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How to Earn Money as a Bug Bounty Hunter. Are you a coder or white- hat hacker looking to make some money on the side? Bug bounty hunting might be the perfect gig for you. What Is Bug Bounty Hunting? Bug bounty hunting is being paid to find vulnerabilities in software, websites, and web applications. The security teams at major companies don’t have enough time or manpower to squash all the bugs they have, so they reach out to private contractors for help.