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The First Grey Hat Hackers Hackathon Gets Hacked, Hacker Presents DeFi Solution to Curb Money Laundering on DEXs

Hacken, a prominent cybersecurity, blockchain and cryptocurrency community is organizing the First Gray Hat Hackers Conception Opponents the set up hackers and pc enthusiasts can submit their tips to detect and counter vulnerabilities in crypto and DeFi initiatives. The hackathon provides Gray Hat hackers a possibility to place into effect their tips with the reinforce of the Hacken community as legitimate White Hat hackers.

Starting Jan 19, 2021, Hacken community began accepting submissions of tips for the hackathon on its web location. As applications progressively began pouring in, somebody found an innovative manner to submit their utility, which engrossing hacking into the accumulate location and posting a message containing details about their idea for the hackathon.

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

The message left by the hackers on the accumulate location said that the placement has been hacked, and they idea that by hacking into the accumulate location to submit their idea, they stood a greater likelihood of winning the competition. These innovative candidates idea to private a venture that uses Artificial Intelligence and Machine Learning to stable DeFi initiatives built on Ethereum and Polkadot. As a phase of this venture, they intend to create a world on-chain database of wallets retaining illicit funds in announce that the DeFi solutions can fight money laundering.

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Following the hack, Hacken’s team worked along with its community to restore bag admission to to the accumulate location. Within the period in-between, Hacken’s CEO Dyma Budorin acknowledged the inviting utility submitted by the hackers asserting:

Now we private helped our community restore the work of the placement. That has now not been a conventional hacking. The hackers private determined to most fresh themselves and put together for participation in the hackathon in this form of manner. Now we private contacted them to elaborate the venture’s particulars. Though we develop now not reinforce hackings, the venture in ask devotes attention. We counsel that the venture has the aptitude to private an impression on the additional trend of the DeFi market.”

Hacken moreover confirmed that every applications obtained till the incident are intact, and they’ll be reviewed as per the usual diagram. Functions for the First Gray Hat Hackers Tips Opponents will be open till Jan 31, adopted by the announcement of shortlisted tips on Feb 3, 2021.

The winning team will accumulate a reward of 600,000 HAI, while the second and third space will bag 300,000 HAI and 100,000 HAI, respectively. A special prize of 5000 USDT is moreover in the offering. Participate in the Gray Hat Hackers Conception Opponents at – https://ihktn.com/

Image by Ryan McGuire from Pixabay

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