Safety Detectives: Please share your company background, how you got started, and your mission.
Hackrate: I founded Hackrate with my co-founder, Levente Molnar, in 2020. We had previously worked together in IT security, and we developed our bug bounty platform mainly based on our experiences in penetration testing and bug hunting.
We believe that bug bounty will become the primary standard in security testing. Our mission is to build a platform for ethical hackers that they love to use.
SD: What is the main service your company offers?
Hackrate: Hackrate is a B2B company providing different types of cybersecurity services based on the clients’ needs.
- Managed Vulnerability Disclosure Policy (mVDP): With mVDP we help companies to enable security researchers to report potential security bugs on their products and minimize the risks of disclosing vulnerabilities through inappropriate channels.
- Penetration Testing as a Service: With PenTest as a Service we help to secure businesses in a safe and controlled way. It provides a unique, in-depth evaluation of how IT systems are prepared for real-life attacks.
- Managed Bug Bounty Program: With Managed Bug Bounty Program companies will be able to identify security weaknesses before cybercriminals do. It provides a comprehensive test of the companies’ defense capability.
SD: What is something unique that helps you stay ahead of your competition?
Hackrate: The key players in the market are doing a great job to make the terms ‘bug bounty’ globally recognized. However, we provide unique security testing tailored to our customer’s business needs, and our cost/benefit ratio helped a lot to stay ahead of the competition.
SD: What do you think are the worst cyberthreats today?
Hackrate: The level of cybersecurity risks is based on several factors. For example, there are companies where malicious actors with automated tools (ransomware attacks) can easily cause damage because of outdated software. For other companies, nation-state actors and AI-powered attacks are considered the worst threats today.
We have seen many times that OWASP Top 10 vulnerabilities remain undetected for a long time, which can easily lead to data breaches. We are working to detect cybersecurity risks and protect companies against these threats.