"Upbit Offers Up to 50 Million KRW for Security Vulnerability Reports"... Bug Bounty Program Launched
Upbit Conducts Bug Bounty with Tiory... Reward Up to 50 Million KRW
[Asia Economy Reporter Myunghwan Lee] Upbit, a cryptocurrency exchange, is introducing a bug bounty program, a reward system for reporting security vulnerabilities, to prevent security breaches exploiting such weaknesses.
Dunamu, the operator of Upbit, announced on the 2nd that it will conduct the "Upbit Bug Bounty" in collaboration with cybersecurity startup Tiory. A bug bounty is a system where white-hat hackers report security vulnerabilities in services or products and receive appropriate rewards.
The Upbit Bug Bounty, held for the first time this year, will be conducted on Tiory's self-developed bug bounty platform "PatchDay." Launched in October last year, PatchDay has received over 130 valid vulnerabilities from more than 1,000 white-hat hackers to date, contributing to the establishment of a secure information management system, according to Dunamu.
The scope of the Upbit Bug Bounty includes Upbit's domestic and international websites and mobile applications (apps). Anyone interested in vulnerability analysis can participate by pre-registering through PatchDay. Applications are accepted from 10 a.m. on the day of the announcement until 6 p.m. on the 12th. Dunamu plans to reward up to 50 million KRW for valid vulnerability reports.
Jae-yong Jeong, Chief Information Security Officer (CISO) of Dunamu, stated, "Dunamu regards users' personal information and security as the most important values," adding, "Through the bug bounty with Tiory, we will do our best to proactively eliminate security weaknesses and protect users' assets."
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Sejun Park, CEO of Tiory, emphasized, "We have continuously worked to change the perception of bug bounties from a corporate cost to an investment," and added, "Through PatchDay, we plan to create an ecosystem where more companies can strengthen security by leveraging the expertise of white-hat hackers."
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