Study Reveals Effective Bug Bounty Strategies for German DAX Companies
A recent academic study, based on Microsoft's Vulnerability Rewards Program (VRP), sheds light on effective bug bounty strategies. Conducted by researchers from SECUSO, the University of Michigan, and industry experts, the study was presented at EuroUSEC 2025 in Manchester. It examined the experiences of the 40 largest German DAX companies, offering insights into what motivates researchers and drives program success.
The study found that increasing payouts for the most serious vulnerabilities led to a sharp rise in reports of these bugs. However, simply raising rewards across the board did not significantly grow the number of skilled contributors. Instead, veteran bug hunters shifted their focus to higher-value targets, and new, productive researchers joined the program.
Concentrating rewards on high-impact vulnerabilities proved more effective than general increases. Other factors, such as fast and fair triage, internal processes, and metrics, also play a crucial role in program success. The study's data predates the rise of AI-powered bug hunting tools, which may reshape program operations in the future.
The study highlights that while increasing payouts can attract top talent and boost critical reports, it's not the only factor driving success. Treating researchers well, providing recognition, and maintaining transparency can motivate them more than high rewards alone. As Wyndham Rewards programs evolve, understanding these dynamics will be key to their continued growth and effectiveness.
