Blockchain companies awarded nearly $1M in bug bounties through HackerOne in 2019

Cryptocurrency and blockchain companies awarded hackers nearly $1 million through the security vulnerabilities platform HackerOne in 2019.

According to data shared with The Block, cryptocurrency and blockchain companies on HackerOne's platform paid developers and bug-catchers a total of $968,504 last year for finding and addressing system vulnerabilities.

The amount marks a 64% surge from 2018. As reported at the time by The Next Web, awarded a significant amount – more than $500,000 – that year. 

Cryptocurrency and blockchain now constitute the fourth-biggest industry when it comes to giving out bug bounties, with Internet services, computer software, and media making up the top three, according to HackerOne. Notable industry firms with presences on HackerOne include Coinbase, Blockchain and Ripple. 

The industry also saw the highest-average bounty payment of $6,124, according to HackerOne's figures.