What is a Bug Bounty Program?

Overview

A bug bounty program represents "a monetary reward offered by software developers, websites, and organizations to ethical hackers" for reporting vulnerabilities. The primary objective involves uncovering security flaws before malicious actors can exploit them.

How Bug Bounties Work

These programs operate by incentivizing vulnerability discovery. Security researchers worldwide participate to identify and report issues in exchange for compensation and recognition. Once discovered, organizations verify vulnerabilities and award bounties based on severity and report quality.

Programs may be public (open participation) or private (invitation-only). Many organizations maintain "Hall of Fame" pages acknowledging researcher contributions.

Key Benefits

Organizations gain access to diverse security talent pools, enabling faster vulnerability discovery than internal teams alone. Programs prove cost-effective since "the organization only pays when a valid vulnerability is found," reducing expenses compared to full-time security staff hiring.

Additional advantages include:

• Enhanced security through diverse researcher perspectives
• Reputation strengthening via proactive vulnerability management
• Regulatory compliance support through systematic vulnerability identification

Program Structure

1. Scope — Defines testable systems and assets
2. Disclosure Policy — Outlines reporting procedures
3. Rewards — Monetary compensation based on severity
4. Resolution & Feedback — Protocol response and guidance
5. Leaderboards & Recognition — Public contributor acknowledgment

Solodit Aggregator

Solodit consolidates Web3 bug bounty platforms, enabling auditors to rate, comment on, and track programs across multiple platforms free of charge.