Facebook started a program earlier this month of offering cash rewards for people who found and reported bugs on the social network. These are bugs with Facebook itself, mind you, not third party apps or other sites using Facebook functionality. In the first month, Facebook has already paid out $40,000. Bug finders can collect between $500 and $5000 per problem, depending on the severity. There’s already been one $5000 check written. It’s not a new thing, this system, Microsoft and Google have been doing it for years. Of course, there is the danger that bug hunters could get more from hackers for their exposed problems but if Facebook is paying something that’s going to motivate people with ethics and a fondness for cash. Plus its good PR and transparency for Facebook.