The First Grey Hat Hackers Hackathon Gets Hacked, Hacker Provides DeFi Service to Suppress Cash Laundering on DEXs

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The First Grey Hat Hackers Hackathon Gets Hacked, Hacker Provides DeFi Service to Suppress Cash Laundering on DEXs

Hacken, a popular cybersecurity, blockchain and cryptocurrency neighborhood is arranging the First Grey Hat Hackers Idea Competition where hackers and computer system lovers can send their concepts to discover and counter vulnerabilities in crypto and DeFi jobs. The hackathon uses Grey Hat hackers a chance to execute their concepts with the assistance of the Hacken neighborhood as genuine White Hat hackers.

Beginning Jan 19, 2021, Hacken neighborhood began accepting submissions of concepts for the hackathonon its website As applications slowly began gathering, somebody discovered an ingenious method to send their application, which included hacking into the site and publishing a message including info about their concept for the hackathon.

hacken
Message (above) left by hackers on the First Grey Hat Hackers Hackathon site

The message left by the hackers on the site stated that the website has actually been hacked, and they believed that by hacking into the site to send their concept, they stood a much better opportunity of winning the contest. These ingenious candidates prepare to establish a job that utilizes Expert system and Artificial intelligence to protect DeFi jobs constructed on Ethereum and Polkadot. As a part of this job, they plan to develop a worldwide on-chain database of wallets holding illegal funds so that the DeFi services can fight cash laundering.

Following the hack, Hacken’s group worked in addition to its neighborhood to bring back access to the site. On the other hand, Hacken’s CEO Dyma Budorin acknowledged the distinct application sent by the hackers stating:

We have actually assisted our neighborhood bring back the work of the website. That has actually not been a normal hacking. The hackers have actually chosen to provide themselves and get involvement in the hackathon in such a method. We have actually called them to clarify the job’s information. Although we do not support hackings, the job in concern dedicates attention. We recommend that the job has the prospective to have an influence on the more advancement of the DeFi market.”

Hacken likewise verified that all applications got till the event are undamaged, and they will be evaluated based on the guideline. Applications for the First Grey Hat Hackers Concepts Competitors will be open till Jan 31, followed by the statement of shortlisted concepts on Feb 3, 2021.

The winning group will get a benefit of 600,000 HAI, while the 2nd and 3rd position will get 300,000 HAI and 100,000 HAI, respectively. An unique reward of 5000 USDT is likewise in the offering. Take part in the Grey Hat Hackers Concept Competitors at– https://ihktn.com/

 Image by Ryan McGuire from Pixabay

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