Eskenzi PR ad banner Eskenzi PR ad banner
  • About Us
Thursday, 28 September, 2023
IT Security Guru
Eskenzi PR banner
  • Home
  • Features
  • Insight
  • Channel News
  • Events
    • Most Inspiring Women in Cyber 2022
  • Topics
    • Cloud Security
    • Cyber Crime
    • Cyber Warfare
    • Data Protection
    • DDoS
    • Hacking
    • Malware, Phishing and Ransomware
    • Mobile Security
    • Network Security
    • Regulation
    • Skills Gap
    • The Internet of Things
    • Threat Detection
    • AI and Machine Learning
    • Industrial Internet of Things
  • Multimedia
  • Product Reviews
  • About Us
No Result
View All Result
  • Home
  • Features
  • Insight
  • Channel News
  • Events
    • Most Inspiring Women in Cyber 2022
  • Topics
    • Cloud Security
    • Cyber Crime
    • Cyber Warfare
    • Data Protection
    • DDoS
    • Hacking
    • Malware, Phishing and Ransomware
    • Mobile Security
    • Network Security
    • Regulation
    • Skills Gap
    • The Internet of Things
    • Threat Detection
    • AI and Machine Learning
    • Industrial Internet of Things
  • Multimedia
  • Product Reviews
  • About Us
No Result
View All Result
IT Security Guru
No Result
View All Result

Bugcrowd correlates $27bn risk reduction with ethical hacking to find vulnerabilities

Annual report on crowdsourced cybersecurity provides insight on economics of security research

by Guru Writer
November 17, 2021
in Editor's News, Featured
bugcrowd
Share on FacebookShare on Twitter

Bugcrowd, the crowdsourced cybersecurity platform, has published its Inside the Mind of a Hacker ’21 report, which it says provides CIOs and CISOs valuable insight on ethical hackers and the economics of security research. Some new findings indicate a shift in the threat landscape with 8 out of 10 ethical hackers recently having identified a vulnerability they had never seen before.

 

The annual study offers an in-depth look at ethical hackers to reveal how they reduce risk, which industries leverage their expertise and what organisations are doing to attract high-performing security researchers. It also indicates the growing geographic disparity in crowdsourced cybersecurity investment, with continental Europe allocating 79% less budget to ethical hacking than North America.

 

The report analysed survey responses and security research conducted on the Bugcrowd Platform from May 1, 2020, to August 31, 2021, in addition to millions of proprietary data points collected on vulnerabilities from 2,961 security programmes.

 

Some main findings include:

  • 91 percent of ethical hackers said that point-in-time testing cannot secure companies year-round
  • 80 percent of ethical hackers found a vulnerability they had not encountered before the pandemic
  • 74 percent of ethical hackers agree vulnerabilities have increased since the onset of COVID-19
  • 71 percent of ethical hackers report they earn more now that most companies work remotely
  • 45 percent of ethical hackers believe lack of scope inhibits the discovery of critical vulnerabilities

 

It also claims that 27 billion dollars worth of cybercrime was prevented by ethical hackers on the Bugcrowd Platform.

 

The company noted in its press release that “cybercrime now represents more than one percent of global GDP, costing organizations an estimated $1 trillion in losses in 2021. Ethical hackers are challenging the powerful forces behind these attacks, enabling companies to continuously secure their digital assets and software development lifecycle (SDLC) with greater efficiencies than traditional approaches.”

 

One ethical hacker who goes by the name th3g3nt3lman, said: “The work I do is good for all people—not just for me. It is about making an impact. I like that I’m securing online services used all around the world and helping people to trust their technology without being scared.”

 

Bugcrown also assessed that ethical hackers are multigenerational and younger than ever. Faced with the worst job market since the Great Depression and disproportionate job loss throughout the pandemic, 54% of Gen Z (born 1997–2012) report using their skills as digital natives to kick-start ethical hacking careers.

 

Ashish Gupta, CEO and President, Bugcrowd, concluded: “With this report, we are proud to shine a light on the top ethical hackers that CrowdMatch—Bugcrowd’s proprietary recommendation engine—automatically curates for customer programmes based on skills, environment, and use cases.”

 

 

FacebookTweetLinkedIn
ShareTweet
Previous Post

Managing chaos: How 9/11 and the pandemic changed the way organisations understand critical events

Next Post

Most Inspiring Women in Cyber 2021: Jennifer Valentine, Security Specialist Lead at Jamf

Recent News

software security

Research reveals 80% of applications developed in EMEA contain security flaws

September 27, 2023
Cyber insurance

Half of organisations with cyber insurance implemented additional security measures to qualify for the policy or reduce its cost

September 27, 2023
Fraud and online banking

Akamai Research Finds the Number of Cyberattacks on European Financial Services More Than Doubled in 2023

September 27, 2023
ICS Reconnaissance Attacks – Introduction to Exploiting Modbus

ICS Reconnaissance Attacks – Introduction to Exploiting Modbus

September 27, 2023

The IT Security Guru offers a daily news digest of all the best breaking IT security news stories first thing in the morning! Rather than you having to trawl through all the news feeds to find out what’s cooking, you can quickly get everything you need from this site!

Our Address: 10 London Mews, London, W2 1HY

Follow Us

© 2015 - 2019 IT Security Guru - Website Managed by Calm Logic

  • About Us
No Result
View All Result
  • Home
  • Features
  • Insight
  • Channel News
  • Events
    • Most Inspiring Women in Cyber 2022
  • Topics
    • Cloud Security
    • Cyber Crime
    • Cyber Warfare
    • Data Protection
    • DDoS
    • Hacking
    • Malware, Phishing and Ransomware
    • Mobile Security
    • Network Security
    • Regulation
    • Skills Gap
    • The Internet of Things
    • Threat Detection
    • AI and Machine Learning
    • Industrial Internet of Things
  • Multimedia
  • Product Reviews
  • About Us

© 2015 - 2019 IT Security Guru - Website Managed by Calm Logic

This site uses functional cookies and external scripts to improve your experience.

Privacy settings

Privacy Settings / PENDING

This site uses functional cookies and external scripts to improve your experience. Which cookies and scripts are used and how they impact your visit is specified on the left. You may change your settings at any time. Your choices will not impact your visit.

NOTE: These settings will only apply to the browser and device you are currently using.

GDPR Compliance

Powered by Cookie Information