On May 7, 2026, I started a security research project. The hypothesis was simple: use AI-assisted tooling to find real vulnerabilities in popular open-source projects, report them responsibly, and get paid through established bug bounty programs. I had the skills. I had the tools. I had $2,000 in Claude Max API credits and weeks of personal time. Twenty-six days later, the scoreboard reads: 55 security advisories filed, 1 CVE assigned from my own research, 600+ raw findings across 30+ repositories, and exactly $0 collected.
This is not a complaint. This is a data set.
The common narrative around bug bounties goes something like this: platforms like HackerOne and Bugcrowd connect security researchers with companies willing to pay for vulnerability reports. Companies get cheaper security testing, researchers get rewarded for their expertise, and open-source projects get safer. Everybody wins. The 9th Annual Hacker-Powered Security Report claims $81 million paid to researchers across 580,000 validated vulnerabilities.1 That number sounds transformative until you divide it by the 50,000+ earning researchers on the platform, which gives you roughly $1,620 per researcher per year.
Bugcrowd's own SVP of Operations published a post in 2024 warning aspiring full-time hunters that the income is inconsistent and most cannot sustain themselves on bounties alone.2 Only 13.7% of HackerOne researchers report that bounties represent 90–100% of their income.3 The rest treat it as a side project, a learning exercise, or a credential-builder. That last category is where I landed without choosing it.
The economics are broken because discovery costs collapsed while remediation costs stayed constant.
Mackenzie Jackson, Aikido Security, April 20264
Before you can submit a vulnerability report to most paying programs on HackerOne, you need something called Signal. Signal is a reputation score derived from the ratio of your accepted reports to your rejected ones.5 New researchers start with no Signal. Programs with the highest payouts require high Signal. This creates a catch-22 that the platform itself documents openly: you cannot access high-value programs without a track record, and you cannot build a track record without access to programs that will accept your reports.6
I experienced this directly. My first two reports to Anthropic on HackerOne were closed as duplicate and informative, respectively. One in 23 minutes. The reputation penalty from those two closures now blocks me from submitting to any new HackerOne program for approximately 30 days. Two strikes on your first attempt, and the platform locks you out. Not because the findings were wrong, but because someone else found them first or the triage team classified them as by-design.
What $2,000 in API costs produced
- 55 GitHub Security Advisories filed across 15+ repos. 47 in triage, zero responses.
- 5 HackerOne reports across GitLab and Anthropic. 2 live, 2 burned, 1 boosted existing.
- 2 MSRC submissions for Microsoft open-source. Token expired before confirmation.
- 1 0din.ai submission to Mozilla. Response overdue by 7 days.
- 1 Vercel responsible disclosure email. Waiting.
- 1 CVE assigned from own research (CVE-2026-45426). $0 payment. Credit only.
- 1 NLTK pull request with CI green, awaiting merge. $0. Credential only.
- Honest probability-weighted expected value of everything active: $611.
Then there is the AI flooding problem. In 2025 and 2026, the bug bounty ecosystem experienced what multiple sources describe as a crisis. TechCrunch reported that Bugcrowd saw submissions quadruple in three weeks, mostly AI-generated fakes.7 Daniel Stenberg shut down curl's entire HackerOne bounty program because only 5% of submissions were legitimate, with roughly 20% appearing to be LLM-generated.8 Axios reported that popular open-source projects that previously received 2–3 bug reports per week began receiving hundreds at once.9
The irony is suffocating. I am using AI-assisted tooling to find real vulnerabilities, write working proof-of-concept exploits, and submit them through legitimate channels. The people spraying hallucinated reports from ChatGPT have poisoned the well so thoroughly that platforms are now pausing programs entirely. HackerOne paused its Internet Bug Bounty program in March 2026.10 Then in May, they slashed remaining rewards by 75% or more: critical bugs dropped from $9,250 to $2,257, medium from $1,843 to $297.11 Node.js paused its bounty program entirely because its sole funding source was the IBB.12
GitHub's Security Advisory system, the GHSA, is the other major channel for independent researchers. I filed 55 advisories. The data from Socket.dev reveals why the silence is structural, not personal: a study found only 8% of 288,000+ GHSAs have been formally reviewed by GitHub, and unreviewed advisories do not trigger Dependabot alerts.13 The GitHub Community discussion on security advisory improvements documents complaints from researchers about the lack of a researcher-friendly disclosure workflow.14 When I file a GHSA, it enters a queue with a 92% chance of never being reviewed.
One skilled researcher paired with an AI hackbot will outproduce entire teams from a volume perspective, but this concentrates earnings further among those who can afford and operate sophisticated tooling.
Joseph Thacker, "This Is How They Tell Me Bug Bounty Ends," June 202515
The CVE system itself nearly collapsed. In April 2025, MITRE's contract to operate the CVE program almost expired, averted only by an 11-month extension.16 The system that gives researchers "credit" for their discoveries is held together with expiring government contracts. My CVE-2026-45426 is a line in a database that almost ceased to exist. It pays nothing. It might help with a future job application, or it might not.
A Tidelift survey of 437 open-source maintainers found that 60% are unpaid, and 60% have quit or considered quitting.17 Unpaid maintainers produce half the security outcomes of paid ones. The people I am trying to help by filing security advisories are themselves working for free. When they see my GHSA notification, it is another unpaid task in their queue, submitted by a stranger who also will not be paid for filing it. There is no incentive anywhere in this chain.
The veteran researcher Joshua Rogers published a first-person account of his 2025 bug bounty experience. He received $1,500 for an Okta issue, but only after Hacker News pressure forced the payout. His summary of the year matches mine: rejected findings, low payouts, platform friction.18 The difference is he has years of reputation. I have 26 days.
Here is what the data actually shows. Over 26 days of work, across 12 sprints using up to 40 parallel AI agents, scanning 30+ codebases containing hundreds of thousands of source files, I produced 600+ findings. I narrowed those to 55 actionable advisories. I wrote working proof-of-concept exploits for the strongest ones. I followed every responsible disclosure protocol. I read every SECURITY.md. I checked for competing reports before every submission. And the system responded with silence, gatekeeping, and zeros.
The dashboard on this page says my pipeline is worth $15,109. That number is technically correct in the same way that a lottery ticket is technically worth its expected value. The honest, probability-weighted number is $611. The probability that I collect more than $1,000 in the next 30 days is 35%. The probability that the $2,000 I spent is recovered in the next 90 days is lower than that.
I am not the first person to discover this. I will not be the last. But the gap between the narrative and the reality deserves documenting. The narrative says: find bugs, report them, get paid, make software safer. The reality says: find bugs, navigate platform gatekeeping, compete with AI spam floods, wait in review queues that process 8% of submissions, collect a CVE number worth $0, and watch the bounty programs you depend on get paused or cut by 75% while you are mid-submission.
The $2,000 was not wasted. It bought an education in how security research economics actually work. It built a database of findings that may eventually pay out. It produced this document, which is the most honest accounting I have seen of what happens when someone tries to enter this field from zero.
If you are considering doing what I did, read this first. Then read the citations below. Then decide whether the economics make sense for you. For most people, they will not.
References and further reading
- HackerOne, "9th Annual Hacker-Powered Security Report: The Rise of the Bionic Hacker" 2025
- Michael Skelton, "The Shocking Truth You May Not Know About Being a Full-Time Bug Hunter" Bugcrowd, Jun 2024
- Bugcrowd, "Inside the Mind of a Hacker: 2024 Edition" 2024
- Mackenzie Jackson, "Bug Bounty Isn't Dead, But the Old Model Is Breaking" Aikido Security, Apr 2026
- HackerOne, "Signal Requirements" HackerOne Help Center
- HackerOne, "Reputation" HackerOne Help Center
- Lorenzo Franceschi-Bicchierai, "AI Slop and Fake Reports Are Coming for Your Bug Bounty Programs" TechCrunch, Jul 2025
- Simon Sharwood, "Curl Shutters Bug Bounty Program to Remove Incentive for Submitting AI Slop" The Register, Jan 2026
- Axios, "AI Agents Are Flooding Open-Source Maintainers with Security Reports" Mar 2026
- Dark Reading, "AI-Led Remediation Crisis Prompts HackerOne to Pause Bug Bounties" Apr 2026
- The Register, "HackerOne Takes an Axe to Its Bug Bounty Rewards" May 2026
- Node.js, "Security Bug Bounty Program Paused Due to Loss of Funding" Apr 2026
- Sarah Gooding, "OpenClaw Advisory Surge Highlights Gaps Between GHSA and CVE Tracking" Socket, Mar 2026
- GitHub Community, "Security Advisories Feature Requests and Improvements" GitHub Discussions
- Joseph Thacker, "This Is How They Tell Me Bug Bounty Ends" Jun 2025
- Brian Krebs, "Funding Expires for Key Cyber Vulnerability Database" Krebs on Security, Apr 2025
- Sarah Gooding, "The Unpaid Backbone of Open Source: Solo Maintainers Face Increasing Security Demands" Socket, Sep 2024
- Joshua Rogers, "My 2025 Bug Bounty Stories" Dec 2025
- Maxwell Cooter, "Internet Bug Bounty Program Hits Pause on Payouts" InfoWorld, Apr 2026
- Bill Toulas, "HackerOne Paid $81 Million in Bug Bounties Over the Past Year" Bleeping Computer, Oct 2025