Facebook started a bounty program 21 days ago that is aimed at encouraging security researches, hackers, and crackers a like to provide security bugs to Facebook and not make them publicly available.

The minimum that you can receive for providing a bug is $500 USD but Facebook will pay up to $5,000 for the most serious bugs found. This $5,000 limit has actually already been paid once to a security researcher.

Being one of the most popular web sites on the Internet makes Facebook a primary target for hackers looking to break-in and gain publicity and fame for a take down.

"Facebook has set itself apart from other Internet companies by recognizing this problem and working to overcome it. The social networking site has become one of the first to publish a policy intended to make those who discover vulnerabilities more comfortable coming forward to report them." the Electronic Frontier Foundation said.

Microsoft is another company which has offered such bounty programs before to help track down worm makers, paying upwards to $250,000.

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