iDefense rewards loyal bug hunters

iDefense has announced the first awards in its new loyalty programs for bug bounty hunters. The company, part of VeriSign, on Thursday said it would dole out a total of $39,000 to security researchers who found vulnerabilities and submitted those to iDefense.

The rewards for loyal bug hunters are part of iDefense's three-year-old Vulnerability Contributor Program, which offers cash for details on security flaws. The VCP Retention Program and the VCP Incentive Program each quarter reward top sellers of vulnerability information in the preceding year and three months, respectively.

iDefense is one of a few companies who pay for details on security bugs. The company sweetened its offer to hackers this summer, one day after rival TippingPoint started to offer rewards for pinpointing bugs. TippingPoint recently announced the first bug submitted and fixed through its program.

Both security companies are vying to be the first to know about vulnerabilities in products. The idea is to gain a competitive edge by having security products that recognize more vulnerabilities that may be exploited in cyberattacks.