SquareX Launches Global Bug Bounty Program, Inviting Hackers to Test and Strengthen Security Product with USD 25,000 in Prize Money

SINGAPORE, June 14, 2023 /PRNewswire/ — SquareX, led by serial cybersecurity entrepreneur Vivek Ramachandran, is developing a browser-based cybersecurity product to keep consumers safe online. It recently raised a mega seed round of USD 6M from Sequoia Capital SEA and is now gearing up to make its product generally available to consumers.

SquareX Launches Global Bug Bounty Program, Inviting Hackers to Test and Strengthen Security Product with USD25,000 in Prize Money

Billions of dollars have been lost to online scams and hacks over the past few years by Singaporean citizens, and with the world growing increasingly more digital, and technology more complex, it is expected for cyber crime to rise in both Singapore and worldwide. As a Singapore headquartered company, SquareX is inspired by the government’s effort to foster a culture of cyber security awareness within universities, organizations and individuals to be able to effectively take on this challenge. SquareX’s team in Singapore is engineering a consumer-focussed cybersecurity product from the ground-up, purpose-built to tackle the current generation of threats.

Before the product’s worldwide launch, SquareX is announcing a Bug Bounty program to invite hackers, security researchers, technologists and students to hack-test its product and find security vulnerabilities in it. Traditionally, it is unheard of for security companies to launch a Bug Bounty program before the product goes live but SquareX recognizes the importance of real-world battle testing the product by an army of hackers from around the world. SquareX hopes this move will inspire other enterprises in Singapore to do the same.

To incentivize and reward the bug bounty hunters, SquareX is offering rewards totalling up to $25,000 for successfully discovered and reported vulnerabilities. SquareX’s team will examine all submissions, provide feedback and will decide which ones qualify for a reward. The Bug Bounty program will span over six weeks from Thursday, 15 June 2023 to Thursday, 27 July 2023.

“SquareX has a strong internal culture of research and hacking, with multiple team members having previously discovered security vulnerabilities and having disclosed them responsibly at top security conferences, ” said Vivek Ramchandran, Founder at SquareX. We believe that launching this Bug Bounty Program is the right way to battle-test our product and build confidence in our users.”

SquareX plans to reach out to leading universities, private colleges and cybersecurity groups in Singapore  to encourage them to participate in this event. Together, with the local community, we hope to build a product from Singapore that sets new standards for security and instills trust in our users, to relentlessly empower users to be fearless online.

About the Bug Bounty Program:
The Bug Bounty Program will kick off on Thursday, 15 June 2023 and run for a period of six weeks, ending on Thursday, 27 July 2023. Interested participants can find detailed information, including guidelines, scope, and rules, on Bug Bounty Program webpage: https://malware.rip/ 

About SquareX:
SquareX is a Singapore-based start-up founded by Vivek Ramachandran, a renowned cyber security professional and serial entrepreneur. With a vision to make consumers fearless online, SquareX is developing a browser-based security solution for consumers. This solution aims to provide users with control, freedom, and security while browsing the web.

The company recently raised $6 million in a seed round led by Sequoia Capital South East Asia, enabling them to accelerate the development of their revolutionary security solution. With a contrarian view towards consumer security, SquareX aims to empower individuals to be safe and productive online.

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