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Glosfer Partners with KISA to Jointly Operate New Bug Bounty Program for HYCON

Signing of the Agreement

First Case of Public-Private Partnership to Enhance the Security of the Blockchain Platform

SEOUL, SOUTH KOREA, November 6, 2018 / -- Glosfer (CEO Taewon Kim) announced on November 2nd that it has signed an agreement with the Korea Internet and Security Agency (KISA) to jointly operate a new bug bounty program to create a safer online environment.

KISA has endeavored to build a world-class information security system to ensure that Korea and its citizens are safe in cyberspace. To promote the bug bounty program, the agency recently hosted “Hack the KISA,” a hackathon contest that awarded participants who successfully hacked the website of KISA.

Under the agreement, Glosfer and KISA will provide software patches in case any network vulnerability is found on HYCON, a blockchain platform Glosfer developed with in-house technology, to build a safer blockchain network. KISA will encourage security experts to review HYCON’s source codes available on GitHub to find bugs, and Glosfer will provide patches for those vulnerabilities.

A KISA official said, “We will expand the bug bounty program to proactively enhance security of the industry that has emerged with the advancement of the ICT environment.”

CEO Taewon Kim of Glosfer said, “HYCON is the first and only blockchain project thus far to work with KISA for the public verification of its source codes. The codes have already been reviewed by well-known overseas hackers, but we decided to work with KISA to get the codes reviewed by security experts in Korea as well,” and added, “We will work hard to make Korea a proud frontrunner in the era of the fourth industrial revolution.”

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