Earlier quoted context omitted.
Sorry. Should have clarified. They could get pen testers and it would cost as much as they paid so far. Managing a pen test or a bounty program are very different things. I don't think that they planned to spend $300k in exploits when they first rolled out the bounties. A company serious about security should have both anyway: Security audits + bounty programs. They fundamentally cover different things, with some ove…
Ahh indeed, that was kind of my initial question for the top-commentor. I'm interested in whether Shopify explored getting security consultants in to review this area before going for a bug bounty on it, or went straight to the bug bounty. My personal feeling is that the order of play should be Internal Security Review --> External Security Review --> Bug Bounty as you can use the first two stages to catch all the ba…
Then get custom pen testing and bug bounty programs later. They're a lot of work to get done and get right. pen testing is a lot of investment and preparation upfront[1], bug bounty is on a longer term.
[1] Don't bring people at $2k a day if you didn't think through what they're gonna do.