Chinese Internet security company Qihoo 360 has launched a new security vulnerability response platform to invite related experts to challenge the security of its products.

The company will provide cash incentives once vulnerabilities are found and confirmed.

Qihoo 360 said this project will include two parts, its client software and website. Anyone who finds security loopholes on Qihoo 360's official website or its software can report the information to the company. Once the existence of the loopholes are confirmed, the hackers will gain a bonus up to CNY10,000, based on the influence and seriousness of the loopholes and security exploits.

Several overseas Internet companies, including Google, Facebook, PayPal, and Mozilla, launched their own respective vulnerability reporting bonus systems. Facebook issued Visa debit cards to a batch of white hat hackers to encourage them to dig out and report security loopholes.

Qihoo 360 has a suite of software in China for desktop and mobile phones that protect users from phishing, malware, spam, and spyware attacks.