The First Gray Hat Hackers Hackathon Will get Hacked, Hacker Presents DeFi Answer to Curb Cash Laundering on DEXs

Hacken, a distinguished cybersecurity, blockchain and cryptocurrency neighborhood is organizing the First Gray Hat Hackers Thought Competitors the place hackers and pc fanatics can submit their concepts to detect and counter vulnerabilities in crypto and DeFi tasks. The hackathon gives Gray Hat hackers a possibility to implement their concepts with the help of the Hacken neighborhood as authentic White Hat hackers.

Beginning Jan 19, 2021, Hacken neighborhood began accepting submissions of concepts for the hackathon on its web site. As functions regularly began pouring in, somebody discovered an revolutionary strategy to submit their software, which concerned hacking into the web site and posting a message containing details about their thought for the hackathon.

Message (above) left by hackers on the First Gray Hat Hackers Hackathon web site

The message left by the hackers on the web site mentioned that the location has been hacked, they usually thought that by hacking into the web site to submit their thought, they stood a greater probability of successful the competition. These revolutionary candidates plan to develop a venture that makes use of Synthetic Intelligence and Machine Studying to safe DeFi tasks constructed on Ethereum and Polkadot. As part of this venture, they intend to create a worldwide on-chain database of wallets holding illicit funds in order that the DeFi options can fight cash laundering.

Following the hack, Hacken’s group labored together with its neighborhood to revive entry to the web site. In the meantime, Hacken’s CEO Dyma Budorin acknowledged the distinctive software submitted by the hackers saying:

“We’ve got helped our neighborhood restore the work of the location. That has not been a typical hacking. The hackers have determined to current themselves and apply for participation within the hackathon in such a method. We’ve got contacted them to make clear the venture’s particulars. Though we don’t help hackings, the venture in query devotes consideration. We recommend that the venture has the potential to have an effect on the additional growth of the DeFi market.”

Hacken additionally confirmed that every one functions obtained until the incident are intact, and they are going to be reviewed as per the usual process. Purposes for the First Gray Hat Hackers Concepts Competitors will likely be open until Jan 31, adopted by the announcement of shortlisted concepts on Feb 3, 2021.

 

The successful group will obtain a reward of 600,000 HAI, whereas the second and third place will get 300,000 HAI and 100,000 HAI, respectively. A particular prize of 5000 USDT can also be within the providing. Take part within the Gray Hat Hackers Thought Competitors at – https://ihktn.com/

 

Picture by Ryan McGuire from Pixabay