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Industry Research and Analysis from ECCU’s Sharpest Minds
Chief Academic Officer & Dean
Manager of Student Affairs & University Registrar
Senior Executive, Content Management
This study analyzes the economic and ethical dimensions of vulnerability discovery through a comparative assessment of corporate bug bounty programs and underground exploit markets. This study examines whether companies, by offering bug bounty incentives, are unintentionally promoting or reducing the hacker economy by directing hackers toward ethical disclosure practices. Utilizing secondary data and literature, such as industry reports and academic studies, the project demonstrates that bug bounty programs have experienced significant growth, disbursing millions in rewards and involving thousands of hackers (Bugcrowd, 2024; HackerOne, n.d.).
Simultaneously, dark web markets and exploit brokers provide substantially greater financial rewards for exclusive zero-day exploits (Zetter, 2015; ZERODIUM, n.d.), thereby appealing to a distinct group of hackers. The analysis indicates a complex relationship: bug bounties enhance the professionalism of vulnerability discovery and diminish certain criminal incentives; however, substantial financial rewards in the black market persist, enticing individuals to pursue high-value exploits. The report examines the implications for policy and industry, concluding with recommendations to enhance ethical disclosure frameworks, align incentives, and ensure that corporate practices support cybersecurity while avoiding unintended contributions to illicit exploit trade.
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The EC-Council University Cyber Journal is a scholarly publication that disseminates academic, professional, and creative works produced by faculty, students, and affiliated scholars. The journal is designed to publish content that falls outside the scope of Institutional Review Board (IRB) oversight as defined by applicable federal regulations and institutional policies governing human subject research.
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