Snapchat, a Smartphone application that lets users share snapshots with friends is catching fire among teenagers. It was first hacked in December when 4.6 million Snapchat users were exposed in a database breach. The denial-of-service attack and CAPTCHA Security bypass were discovered by other researchers within last two-three weeks. Snapchat has no Vulnerability Reward Program, but still many penetration testers are working hard and free of cost to make the application more secure by disclosing flaws. Facebook offered $3 Billion to purchase it but the SnapChat CEO rejected the offer.
Source: https://thehackernews.com/2014/02/snapchat-user-accounts-vulnerable-to.html