1Password has paid out $103,000 to Bugcrowd researchers since 2017.
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This raises the company's valuation to $6.8 billion.
LastPass said the separation will allow it to make changes to the platform that will roll out next year.
LastPass VP Gabor Angyal said some of the security alerts that initially caused concern were "likely triggered in error."
Users will be able to sync the information they store in Brex's vault with their 1Password account.