cryptoknowmics.com
|
|
BitcoinTrade, the second-largest cryptocurrency exchange in Brazil, is paying white-hat hackers to breach their security to provide for better service. The cryptocurrency exchange has just announced a partnership with BugHunt to create a program encouraging hackers to find bugs and errors on its platform and report them in exchange for rewards.
BitcoinTrade Intends to Promote White Hat Hacking Scene
The intention behind creating such a program is to improve upon the trading experience of the cryptocurrency exchange. Also to promote white-hat hacking scene for those hackers who use their skills for legal purposes.
BitcoinTrade’s decision on strengthening its security services comes amid Brazil’s weakening cybersecurity scene. For instance, last week, the private data of more than 102 million Brazilians leaked. Even President Jair Bolsonaro’s private data happens to be inside the leak. Meanwhile, those databases have already been auctioned on the dark web.
The security breach incident occurred after an unidentified group of hackers attacked Brazil’s largest mobile services operators. Meanwhile, a few days earlier, the financial information of 223 million consumers was leaked to the public after a group of anonymous hackers attacked the systems of Serasa Experian, the largest credit scoring organization in Brazil. In addition to personal data, demographic profiles, real estate holdings, education, earnings, tax information, vehicles purchased, etc. were also leaked.
BitcoinTrade to Pay an Average of $1850 Per Flaw
Given how easy it is to steal data from millions of Brazilians, the crypto community will need as much support as possible. Hence, BitcoinTrade wants to minimize any possibility of an attack in the future. The cryptocurrency exchange, therefore created a program along with BugHunt to pay on average $1850 per flaw found. The amount will vary depending on the quality of the bug.
Recently, BitcoinTrade was bought by Ripio, one of the largest cryptocurrency trading platforms in Latin America. While In 2020, BugHunt paid more than R$ 100,000 to Brazilian hackers who found about 750 flaws in different corporations from all over Brazil.