Many of these platforms feature a live status feed. When a researcher finds a vulnerability in a major company's website, the status updates:
A bank undergoing a regulatory audit uses live hacking status as proof of "continuous assessment." Instead of a single point-in-time test, they show the regulator a 90-day live log of testing activity, demonstrating ongoing vigilance.
In the realm of bug bounty live statuses, the mechanism is API-driven. When a security researcher submits a report through a portal, the event triggers an API call. This updates the database and pushes a notification to the public-facing dashboard. This status gives clients (companies paying for the testing) immediate feedback on the ROI of their security spending.