Majumder started out hunting bugs for large corporations as a pass-time. He found his first bug in the social media microblogging website Tumblr, for which he was paid Rs 15,000. “I have found vulnerabilities in many of the government sites, too, and I try to report them to the people concerned,” he says.
Bug bounty programme is well-known in the US and Europe. Started in 1983, it caught on after 2013 when companies like Facebook, Yahoo, Google started to leverage it. US and India are now among the top countries from where researchers submit bugs.
Anand Prakash, founder of PingSafe, a Bengaluru-based cybersecurity company, is counted among the world’s leading bug bounty hunters. He says one reason for a spike in data breaches in India is the rise of the unicorns and the start-up ecosystem.
“India is suddenly in news for the rising numbers of unicorns, so cyber criminals have their eye on it,” he says, adding, “If you see some of the latest hacks, they are all in new-generation firms like BigBasket, Upstox, Domino’s etc.”