In a 2015 paper called "Regulating the Zero-Day Vulnerability Trade," Mailyn Fidler discusses the complex market for zero day vulnerabilities within the global hackonomy.
The legal and illicit trade in zero-days is lucrative and global. The U.S. government is a buyer, with the NSA devoting $25.1 million to “covert purchases of software vulnerabilities” from private vendors during fiscal year 2013, corresponding to an estimated minimum of 100 to 625 vulnerabilities annually. Israel, Britain, Russia, India, Brazil, Malaysia, Singapore, North Korea, and Iran purchase zero-days. Countries can use zero-day vulnerabilities for law enforcement investigations, improving cyber defenses, conducting cyber espionage, and conducting offensive military cyber operations.
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