New York, July 8:

Good news for hackers and software security experts. Wabisabilabi (WSLabi), a Swiss security firm has created an online auction house called ‘WabiSabiLabi’ to bring together people who can find loopholes in the software used by companies and can find a solution. Many criminal hackers rely on loopholes in widely used software, usually Windows, to get access to the valuable information on computers. Security researchers who find holes in such software can sell their findings to the highest bidder in this new online platform, reported the online edition of BBC News.

They will have to identify themselves to WSLabi but no personal information will be revealed in the public domain. Each buyer and seller will have a nickname under which they will trade. WabiSabiLabi aims to give software experts a legitimate marketplace where they can trade the loopholes they find in a software. It will stop use of these loopholes or vulnerabilities by underground elements, Herman Zampariolo, head of the auction site sa-id. It aims to close the gap bet-ween small number of bugs investigated and the huge number thought to exist in reality.