Rand’s report is based on unprecedented access to a database of zero days from a company that sells them to governments and other customers on the “gray market.” The collection contains about 200 entries — about the same number of zero days some experts believe the government to have. Rand found that the exploits had an average lifespan of 6.9 years before the vulnerability each targeted was disclosed to the software maker to be fixed, or before the vendor made upgrades to the code that unwittingly eliminated the security hole.

For many years, critics of the government’s use of zero days suspected the arsenal numbered in the thousands. But a report Healey published with his students last year, based in part on statistical analysis of the number of zero days that get discovered and disclosed each year to bug bounty programs, estimated that the government’s trove likely contained between two dozen and 225 zero-day exploits.

It’s a metric that is particularly important in the policy debate around the government’s use of zero-day exploits; if the U.S. knows about a vulnerability, there’s a good chance others do too and are quietly exploiting it. If the data shows there is high probability that criminal hackers or nation-state hackers from Russia or China could discover a vulnerability and create an exploit for it, this can be an argument for disclosing the vulnerability sooner rather than later to get it patched. But if that probability is low, the government can use it to justify nondisclosure and keeping people at risk longer.

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