Facebook Offers $500 Bounty for Reporting Bugs: Why So Cheap?
pcmag.com
pcmag.com
Google also doesn't offer such bounties when merely reporting bugs. I report all kinds of Canvas issues to Chromium. Half of them aren't even acknowledged, even if they get fixed months later.
Google only gives bounties on security bugs, and as far as I know only significant ones (though we'll see, because I just reported an incredibly minor security bug to Chromium - getImageData in Canary is capable of getting image data from outside the Canvas, which is against spec and a security flaw)
What's more, most bugs will sell for 10x the bounty price on the black market.
Bug bounties aren't intended to be competitive compensation. They are intended to be tokens of appreciation given to people who would be reporting the bugs anyway. In this context, $500 vs. $1000 (a more typical reward from the chrome program) isn't too meaningful.
Whether this works for the researcher or not is up to them.
At best, a bounty program gives me the incentive to look more closely at a particular website / application. But I've submitted plenty of vulnerability reports to companies that don't have bounty programs.
What this bounty really means: if you like finding and responsibly reporting security vulnerabilities, you now have one more reason to spend time doing so on Facebook.
[Note: I've participated in the bounty programs for Google, Mozilla, and CCBill. I've submitted security vulnerabilities to Facebook as well prior to this bounty program]
"I can't pay you to make my website, but you can use it in your portfolio!" springs to mind