- SquareX’s Bug Bounty Program invites hackers worldwide to enhance their cybersecurity product and protect consumers online.
- With billions lost to online scams, SquareX’s Bug Bounty Program takes a proactive approach to strengthen cybersecurity through real-world testing and collaboration.
Logll Tech News with a reference to Yahoo Finance — Singapore-based cybersecurity start-up SquareX, led by serial entrepreneur Vivek Ramachandran, has announced the launch of a global Bug Bounty program. The program aims to invite hackers, security researchers, technologists, and students from around the world to test and enhance SquareX’s browser-based cybersecurity product, designed to ensure consumer safety online. To incentivize participants, SquareX is offering a total of USD 25,000 in prize money for successfully identifying and reporting security vulnerabilities.
With the increasing digitization of the world and the growing complexity of technology, cybercrime has become a significant concern. Singapore has witnessed the loss of billions of dollars to online scams and hacks in recent years, prompting SquareX to address this issue by developing a consumer-focused cybersecurity product. The company has raised a substantial seed funding round of USD 6 million from Sequoia Capital SEA, enabling it to prepare for the product’s global release.
Unlike traditional security companies, SquareX has taken the unconventional step of launching its Bug Bounty program before the product goes live. This decision reflects SquareX’s commitment to real-world testing and ensuring the robustness of its cybersecurity solution. By inviting a diverse group of hackers worldwide, SquareX aims to learn from their expertise and strengthen the product’s security.
The Bug Bounty program is scheduled to run for six weeks, starting from Thursday, 15 June 2023, and ending on Thursday, 27 July 2023. During this period, participants can submit their findings to SquareX’s team for evaluation. The submissions will undergo thorough examination, and qualifying discoveries will be rewarded accordingly. Detailed information, including guidelines, scope, and rules, can be found on the Bug Bounty Program webpage: https://malware.rip/.
“Launching this Bug Bounty Program is the right way to battle-test our product and build confidence in our users.” – Vivek Ramachandran, Founder at SquareX
Vivek Ramachandran, the founder of SquareX, emphasized the company’s internal culture of research and hacking, with team members having previously discovered and responsibly disclosed security vulnerabilities at top security conferences. Ramachandran believes that the Bug Bounty Program is a crucial step towards testing the product and building user confidence.
In addition to the global reach of the program, SquareX plans to engage with leading universities, private colleges, and cybersecurity groups in Singapore, encouraging their participation. By involving the local community, SquareX aims to establish new standards for security and instill trust in users, empowering them to navigate the online world fearlessly.
What better way to battle-test a security product than to challenge the best hackers in the world try to break it?
— Vivek Ramachandran (@vivekramac) May 19, 2023
We are going to launch a Bug Bounty program at SquareX @getsquarex with over USD 30K of prizes to be won if you manage to find security bugs in our software!
Sign… pic.twitter.com/sv7JDEZFnj
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About SquareX
SquareX is a Singapore-based start-up founded by Vivek Ramachandran, an esteemed cybersecurity professional and serial entrepreneur. The company’s vision is to make consumers feel secure and confident while browsing the web. SquareX is developing a browser-based security solution, focusing on providing users with control, freedom, and protection during their online activities.
Recently, SquareX secured a seed funding round of $6 million, led by Sequoia Capital South East Asia. This significant investment allows the company to expedite the development of their revolutionary security solution. With a unique approach to consumer security, SquareX strives to empower individuals to stay safe and productive online.
For more information about SquareX and its Bug Bounty Program, please visit https://malware.rip/.
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Problem: Increasing Cybercrime Rates
- Argument: With the world becoming more digital and technology growing increasingly complex, cybercrime rates are on the rise. It is crucial to address this issue and develop robust cybersecurity measures to protect individuals and organizations from online threats.
Problem: Loss of Billions to Online Scams and Hacks
- Argument: Online scams and hacks have caused significant financial losses for individuals and businesses worldwide. It is essential to enhance cybersecurity solutions to mitigate the risks and prevent such losses in the future.
Problem: Lack of Real-World Testing for Cybersecurity Products
- Argument: Many cybersecurity companies launch their products without extensive real-world testing, which can lead to vulnerabilities being overlooked. Initiating Bug Bounty programs, like SquareX, allows for comprehensive testing by a global community of ethical hackers, strengthening the product’s security.
Problem: Need for Collaborative Efforts in Cybersecurity
- Argument: Cybersecurity challenges are complex and require collaborative efforts from individuals, organizations, and governments. Initiatives like SquareX’s Bug Bounty Program foster collaboration by inviting hackers, researchers, and students to contribute their expertise in identifying and addressing security vulnerabilities.
Problem: Lack of Security Standards and Trust
- Argument: The increasing prevalence of cyber threats has led to a lack of trust among users. By setting new security standards and instilling trust through rigorous testing and bug bounty programs, companies like SquareX can empower users to navigate the online world with confidence and peace of mind.
“We believe that launching this Bug Bounty Program is the right way to battle-test our product and build confidence in our users.” – Vivek Ramchandran, Founder at SquareX
Thank you, SquareX and Yahoo Finance, for providing the content.
Sources:
- SquareX: Bug Bounty Program
- Yahoo Finance: SquareX Launches Global Bug Bounty Program
“SquareX has a strong internal culture of research and hacking, with multiple team members having previously discovered security vulnerabilities and having disclosed them responsibly at top security conferences.” – Vivek Ramchandran, Founder at SquareX
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Editor, Logll Tech News