Hacken Community Launched First Grey Hat Hackers Competition to Fight Cyber Crime

| Updated
by Kseniia Klichova · 3 min read
Hacken Community Launched First Grey Hat Hackers Competition to Fight Cyber Crime
Photo: Hacken

In the wake of the Covid-19 millions of people have been subjected to months inside their homes as governments scramble to control the spread of the virus. This event is unparalleled in modern times and has affected almost every industry imaginable, including cybersecurity.

Cyber Attacks On The Rise

With millions more people online the potential profit for black hat hackers and cybercriminals drastically increases. Last October NORDVPN announced that cyber attacks were up as much as 400% on pre-covid levels. With this new influx of attacks cybersecurity leaders like Hacken.io are having to come up with new and ingenious ways to counter this accelerating trend.

Grey Hat Hackers

Grey Hat hackers are hackers that illegally find vulnerabilities in systems without the owner’s knowledge or permission, but then share the information with the system owners usually requesting a small fee rather than exploiting the weakness.

Grey Hat Hacking Solution

Lead by long term investor, venture capitalist, advisor and ecosystem builder Leo Andreo Hacken is supporting its community initiative to put grey hackers to work in the name of cyber security.

The Hacken Community launched the first of its kind Grey hat Hackers Ideas Competition, which is running from January 19th to 31st, 2020 and there is a total prize pool of 1 Million HAI (roughly 30,000 USDT) to be shared by the winners. The events leader Leo Andreo Hacken will be funding not only half the prize pool personally, but also an additional 5,000 USDT special prize for the most outstanding idea that can be turned to “a white side”.

Dyma Budorin, CEO at Hacken stated:

“We are moving to a new level. I am sure that the idea of creating a cryptocurrency used to be unrealizable. Today, we invite hackers from all over the world to take part in the First Grey Hat Hackers Ideas Competition and we are ready to support the brightest and seemingly unattainable ideas”.

Innovative Ideas For Crypto Prizes

Participants will be expected to decide a unique idea that pertains directly to the cybersecurity industry. To be a serious contender Hacken recommends sending ideas via the form on the website, with a pitch deck and a 3 mins (or less) video pitch of the idea. Idea must not plagiarize existing projects or companies and all entries must be submitted until 11:59 pm Jan 31 (UTC+02:00).

Ideas Judging Stages

Initial valuation of the submitted ideas will be conducted by Mr Andreo, assisted by core team members of Hacken.io from Feb 1st to Feb 3rd. The shortlist of finalists will be presented on Feb 3.

All projects that pass this round will go on to a semi-final stage, conducted over a week (Feb 5-11), in the Fireside Chats held in Hacken Club Official Telegram. Final voting will commence between Feb 12th and 16th to pick the final 3 winners. The winners will be chosen as follows:

  • 1st place – by Mr Leo Andreo and the Hacken core team. Prize – 600,000 HAI
  • 2nd place – by the 4th level members of Hacken. Prize – 300,000 HAI
  • 3rd place  – by Hacken community members. Prize – 100,000 HAI
  • Special prize from Hacken investor Mr. Leo Andreo – 5,000 USDT

A detailed timeline can be found on the website First Grey Hat Hackers Ideas Competition.

Hacken is a cybersecurity firm that leverages blockchain technology to provide online security against malicious parties and hackers. To learn how Hacken is changing the cybersecurity landscape, visit their website.

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Kseniia Klichova

Kseniia is the Chief Content Officer of Coinspeaker, holding this position since 2018. Now she is very passionate about cryptocurrencies and everything connected with it, so she tries to ensure that all the content presented on Coinspeaker reaches the reader in an understandable and attractive way. Kseniia is always open to suggestions and comments, so feel free to contact her for any questions regarding her duties.

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