abuse bounty program to Instagram - that was created to reward researchers who report third-party services that exploit the data on photo and video sharing social network. And bear in mind, Facebook has also given millions of dollars to tipsters already, so this won’t be a gimmick!

Photo by Rafael Henrique/SOPA Images/LightRocket via Getty Images

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