Crypto.com offers $2 million reward for identifying security flaws
The initiative is the largest bug bounty program with HackerOne
Crypto.com, a leading cryptocurrency exchange, has announced a groundbreaking bug bounty program offering up to USD $2 million in rewards.
Bug bounty program, launched in collaboration with cybersecurity platform HackerOne, aims to bolster security measures by encouraging ethical hackers to identify vulnerabilities in the company’s systems. The initiative is the largest bug bounty program with HackerOne, Crypto.com reported.
A push for enhanced security
This move comes as Crypto.com continues to prioritize user safety amid growing cyber threats in the cryptocurrency sector. By leveraging the expertise of the global ethical hacking community, the platform seeks to preemptively address potential flaws before they can be exploited by malicious actors. Kris Marszalek, CEO of Crypto.com, highlighted the company’s commitment to fostering trust and transparency, noting that this program underscores their proactive approach to safeguarding users' assets.
Eligible participants in the program can earn rewards depending on the severity and complexity of the vulnerabilities they uncover. Critical issues may earn rewards up to $200,000, with varying amounts allocated for high, medium, and low-severity findings.
Collaborating with HackerOne
Crypto.com has partnered with HackerOne, a leading cybersecurity firm that specializes in crowd-sourced vulnerability assessments. This collaboration ensures a rigorous vetting process for submissions, with HackerOne acting as an intermediary to validate findings and facilitate payouts. HackerOne CEO Marten Mickos emphasized the importance of such initiatives, describing them as a "key component of a robust security framework."
The program is open to both individual ethical hackers and cybersecurity teams, broadening participation and promoting innovation in threat detection. The platform also outlined guidelines for submission to ensure that ethical standards are upheld throughout the process.
With the cryptocurrency market under constant scrutiny due to high-profile breaches, Crypto.com’s $2 million initiative sets a new benchmark for security practices. As user adoption grows, initiatives like these are expected to play a pivotal role in shaping industry standards and improving trust among investors.
We previously informed you that Crypto.com expands financial services with Fintek Securities acquisition.
