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Zengo Hosts Hacking Challenge With $420K Bitcoin Prize

Zengo, a keyless crypto wallet maker, is holding a hacking challenge called the “#ZengoWalletChallenge” from January 9 to 24.

The Prize

Zengo has placed 10 BTC (around $420,000 currently) and a Pudgy Penguin NFT worth around $25,000 into a regular Zengo wallet as the prize. Hackers must crack the wallet’s security to claim the funds.

Security Factors

Zengo will reveal two of the three recovery factors needed to access the wallet over the course of the challenge:

– Day 1: 1 BTC added and bitcoin/ethereum addresses provided.

– Day 6: 4 BTC added and the first security factor hint revealed.
– Day 13: Additional 5 BTC added and second hint revealed.

Zengo claims to be more secure than hardware wallets due to their 2-of-2 Multi-Party Computation framework. Without both secret shares, hackers cannot access funds.

Weekly Rewards

Participants can win weekly awards by sharing content about their hacking attempts. First place receives $750 in BTC, second receives $200, and third receives $50. Prizes are sent to winners’ Zengo Wallets.

Relevant content includes a 5-15 minute YouTube video or long-form post describing hacking attempts or discussing Zengo’s security.
See official challenge details.

With hackers continually probing companies’ security, challenges like this can help identify vulnerabilities before they are exploited in the real world.

Let the #ZengoWalletChallenge begin!


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