There’s a $10,000 reward for breaking Facebook’s cryptocurrency

[TravelMug]

To all bounty hunters out there, Facebook is offering as much as $1k to break their supposedly Libra coin.

Facebook’s proposed cryptocurrency, Libra, is ready for a trial by fire.

The Libra Association, the membership-only Swiss organization established by Facebook to steward its currency, announced today (Aug. 27) it was launching a public bug bounty program for the planned digital currency scheduled to launch in early 2020. Tasked with managing the Libra network and reserves, the association will offer security researchers up to $10,000 for reporting critical bugs. Facebook will provide the funds, according to the association

https://qz.com/1695569/facebooks-bug-bounty-program-for-libra-offers-hackers-10000/

Looks like all system go for Facebook in launching Libra in 2020 despite the US congress trying to block it at all cost.

[coin-investor]

To all bounty hunters out there, Facebook is offering as much as $1k to break their supposedly Libra coin.

Facebook’s proposed cryptocurrency, Libra, is ready for a trial by fire.

The Libra Association, the membership-only Swiss organization established by Facebook to steward its currency, announced today (Aug. 27) it was launching a public bug bounty program for the planned digital currency scheduled to launch in early 2020. Tasked with managing the Libra network and reserves, the association will offer security researchers up to $10,000 for reporting critical bugs. Facebook will provide the funds, according to the association

https://qz.com/1695569/facebooks-bug-bounty-program-for-libra-offers-hackers-10000/

Looks like all system go for Facebook in launching Libra in 2020 despite the US congress trying to block it at all cost.

I think they have done the right thing and the right step, they know that there are a lot of good hackers and coders in the Crypto sphere and they want to test their coin for any bug and inviting hackers for the bug is a critical step before they launch it.

Many developers are doing, I remember Credits also offer a big amount for bug bounty, not only coins but exchanges as well.

Libra Coin will definitely push through, their lawyers and of course their power to lobby will take care of that.

[ashmodeus]

well, since it will be the next part of daylife, no wonder why congress tried to stop that.
we talk about big ecosystem and i just think probably congress have no benefit from it.

[Kemarit]

well, since it will be the next part of daylife, no wonder why congress tried to stop that.
we talk about big ecosystem and i just think probably congress have no benefit from it.

They try to stop it because they are afraid that it will give too much power to a already powerful company like Facebook. But being too powerful, it will be very hard to congress stop them as there are reports that they hire a lobbyist to help them forward their cause. $1000 is a good amount to offer to bounty hunters, I think this is a good PR stunt of Facebook and they are assuming that they are going to push forward with their schedule release in 2020. But so far we have to wait officially when they are going to release it before ethical hackers can try to break their code.

[Jating]

To all bounty hunters out there, Facebook is offering as much as $1k to break their supposedly Libra coin.

Facebook’s proposed cryptocurrency, Libra, is ready for a trial by fire.

The Libra Association, the membership-only Swiss organization established by Facebook to steward its currency, announced today (Aug. 27) it was launching a public bug bounty program for the planned digital currency scheduled to launch in early 2020. Tasked with managing the Libra network and reserves, the association will offer security researchers up to $10,000 for reporting critical bugs. Facebook will provide the funds, according to the association

https://qz.com/1695569/facebooks-bug-bounty-program-for-libra-offers-hackers-10000/

Looks like all system go for Facebook in launching Libra in 2020 despite the US congress trying to block it at all cost.

I think they have done the right thing and the right step, they know that there are a lot of good hackers and coders in the Crypto sphere and they want to test their coin for any bug and inviting hackers for the bug is a critical step before they launch it.

Many developers are doing, I remember Credits also offer a big amount for bug bounty, not only coins but exchanges as well.

Libra Coin will definitely push through, their lawyers and of course their power to lobby will take care of that.

This has been a practice lately, so I would tend to agree that this is a right thing to do to really get the attention of some of the best minds in the crypto world. I mean we already associate hackers to bad things, at least this time they can bring their talents and be rewarded at the same time.

Yes Credits and other new products are offering bug bounty, it has mutual benefits, hackers exploit your code and then pay them. Your product improved and loopholes are fix, win win situation.

[Red-Apple]

this is more of an advertisement of their centralized coin rather than wanting to incentivize experts to review their code. i actually took a look at things a while ago, there is no originality in their project. and most of the things that could break and are security related they are using other libraries that have existed for a long time (like for their signature cryptography) so unless you could find some bug in those libraries there is no much to look for!
and if someone finds something, if they exploit it they could earn a lot more money than $1k they offer!

[Tallos]

10 000 USD is a bug bounty program? They are kidding right? They are going to create the world biggest cryptocurrency and they allocate only 10 000USD?
Even the smallest altcoins in the marker offers more than 10 000USD in their bug bounty program.

[Saisher]

10 000 USD is a bug bounty program? They are kidding right? They are going to create the world biggest cryptocurrency and they allocate only 10 000USD?
Even the smallest altcoins in the marker offers more than 10 000USD in their bug bounty program.

I don't see any problem with the amount if you convert that to our local currency that's enough to buy a house or a buy a second-hand car, legit projects do this and I think it will be one of the series of bug bounty that they are going to offer to coders as they move forward to launch their token.

[TravelMug]

10 000 USD is a bug bounty program? They are kidding right? They are going to create the world biggest cryptocurrency and they allocate only 10 000USD?
Even the smallest altcoins in the marker offers more than 10 000USD in their bug bounty program.

That is for one bug you can find in their system.

1 bug = $10K

They are looking for like 100 critical bug that is going to be discovered.

100 critical bugs = $1 million

So they're not kidding here, and to remind you, there was one 19 year old who is making a tons of money breaking systems, you can read it here, https://www.bbc.com/news/av/technology-47407609/how-one-teenager-is-making-millions-by-hacking-legally

[NoirSuccubus]

Yes, it is going to be a difficult task for expert people and hackers to do since we all know how good Facebook is in its security. But this is sure a chance for many potential people to earn a bit and at the same time make themselves known. Many hackers will try this, and I think they should.

[masterrex]

To all bounty hunters out there, Facebook is offering as much as $1k to break their supposedly Libra coin.

Facebook’s proposed cryptocurrency, Libra, is ready for a trial by fire.

The Libra Association, the membership-only Swiss organization established by Facebook to steward its currency, announced today (Aug. 27) it was launching a public bug bounty program for the planned digital currency scheduled to launch in early 2020. Tasked with managing the Libra network and reserves, the association will offer security researchers up to $10,000 for reporting critical bugs. Facebook will provide the funds, according to the association

https://qz.com/1695569/facebooks-bug-bounty-program-for-libra-offers-hackers-10000/

Looks like all system go for Facebook in launching Libra in 2020 despite the US congress trying to block it at all cost.

Thats a lot of money $10,000 dollars per critical bug was beyond my expectation i wish im a skillful hacker to do that job! BTW facebook libra was making cryptocurrency accessible to billion of people using the Facebook platform's and their social media brands. if Libra was succesfully launch and already working i think it will be a new chapter of the cryptocurrency industry.

[davinchi]

Lol, I love their method anyway, it would only help them to build a stronger system that would be void of hacking, and for them to have gone to this length, it means that whatever platform that they are building would really be out to mean business, this might indeed be the glad currency proposal, and if it is that, security would not be the issue.

The acceptance of the system is what will be their headache as the Libra coin they are coming out with is a centralized coin, and this will not attract people as they would know that their information can  still be complicated and the transferred directly to government.

Bitcoin would still be the most acceptable digital coin that the world can ever reckon with, but Facebook will still be useful to a length, and their security will surely be solid.