21 days earlier social networking giant Facebook has launched a new bug bounty program for which they have spent over $40,000 yet, not only that in the mean time one of the security researcher has earned over $7,000 just for finding six server bugs within behemoth’s code of this social networking giant.

For a long time this social networking website has been the main target of cyber criminals who in general uses this website for selling fake goods, sending spam as well as stealing personal information. But with the help of confusing privacy settings and site’s lackluster program this has been removed completely.

This program has started to take its step in such a situation while an in-house team of this social networking giant Facebook has decided to find out and resolve these bugs. With the sequence to the fact yesterday in a blog post Joe Sullivan, Facebook Chief Security Officer, has stated “This new bug program has proved highly helpful in this present environment.”

Sullivan has also stated “Through out our entire journey we have realized that there are many talented security experts all around the world, who have no connection to work with Facebook. But the matter of fact is we have received some excellent support from those researchers as they first inform us about the bugs which they have found. With the sequence to the fact couple of years ago we have decided to form “whitehat” program – which already encouraged them well and in the mean time helped us to judge the right talent for Facebook.  ”

Tough, it’s worth nothing because for these similar types of security related issue Mozilla and Google always pay thousands of dollars to their external security experts.