2020 Sees 26 Percent Increase in Bug Bounty Payouts

Most social media platforms and other tech based corporations need someone or the other to look into their code and find any bugs or errors that might leave certain users vulnerable. Because of the fact that this is the sort of thing that could potentially end up costing the company a lot of money if they hire someone on payroll to handle it, many companies prefer to let freelancers collect bug bounties if they were to find some kind of a bug in the code, and this means that a lot of people have started turning to this sort of thing as an alternative source of income.

With all of that having been said and out of the way, it is important to note that in the year 2020 it appears that bug bounties have become an even more popular income avenue for many people to explore. Companies have reported a 26% increase in such bounties over the course of the past year, with the most popular bug that is being found right now, the XSS, actually ending up as one of the most affordable bugs for companies to pay bounty hunters for.

This bug is pretty dangerous due to the reason that it can allow hackers and other malicious actors to manipulate scripts on user side interfaces and inject malicious code into them. Bug bounties involving XSS paid out a total of $4.2 million this year, a large number by any measure but one that starts to seem particularly relevant when you consider the fact that it is a 26% increase from last year. It’s pretty clear that companies are eager to pay more to bug hunters so that their code can be optimized in every way, shape or form at the end of the day.

Ethical hacking has become a pretty big business, with the total amount being paid out this year to such hackers by organizations coming in at just short of $23.5 million. This is even more amazing when you take into account the fact that there are still a couple of months left in the year for more money to be earned.

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