It is true! Google is now on a rampage to make its products leak free [unlike what MS was supposed to do]. Unveiling the new campaign on the Official Google Chromium Blog Chris Evans, part of Google Chrome Security told the world that most of the fault and vulnerability of Chrome were discovered by developers and techies outside the Chromium Open Source Project. He later stated the prize money for finding exploits, security holes, vulnerability which starts from $500 and goes up to $1337 (which is highest and homage to the 1337 person finding the best. It spelled leet, which is geeky lingo for elite)
There is a complete list of frequently asked questions for those who are interested on the blog.
This new initiative might gel together the open source community even more when now Google is backing it up so strongly. So word for Microsoft and Apple will be, "Watch Out!"