Bug Bounty basic for beginners & Types of bug bounty programs

A private bug bounty program is a cybersecurity initiative where organizations invite selected individuals or groups to find and report vulnerabilities in their software or systems. Access is restricted to a chosen pool of researchers who receive rewards for discovering and disclosing security flaws. These programs offer a controlled environment for improving security posture while maintaining confidentiality.

A public bug bounty program invites anyone to discover and report vulnerabilities in software or systems in exchange for rewards. These programs leverage the diverse skills of a wide range of researchers worldwide, enhancing the chances of identifying security issues effectively. By crowdsourcing security testing, organizations can bolster their defenses and foster collaboration within the cybersecurity community.

When the company runs a bug bounty program by itself on it’s own websites and locations without the help of any third party, it is known as self hosted bug bounty program.

In these websites all the skilled hackers/attackers create their account and applies for bounty in the listed programs of different companies. All the companies over the globe come to these organizations to list their companies for bug bounty in exchange with money. These companies pay the hackers amount of money according to the level of vulnerability they find.(*KYC need to be done to get registered a hacker/attacker)

A paid bug bounty program is a cybersecurity initiative where organizations offer monetary rewards to individuals or groups who discover and report vulnerabilities in their software or systems. Participants receive compensation based on the severity and impact of the identified security flaws. These programs incentivize ethical hacking and help organizations proactively identify and address potential security risks.

When the company dosen’t have enough money to pay the people finding bugs, they just give them a appreciation letter (and sometimes Thankyou !) which the person can upload on platform like linkedin, etc. Goverment websites, NGO’s and open source project generally comes under this category.