Uber is offering a $10,000 bounty for security bugs

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Uber is giving its "bug bounty" program two shots in the arm.

The ride-sharing company announced a new program that will pay hackers a whopping $10,000 for each critical problem they find with the app's code. They will also give $5,000 to hackers who flag significant issues, and $3,000 for "medium" issues.

Many tech companies offer similar programs to hackers who help find cybersecurity vulnerabilities in their systems. But Uber's new offer is particularly lucrative. AT&T bounties range from $100 to $5,000 bug bounty, while Google pays from $100 to $20,000.

Uber also said it is creating a loyalty reward program for hackers to help Uber deal with "subtle bugs."

Here's how it works: Beginning on May 1, hackers will have a 90-day window to find four issues that Uber accepts as genuine.

Related: Hackers score 1 million miles for helping United find security bugs

Uber will then issue an additional payout if the hacker finds a fifth bug within those 90 days -- a payment that's equal to 10% of the average payouts for all other issues found during the time frame.

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