Facebook cooperates with HackerOne to find vulnerabilities in Libra

Facebook representatives said that the company intends to cooperate with the vulnerability search program HackerOne. The goal of this collaboration will be to protect the Libra cryptocurrency project from vulnerabilities.

Earlier, government regulators insisted that Facebook postpone the implementation of the project, since Libra, according to authorities, poses a potential threat to the global financial system.

“It’s important to note that the Libra Blockchain remains in testnet, which is an early-stage version of the code that is far from final. We remain committed to taking the time to get this right and we will not launch the Libra Blockchain until regulatory concerns have been taken into account and required regulatory approvals have been received”, — said Dante Disparte, head of Policy and Communications, Libra Association.

Despite these attacks, Facebook together with partners decided to move on. To demonstrate the seriousness of its intentions, the company plans to launch a vulnerability search program.

Dante Disparte
Dante Disparte

Experts can earn up to $ 10,000 for detecting gaps in the code of projects developed in the test network.

“We are organizing a bug search program right now, long before the Libra blockchain is put into operation. We hope that people around the world can use Libra for their daily financial needs”, – comments Dante Disparte.

The launch of the program for finding errors in the Libra test network, which is not yet commercially viable, not to mention the fact that it is not even approved at the legislative level, seems potentially premature.

Read also: WSJ discovered that Facebook is close to launching its own payment network

Some could view the launch as an overabundance of caution; others could call it a public relations stunt meant to assuage the public and lawmakers about the security of a system that has no guarantee of even launching.

Experts also believe that instead of rewards for finding security errors, Facebook and the Libra Association should focus on legal issues and potential barriers that their payment system could create for the global financial system.
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Daniel Zimmermann

Daniel Zimmermann has been writing on security and malware subjects for many years and has been working in the security industry for over 10 years. Daniel was educated at the Saarland University in Saarbrücken, Germany and currently lives in New York.

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