Zero Days, Thousands of Nights The Life and Times of Zero-Day Vulnerabilities and Their Exploits

Zero-day vulnerabilities—software vulnerabilities for which no patch or fix has been publicly released—and their exploits are useful in cyber operations, as well as in defensive and academic settings. This report provides findings from real-world zero-day vulnerability and exploit data that can inform ongoing policy debates regarding stockpiling (i.e., keeping zero-day vulnerabilities private) versus disclosing them to the public.