PolySwarm offers bounty to form global community for threat detection

Home of Our Lady of Providencia localized on Ponce de León avenue in San Juan, Puerto Rico. PolySwarm is located at 1413 Ponce de León Ave.

San Juan, Puerto Rico-based decentralized IT security platform PolySwarm announced in a press release CoinReport received a Security Expert Bounty Program, which will reward participants in Nectar tokens (NCT) for uploading malware to the marketplace.

Launched January 19, the contest will continue until the conclusion of the NCT token sale on March 8. With a maximum of $6,025 to be rewarded each day, rewards will be capped at $300,000. The platform anticipates a median upper bound of 1,334 submissions per day, adding up about 64,000 files over the contest’s duration.

Each user can submit a single file per day, and the first five files per malware family will be accepted. All files will be assessed on the next day. NCT will be rewarded for malware samples that are unique to all other submitted samples and are caught by ClamAV.

The amount of NCT rewarded will be tiered in the sequence of submission within its malware family, and each day a bonus malware family will be mentioned on the marketplace’s Telegram group.

PolySwarm founder and CEO Steve Bassi said in the press release we received, “Our mission at PolySwarm is to incentivize a global community of security experts to disrupt the $8.5 billion cyber threat intelligence industry, and this program will develop the network to achieve this.

“By introducing a program encouraging innovation and competition, the market will reward experts who are best able to protect users.”

Image credit – Moebiusuibeom-en  (CC BY-SA 4.0)