Bugcrowd Reports Ethical Hackers Prevented $27B in Cybercrime

    Over the final yr, moral hackers have prevented greater than US$27 billion in cybercrime, in response to a report launched Tuesday by a number one bug bounty platform.
    In its annual Inside the Mind of a Hacker report, Bugcrowd maintained that moral hackers engaged on its platform had been capable of stop these cybercrime losses to organizations by exposing vulnerabilities that might in any other case have gone undetected.
    The report relies on a survey of the platform’s customers and safety analysis performed from May 2020 to August 2021, along with thousands and thousands of proprietary knowledge factors collected on vulnerabilities from practically 3,000 safety applications.
    “Hacking has long been maligned by stereotypical depictions of criminals in hoods, when in fact ethical hackers are highly trusted and industrious experts who empower organizations to release secure products to market faster,” Bugcrowd President and CEO Ashish Gupta stated in a information launch.
    The report famous that just about three of 4 moral hackers (74 p.c) agreed that vulnerabilities have elevated because the begin of the Covid-19 pandemic.
    “Due to the rapid change almost everyone underwent due to the pandemic, many vulnerabilities and weaknesses were introduced,” noticed John Bambenek, a precept risk hunter at Netenrich, a San Jose, Calif.-based IT and digital safety operations firm.
    “You can do things fast or do things secure and out of necessity we did things fast,” he instructed TechNewsWorld.
    Shifting Vulnerability Landscape
    There’s little query that the vulnerability panorama has shifted because the begin of the pandemic, added Jake Williams, co-founder and CTO of BreachQuest, an incident response firm in Dallas.
    “As the majority of knowledge workers moved from on-premises to remote work, network architecture fundamentally shifted,” he defined to TechNewsWorld.
    “We view security as the intersection of confidentiality, integrity, and availability,” he continued. “The shift to remote work happened so quickly that most organizations only worked on availability without worrying about the other aspects of security.”
    “Vulnerabilities caused by the rapid transition to remote work will certainly continue to be discovered,” Williams insisted.
    A D V E R T I S E M E N T

    The pandemic has additionally elevated the demand for brand new expertise at cybersecurity corporations. Of the numerous certifications on the market that may be obtained by cyber-newbies, Certified Ethical Hacker is taken into account crucial by Abhijit Ghosh, CTO and cofounder of Confluera, a cyberthreat monitoring platform maker in Palo Alto, Calif.
    “In addition to showcasing their understanding of hacking tools and techniques, the experience with hack-a-thons and catch-the-flag competitions is not unlike the real-world scenario in which cybersecurity professionals must respond in real-time to an attack-in-progress,” he instructed TechNewsWorld.
    “I also associate this certification with the individual’s passion for this industry,” he added, “something that you’ll need a lot of when cyberattacks hit at the most inopportune time, like the weekends and holidays.”
    Continuous Monitoring Needed
    The Bugcrowd report additionally famous that greater than 9 in 10 of the moral hackers surveyed (91 p.c) acknowledged that point-in-time testing — which is what they do — can’t safe a corporation yr spherical.
    “That’s a reflection of what software delivery professionals have known for years and years — shorter, more agile cycles improve quality,” stated Tim Wade, technical director for the CTO workforce at Vectra AI, a San Jose, Calif.-based supplier of automated risk administration options
    “Rapid, smaller scope engagements with an opportunity to incrementally measure capabilities over time is almost certainly going to move the needle for organizations,” he instructed TechNewsWorld.
    Bug bounties have their benefit within the cybersecurity subject, however nonetheless fall into the class of focusing efforts on post-deployment and being reactive, added Archie Agarwal, founder and CEO of ThreatModeler, an automatic risk modeling supplier in Jersey City, N.J.
    “I would rather legitimate security researchers always find vulnerabilities before the criminals, however, the industry focus must shift towards proactive, continuous security in the design and build phase,” he instructed TechNewsWorld.
    “Only by leveraging automated threat modeling that weaves seamlessly throughout the software development life cycle will we start to truly tackle the scale of vulnerabilities being found,” he stated.
    Hacker Lifestyle
    The report additionally comprises data on the life-style, experience and motivations of the moral hackers on the Bugcrowd platform, along with a number of “up close” items on a number of hackers.
    “I’m always inspired by the ingenuity and entrepreneurial mindset of those drawn to ethical hacking,” noticed Bugcrowd Founder and CEO Casey Ellis.
    “Our latest report shows that 79 percent of ethical hackers taught themselves how to hack using online resources,” he instructed TechNewsWorld.

    “The report also found that this is the youngest, and most ethnically diverse, generation of ethical hackers in history,” he added. “The impact this cohort has on thwarting cyberattacks and advancing the industry is monumental, and this is sure to continue.”
    Craig Young, a principal safety researcher at Tripwire, a cybersecurity risk detection and prevention firm in Portland, Ore. defined that organizations leverage bug bounty applications as a type of crowdsourced safety testing.
    “No security team, no matter how mature, is able to catch 100 percent of the issues 100 percent of the time,” he instructed TechNewsWorld, “but bug bounty programs help reduce the risk that a missed issue will be leveraged for intrusion.”
    ‘Many Eyes’ Advantage
    “Having many eyes, especially with the necessary talent and training, is one of the best things you can do to find and eradicate bugs,” added Roger Grimes, a protection evangelist at KnowBe4, a safety consciousness coaching supplier in Clearwater, Fla.
    “No matter how great your internal bug finding team is, an external team will always find bugs the internal team did not,” he instructed TechNewsWorld. “Bug bounty programs invite many external people and teams to look for bugs in your software — before the malicious hackers do.”
    Despite the advantages moral hacklers can convey to a corporation, pockets of mistrust stay.
    “Most industries are not comfortable with bug bounties and ethical hackers because they do not understand the tremendous benefits,” Grimes stated. “They think inviting hackers to hack their software will lead to more maliciousness overall, when the real outcome is exactly the opposite.”
    Nevertheless, he famous issues have gotten higher through the years. “A decade ago, most organizations would never have allowed bug bounty programs,” he noticed. “Now, you have a slew of competing bug bounty consortiums and people earning money by finding bugs before the malicious hackers do.”

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