Korean cybersecurity startup Theori, known for attracting investments worth 20 billion won (US$15.5 million), has partnered with Dunamu to launch a bug bounty program for Upbit, the largest cryptocurrency exchange in South Korea.
According to Public Relations Manager Ms. Kang Ye-rim at the company, a bug bounty program allows companies to leverage the whitehat hacker community for reporting security vulnerabilities, and in turn provide appropriate compensation. It is conducted by many global IT companies such as Google, Apple, and Amazon.
PatchDay is a SaaS (Software as a Service) bug bounty platform developed by Theori. With Theori’s expertise in vulnerability research and consulting experience, PatchDay provides an easy and convenient bug bounty process in reviewing and debugging the vulnerabilities reported by whitehat hackers, and rewarding appropriate compensation.
Since its release in October 2021, PatchDay has launched bug bounty programs for Naver Whale, Klaytn Foundation, and others, in which more than 1,000 hackers have reported up to 130 vulnerabilities. It aims to create a safe environment for all services.
Registration for the Upbit bug bounty program will open on December 2, 10 AM KST. The scope of the Upbit bug bounty program is the Upbit website and mobile application, and offers rewards up to 50 million KRW ($40,000).
Theori CEO Brian Pak commented, “We have always strived to make companies understand that bug bounty programs are an investment, not a mere expense.
Through PatchDay, we aim to create a safe cyber ecosystem where more companies can profit from the expertise of whitehat hackers.”
Jung Jaeyong, CISO of Dunamu, also said, “Upbit’s greatest priority is protecting our customers’ personal data. We intend to eliminate security vulnerabilities and protect our customers’ assets through this bug bounty program with PatchDay.”
Registration for the Upbit bug bounty program is available on the PatchDay website until December 12, 6 PM KST. Anyone interested in cyber security is welcome to register.
(Registration link: https://patchday.io/dunamu/upbit) Partnership inquiries with PatchDay can also be made via the PatchDay website.)