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The Legitimate Vulnerability Market:
The Secretive World of 0-Day Exploit Sales

June 7, 2007

Charles Miller, presented at the Workshop on the Economics of Information Security 2007

Abstract

Trading of 0-day computer exploits between hackers has been taking place for as long as computer exploits have existed. A black market for these exploits has developed around their illegal use. Recently, a trend has developed toward buying and selling these exploits as a source of legitimate income for security researchers. However, this emerging “0-day market” has some unique aspects that make this particularly difficult to accomplish in a fair manner. These problems, along with possible solutions will be discussed. These issues will be illustrated by following two case studies of attempted sales of 0-day exploits.

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