Joseph Cox, writing for Motherboard: Last week, Apple finally joined other technology giants and announced a bug bounty programme, where hackers can submit details of previously unknown vulnerabilities in Apple systems and devices, and get paid for sharing them with the company. But Apple is not going to be without competition. On Wednesday, established bug-hunting company Exodus Intelligence launched its own new acquisition programme for both vulnerabilities and exploits. And when it comes to iOS bugs, the company is offering up to more than double Apple's maximum payout. While Apple's highest bounty is $200,000, Exodus is advertising a maximum of $500,000 for vulnerabilities affecting iOS 9.3 or above. Exodus provides details of vulnerabilities and working exploits to customers who pay a subscription fee of around $200,000 per year, according to Time. Those customers could be on the defensive side -- such as antivirus vendors who want to plug newly discovered holes -- or part of an offensive team using the exploit to target systems themselves. On its site, Exodus emphasises the former, writing that it "works with the research community to find these attacks first and make them available to security vendors and enterprises, allowing them to deploy defenses before their adversaries can attack."