(Bloomberg View) -- A security hole is a terrible thing to waste. If an exploit has the potential to affect a lot of people -- for example, a hack to break into an iPhone -- it could be quite a valuable asset.

Most of the time, security experts employ the principle of responsible disclosure. That means that somebody who discovers a security hole will allow the manufacturer to patch the flaw before telling everyone else about it. In exchange, the researcher gets a finder’s fee, or “bug bounty.”

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