Microsoft on Wednesday announced its first ever formal program to pay security researchers for finding software vulnerabilities in its newest products. The bug bounty program will launch on June 26 and be formally unveiled at the upcoming Black Hat Briefings hacker conference in Las Vegas at the end of July.  And, though late to the party, Microsoft is making up for lost time by going large. The Redmond, Washington software maker will pay researchers up to $100,000 for “truly novel” exploitation techniques that defeat protections built into the very latest version of Windows, 8.1 Preview. It will additionally pay $50,000 for ideas for defensive strategies that accompany a bypass, raising the total potential purse for an exploit and accompanying remediation to $150,000. Additionally, Microsoft announced a short-term bounty program for its Internet Explorer 11 Preview, with the company paying up to $11,000 USD for critical vulnerabilities that affect Internet Explorer […]