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Bugv Signs MoU With Center For Cyber Security Research and Innovation For Mutual Welfare

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11th October 2021, Kathmandu

Bugv Signs MoU With Center For Cyber Security Research and Innovation (CSRI) For Mutual Welfare

Bugv is a bug bounty and vulnerability coordination website. It connects companies with penetration testers and cybersecurity experts. Whereas, CSRI aims to provide industry-driven cybersecurity analytical conclusions that have a real-world impact. CSRI aims to raise problem awareness through business analysis while promoting sound cybersecurity practices.

Recently, Bugv and the Center For Cyber Security Research and Innovation (CSRI) have developed a Memorandum of Understanding (MoU). The main purpose of this MoU is to create key areas of cooperation that will enable the creation of long-term commercial possibilities. This is to focus on the potential sectors of Information Technology services. Where both parties will share confidential technical and business information.

According to the statement provided by the officials, both parties will have to perform the obligations assigned. Where Bugv will provide possible free platform services also endorse online and offline events for CSRI. Similarly, CSRI will be promoting Bugv’s platform and refer them to their state holders.

In addition, each party has the right to promote the other as a partner on a variety of social media platforms. For instance, brochures, booklets, and publications, Facebook, Twitter, Instagram, and other social media platforms.

The official document of MoU is signed by the CEO/Founder of Bugv Software Technologies Pvt. Ltd. Mr. Naresh Lamgade following by the president of Center For Cyber Security Research and Innovation(CSRI) Dr. Subarna Shakya.

Bug-Bounty Platform

Nepal’s First Bug-Bounty Platform, ‘BugV’

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31 December 2020, Kathmandu

Nepal’s first bug-bounty platform, ‘BugV’ has been made public. For the first time in Nepal, Cynical Technology Pvt. LTD has brought such a platform. The main aim of this platform is to make cybersecurity services cheap and accessible.

The work of ethical hackers and cybersecurity researchers are easy now. They are able to detect and reward the risks of various companies’ systems and software. With the aim of making BugV a global product, it was brought into the market. If ethical hackers find bugs on any platform, they can report them by using BugV. “We will provide a reward with a certain amount based on the buys to such hackers”, said Lamgade.

BugV: Bug-Bounty Platform

Naresh Lamgade is the founder of Cynical Technology. He said the services would be cheaper because companies would only have to pay for bugs. The companies won’t have to pay for testing their software systems.

BugV has also set digital payments in collaboration with eSewa and Fonepay. The six different companies are listed in BugV. Their bugs will get detected by ethical hackers. Esewa is also included in this list. The list of other companies will be public in the next few days.

The client companies and organizations have to pay a certain fee to get listed on this platform. Also, they have to pay the ones who find bugs. Cybersecurity researchers can get connected free of cost from around the world.

According to Lamgade, service seeking companies and organizations can determine the price of the bugs that can be found in their products and software systems.

BugV organized a live hacking event on its platform last Friday. As soon as they fix the found bugs, the platform will be public, the company said. The government bodies will also get both private and public services. In which they can find the security vulnerabilities in their system through hackers.

Due to the lack of proper means of communication, data breaches and leaks are taking place. The concerned companies and the platform finding bugs don’t have a secure means of communication. BugV would also solve this problem, Lamgade hopes.