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Ratings buglab

Cybersecurity Penetration Testing

Buglab leverages the power of the Ethereum blockchain to enable attainable, versatile, and reliable penetration testing for digital enterprise solutions. The platform links organizations that have information security needs with a community of certified cybersecurity penetration testers in an incentivized environment. At the center of buglab's ecosystem, there are two programs - the Buglab Contest and Vigilante Protocol , helping companies all over the world to discover and fix vulnerabilities.

3.2
20 expert ratings
4.1
3.0
3.4
2.8
View rating distribution
Ended
Token
BGL
Price in preICO
1 BGL = 0.15 USD
Price in ICO
0.1500 USD
Country
Whitelist/KYC
KYC & Whitelist
Restricted areas
USA, China
preICO start
30th Jun 2018
preICO end
4th Aug 2018
ICO start
11th Aug 2018
ICO end
11th Sep 2018
More on ICO
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Ratings

Douglas Lyons
Board Advisor- Early Adoption and Strategic Partnerships
Rated on Jul 3, 2018
Modified on Jul 24, 2018
1
1
1
6%

incentivization and rewards models do not work for roi.
this is a very neiche product to which i do not believe will achieve any type of mass adoption.
the hard cap is absolutely ridiculous given the project.
nor do i believe there would be any type of short or long term return on investment.
i do not see this as a good investment
https://medium.com/@douglaslyons/roi-and-what-it-means-to-your-ico-project-evaluation-f443be0f83ab

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-5
-10Disagree
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Reda CherqaouiICO team member replied on 26 Jul 2018
Hi Douglas,
Our incentivization model which is based on a contest is the perfect model for SME's while for big companies there is the bug bounty model and it's working good for both customers and companies providing it.
Clemen Chiang
Ph.D. | CEO | Investor | FinTech in Stocks | Blockchain in Cryptos | Singapore
Rated on Jul 19, 2018
Modified on Jul 20, 2018
4
4
4
6%

"Buglab leverages the power of the Ethereum blockchain to enable attainable, versatile, and reliable penetration testing for digital enterprise solutions."

How much do you charge for a standard pen-test report?

+1Agree
0
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Reda CherqaouiICO team member replied on 26 Jul 2018
We have 3 plans you can check them on our private beta at beta.buglab.io
$4K $6K and $8K all paid in BGL tokens
Nikolay Shkilev
PhD | Entrepreneur | CEO | ICO Advisor | Crypto enthusiast | Blockchain expert | Public speaker | Mentor
Rated on Jul 9, 2018
3
4
2
6%

Quite good team, but it is necessary to strengthen it cryptospecialists and experts who can bring a product to the international markets.
Vision is rather quite good. The project very worthy website and good ambitions, but yet has no product. I will be ready to change the rating as I will see these changes.

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Reda CherqaouiICO team member replied on 26 Jul 2018
Hi Nikolay,
We have already published a private beta available to both cryptocurrency exchanges to run pentests for free and cybersecurity researchers you can check it here beta.buglab.io
Nozomu Nakazato
ICO consultant
Rated on Jul 9, 2018
3
3
2
6%

The fight with hackers is a big burden for companies.
This project has very good ideas for these companies. And it is probably feasible.
How about Pentesters and Whitehats?

"Most familiar penetration testers and whitehats do not want to disclose their financial information in order to receive payments, so by creating a token we are able to attract those people."

This is written in the white paper. Surely it may be. But will they willingly accept currencies where the value is not promised to stabilize or rise?
What happens if the value of the currency plummets? The project does not explicitly state measures to maintain prices.
This is a common question for this project.

+10Agree
+8
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Reda CherqaouiICO team member replied on 26 Jul 2018
Hi Nozomu, the contest prices are fixed $4k, $6K or $8K paid in tokens, which means that the pentesters will get different amount BGL depending on the price the company paid and value of our token.
Dmitry Pshenin
Partner crypto fund | Marketing |Blockchain entrepreneur|Fundraise capital |Influencer
Rated on Aug 22, 2018
4
4
3
6%

1. I don't see a problem with the team. Quite an experienced team with high motivation to change the world. To implement such a project, you do not need a large staff of developers. As for marketing, I think that during the ICO they will find good marketing team.

2. The vision is correct, I think that blockchain will make the testing market transparent. It's bound to happen.

3. The product unfortunately did not see. I followed the Beta link.buglab.io, but I have nothing not opened

+3Agree
+3
Disagree
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Karnika Yashwant
ICO Marketing Expert | Launch Strategist | Global Branding and Fundraising Master
Rated on Jul 9, 2018
3
4
3
6%

Team is strong as who they are, but they need more blockchain experienced members in there.

I like that its KYC passed, but with just 25 days, I expect marketing to be more stronger and faster to be able to achieve the hardcap.

+2Agree
-1
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Reda CherqaouiICO team member replied on 26 Jul 2018
Hi Karnika, we are doing our best to manage the sale and also the contests we are running for the cryptocurrency exchanges
More about it : https://cointelegraph.com/news/platform-to-launch-security-audit-contests-for-crypto-exchanges-with-2-million-reward-pool
Mohit Tater
Blockchain & ICO Advisor, Investor, Serial Entrepreneur
Rated on Jul 9, 2018
4
4
3
5%

Good idea and great product, but I think using blockchain technology is not a necessity here. Team is definitely good but it's a niche product and hard to market. Will be tough to get ROI for investors.

+1Agree
-6
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Reda CherqaouiICO team member replied on 26 Jul 2018
Hi Mohit, if you read the whitepaper you will understand that this product can't be live without the blockchain, join our telegram and we will answer all your questions
Yaroslav Belkin
Ex Cointelegraph and NewsBTC Media Group | Founder and CEO at Belkin Marketing
Rated on Jul 19, 2018
3
3
2
5%

The only thing that I like about this project is the team. Solid group professionals as it seems. But is it enough for a successful execution of such project? I don't think so. I see a lack of major business expertise here. What surprises me even more is how weak a product it is at this point. How weak a marketing and PR campaigns are.

Maybe it's just to early for you guys to hit the market?

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Reda CherqaouiICO team member replied on 26 Jul 2018
Hi Yaroslav, we have been working on the project since 2016 and we published recently a private beta for cryptocurrency exchanges with contests already live and running
you can read more about it here : https://cointelegraph.com/news/platform-to-launch-security-audit-contests-for-crypto-exchanges-with-2-million-reward-pool
John Papadopoulos
Crypto-currency enthusiast, Miner, ICO analyst, Angel investor, ICO investor,Strategist
Rated on Jul 9, 2018
Modified on Jul 31, 2018
2
3
2
5%

Why does this has to be decentralized again? Is there any actual reason? Decentralized cyber security? What does that even mean? Is the token going to have any intrinsic value? No one knows.

+4Agree
+2
-2Disagree
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Gaurav Areng Chakraverti
Entrepreneur, Marketing Advisor, ICO Advisor, currently CMO and Co-Founder
Rated on Jul 14, 2018
Modified on Jul 16, 2018
2
3
3
4%

A "company" even a company running an ICO is still, at its core, a "company". A company, cannot function with a CEO alone with a room full of people under him/her. You're talking about global penetration, B2B adoption all across the world... how? The vision is fine. Definitely do see a need, although, that market is so niche that it will be a long, long walk to any kind of break-even point. Having a min investment of 6.67 ETH is also completely killing your investor network, considering you have a bounty well as a bonus, and you're looking to raise 20 million dollars to aid 9 people executing a software protocol.
Nothing against the scope. It's definitely doable, and I honestly feel this can be achieved even without an ICO. As a side note, the offer is no niche that I'd suggest just doing away with the bounty altogether. Possibly even the bonus. The roadmap also leaves a lot more questions than answers.

+2Agree
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Reda CherqaouiICO team member replied on 26 Jul 2018
Hi Gaurav, please check our beta.buglab.io that we published recently for cryptocurrency exchanges and this article https://cointelegraph.com/news/platform-to-launch-security-audit-contests-for-crypto-exchanges-with-2-million-reward-pool
Antoun Toubia
Chief Excutive Officer at United Capital Investments s.a.
Rated on Jul 16, 2018
2
2
2
4%

Very poor ICO, the team is just a group of beginners, and has no relation to how to run a business , all they know is some IT. Also the idea is not unique at all, and penetration testing is not something that can bring value or huge profit to any business, these days with few bucks you can go online without these companies, and do the necessary testing.

This product and token will eventually fail cause there will be no demand for such service. Also the team soft cap is too much, as well the hard cap. People think they come up with some hundred bux product and ask for millions, i would never touch this ICO.

Agree
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Reda CherqaouiICO team member replied on 26 Jul 2018
Hi Antoun, if you really believe that as you said "This product and token will eventually fail cause there will be no demand for such service" let us finish the ICO and we will buy you a interstellar travel ticket to Planet Earth because you are living out of the milky way galaxy
Alexander Mitrovich
Managing Partner, Usetech.com
Rated on Jul 12, 2018
4
4
4
4%

This is a very niche project, which for me is a very good thing - no moons and no outlandish promises. It's big minus is large caps with a small percentage of tokens for the ICO. But if they get the project off the ground, this type of business is an excellent acquisition target, for which my rating is higher then usual.

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Reda CherqaouiICO team member replied on 26 Jul 2018
Thank you Alexander for your feeback, i want to share with you this article https://cointelegraph.com/news/platform-to-launch-security-audit-contests-for-crypto-exchanges-with-2-million-reward-pool and let you know that we have a private beta already published.
Mofassair Hossain
CEO and Founder Perhalic, ICO Advisor, Investor, PR and Marketing Expert
Rated on Jul 16, 2018
Modified on Jul 22, 2018
1
1
1
4%

Team is Experienced and Good... There are some good Number of Developers on Board but see only one Person in Marketing Department.
Vision is quite good but i am scared because team have to market this project in full pace to get max exposure. but lack of Marketing person on Board.
Dont have MVP looking forward to see the MVP.
update rating :
reach to me for selling rating this is very bad approach of team members. shame on you guys.

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Reda CherqaouiICO team member replied on 26 Jul 2018
Hi Mofassair,
We published recently a private beta working for both cryptocurrency exchanges and cybersecurity researchers with contests already live and running beta.buglab.io
Read more about it : https://cointelegraph.com/news/platform-to-launch-security-audit-contests-for-crypto-exchanges-with-2-million-reward-pool
Timothy Mayeur
Ecom Activator | ICO Advisor
Rated on Jul 6, 2018
3
4
4
4%

Cybersecurity is a huge industry and great space to play in. This area also appears to be the CEO's passion, having direct experience. At only 40% token sale allocation for $20M hard cap seems very high. This project caught my eye because it's definitely not a "more of the same" type of project. Milestones needs more meat around how to grow and noticed not a lot of experience outside of Europe, so there should be something in roadmap around international expansion.

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Reda CherqaouiICO team member replied on 26 Jul 2018
Hi Timothy, please check our beta version beta.buglab.io and this article https://cointelegraph.com/news/platform-to-launch-security-audit-contests-for-crypto-exchanges-with-2-million-reward-pool
Reinhard Berger
CEO Pecunio Blockchain Technologies
Rated on Jul 6, 2018
5
5
5
4%

Quite a strong and experienced team, and a niche product. This can be in advantage in an otherwise overcrowded ICO market. Achieving an somehow rewarding return on investment will be a challenge, though. Best of luck!

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Reda CherqaouiICO team member replied on 26 Jul 2018
Thank you Reinhard for your feedback
Doris Cornago
Account and Investor Relations Manager at Utopian Capital
Rated on Jul 19, 2018
3
3
3
3%

The team needs to be a good mix of professionals who are adept in their fields. Keep looking for more qualified people to make the team stronger and get good advisors, too. An ICO needs full firepower to make it beyond the launching stage. Marketing is crucial.

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Reda CherqaouiICO team member replied on 26 Jul 2018
Hi Doris, we believe that an ICO needs first that the team provides an MVP and our team already published a private beta, size of the team doesn't matter sometimes ...
Phil Millo
Blockchain Expert | Family Office Owner | Entrepreneur | ICO Advisor | Global Speaker
Rated on Jul 15, 2018
Modified on Jul 15, 2018
3
4
4
3%

VISION: I think this a very compelling vision. Some reviewers have commented that (a) there may not be enough of a market for widespread adoption, and (b) there might not be a need for the blockchain. The former may be true as this is a relatively niche market -- but I disagree with the latter as, in this case, the blockchain offers not only decentralisation but also, critically, the promise of general interoperability. 4/5.

TEAM. The team is strong. However businesses like these need to focus as much (if not more) on B2B partnerships and sales, rather than just cyber security and blockchain. For this reason, I'm scoring 3/5.

PRODUCT: Without actually auditing their Github code (at least they have an account), I'm scoring this higher than mid-marks since the whitepaper contains enough science and maths to demonstrate that the team genuinely has some kind of algorithm, albeit early stage. 4/5.

This is not an invitation to invest. ICOs are risk and you can lose everything you put in.

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Reda CherqaouiICO team member replied on 26 Jul 2018
Thank you Phil for your feeback, please check bug bounty platforms and who are their customers then you can check which companies are the most affected by hacks then you will understand that our fixed price pentest service if the best solution for them ( SME's ) please check this article https://cointelegraph.com/news/platform-to-launch-security-audit-contests-for-crypto-exchanges-with-2-million-reward-pool
Alick Mighall
Investor in financial markets & business owner
Rated on Jul 26, 2018
3
4
3
3%

I like the tech credentials of this team. And a couple of good advisors by the looks of it. As a few other people have noted, it's maybe a little light in a few areas. I'm not so concerned by the lack of marketing, as there's a marketing manager, but maybe someone who can provide back up on social engagement, as well as a good product person with a strong testing/QA background as well as some exposure to blockchain.

It's a worthy vision - I like the idea of running pen testing in this way (even testing as a whole)

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Floyd DCosta
Management Consultant - Blockchain Technology | Co-founder @BlockArmour, @BlockchainWorx | Advisor, Chief Blockchain Officer @GBX
Rated on Jul 6, 2018
Modified on Jul 6, 2018
4
5
5
2%

Institutions are feeling the heat as Cybersecurity incidents continue to grow and IT security teams solutions struggle to keep pace. A platform that connects organizations with certified cybersecurity penetration testers (and other professionals) will effectively address a genuine need and capture a fast growing market.

The contest (with live ranking) and integrated hacking prevention program (via the vigilante protocol) make for an interesting approach.

Engaging with CSIRT and CERT's will help with institutional adoption.

Its good to see the niche focus (pen-testing) in an otherwise broad cybersec market.

Pretty comprehensive team. Seems to missing a career CISO. But that might be more a plus, than a minus.

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Reginald Ringgold III
Finance Expert | Inventor | Financial advisor | Blockchain Expert | Business strategy | Investment deals | Investor relations | Founder of BlockVest
Rated on Jul 18, 2018
3
4
3
2%

This is a very impressive project and will fill a much needed void in this space. there are a lot of issues and concerns in the crypto community as it pretains to hacks. This project addresses These issues. Although the explanation of the product could have been done a little better it is a promising project considering if the development team can follow through with everything on the Roadmap.

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Reda CherqaouiICO team member replied on 26 Jul 2018
Hi Reginald, thank you for your feedback, we are working on the project since 2016 and we just published a private beta to help cryptocurrency exchanges get secure
https://cointelegraph.com/news/platform-to-launch-security-audit-contests-for-crypto-exchanges-with-2-million-reward-pool
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ICO analyzer bot
4.1
14%

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