White hat hacking, or ethical hacking, is a crucial component of cybersecurity. It’s hacking that allows “good guys” to dissect applications, report security vulnerabilities to vendors, and use the information to improve the ecosystem's security posture.. it exists in places including the cloud, artificial intelligence, operating system security and more.
However, the underlying truth is that white hat hackers are oftentimes PR-driven and, with the wrong motives, will aim for the boldest headline. For example, “CertiK managed to take $3 million from Kraken without anyone noticing” is a much more intriguing headline than “Researchers found a critical bug in Kraken and saved millions of dollars.”This is where tension becomes high.
Our industry is faced with a high number of bad hackers to fight. Fortunately, even after disappointing developments like this, we are continuing to improve security products and practices, while innovation is steadily moving forward. Industry-side collaboration, where intimate and valuable information is shared between competitors is crucial because, in the end, security is a team sport.