Popular password management service 1Password has announced that it has increased its “bug bounty” reward for finding security vulnerabilities on its platform.
The reward for finding bugs and other threats on 1Password is now $1 million. It is the biggest award in history for an IT company, and it is one of the biggest in the industry.
Jeff Shiner, CEO of 1Password, pointed out that the move will attract additional cyber security experts and “white hat” hackers, while at the same time strengthening the security of password management services.
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It is pointed out that 1Password regularly hires external security experts and “white hat” hackers as part of its normal, daily operations, with the goal of discovering all potential problems on the platform.
Since the start of its bug fix program in 2017, 1Password has paid $ 103,000 to Bugcrowd cyber security experts. Although all bugs discovered so far were smaller and did not put users at risk, the company quickly corrected them and reduced the potential risks of attacks.