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Facebook pays $1M to people hacking it

After the recent wave of online security breaches, Facebook has sought to assure its users that it takes their security seriously by revealing its two year old Bug Bounty program.

In a recent post by the social media giant, the last two years has seen Facebook pay $1 million to 329 hackers for being able to find the holes Facebook’s own team just can’t see .

The Bug Bounty program was launched in an effort to employ the talent being used in the smart, but underground hacker communities. These folks were likely already doing a little poking and prodding in big companies’ systems, so tech giants such as Google, Facebook, and Microsoft all decided to embrace them.

The participants came from all walks of life across the globe (the youngest being a 13-year-old), and the most resourceful ones have already made more than a hundred grand each.

Bounties, or the money paid out to a bug-finder, range based on how critical the bug is. In the last two years, the largest bounty paid out was $20,000.

Facebook isn’t alone in exchanging big money for bug reports — Microsoft, for one, is offering up to $100,000 to anyone who discovers security exploits on the preview version of Windows 8.1.

of the growing respect for skill possessed in the hacking community. This week’s security conferences Black Hat/Def Con have brought in a large number of recruiters.

And, Facebook is hiring as well. The company says they’ve already plucked two people out of the bug bounty program to join Facebook full-time.

Despite Facebook’s success, however, over 6 million accounts were still exposed in June… proving that when it comes to security, tech companies can never sit on their hands.

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