SINGAPORE, June 15, 2023 /PRNewswire/ -- SquareX, led by serial cybersecurity entrepreneur Vivek Ramachandran, is developing a browser-based cyber security product to safeguard consumers online. In May 2023, SquareX secured a seed round of USD 6M from Sequoia Capital South East Asia and is now preparing to launch the product globally.
In recent years, Americans have suffered significant financial losses due to online scams and hacks. As technology continues to advance and the digital landscape expands, cybercrime is expected to rise both in the United States and worldwide. However, the traditional cybersecurity products dominating the market, such as antivirus software, anti-malware tools, and VPN solutions, have seen minimal innovation in addressing the evolving threats. Moreover, they often hinder consumer productivity by blocking access to files, websites and resources, causing fear and prompting users to uninstall them, leaving users even more vulnerable to attacks.
Recognizing the need for a fresh and effective approach to restore consumer confidence in online safety, SquareX is committed to challenging the status quo of traditional cybersecurity products by engineering a solution from the ground-up, purpose-built to tackle the current generation of threats.
Unlike traditional security companies, which wait for hackers to find and report security bugs to them, SquareX is taking an unconventional step by announcing a Bug Bounty program before the product's official launch. This program invites hackers, security researchers, and the wider community to test and uncover potential security vulnerabilities, demonstrating SquareX's dedication to real-world battle testing.
The Bug Bounty program will span over six weeks, from Thursday, 15 June 2023 to Thursday, 27 July 2023. During this period, bug bounty hunters are encouraged to help, battle-test and harden the product. As an incentive, SquareX is offering rewards totalling up to $25,000 for successfully discovered and reported vulnerabilities.
"SquareX has a strong culture of research and hacking, with multiple team members having previously discovered security vulnerabilities and having disclosed them at top security conferences" stated Vivek Ramachandran, Founder of SquareX. "We invite the global hacker community to participate in this Bug Bounty program, and help us discover vulnerabilities. I hope in doing so, we will be able to launch a world-class cybersecurity product that consumers can use and be fearless online."
By opening its product to be rigorously tested by hackers worldwide, SquareX aims to establish trust, a pivotal factor in winning customer confidence over to embrace their solution. Hopefully, this will encourage other consumer focussed companies to follow suit.
About the Bug Bounty Program:
The Bug Bounty Program will kick off on Thursday, 15 June 2023 and run for a period of six weeks, ending on Thursday, 27 July 2023. Interested participants can find detailed information, including guidelines, scope, and rules, on Bug Bounty Program webpage: https://malware.rip/
SquareX is a Singapore-based start-up founded by Vivek Ramachandran, a renowned cyber security professional and serial entrepreneur. With a vision to make consumers fearless online, SquareX is developing a browser-based security solution for consumers. This solution aims to provide users with control, freedom, and security while browsing the web.
The company recently raised $6 million in a seed round led by Sequoia Capital South East Asia, enabling them to accelerate the development of their revolutionary security solution. With a contrarian view towards consumer security, SquareX aims to empower individuals to be safe and productive online
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