Hoskinson puts out a million-dollar reward

Cardano founder Hoskinson calls for a hacking contest. Whoever can crack IOHK's cryptowallet will receive one million dollars.

How do you prove to the world that your encryption method is secure? By challenging hackers and using a high reward as a lure. In a video placed on X, challenges Cardano-founder Charles Hoskinson hackers out: whoever manages to crack the Paper Wallet can count on a million dollars. At issue is the Lace Paper Wallet, developed by the Cardano company IOHK. According to Hoskinson, it is the "most secure Paper Wallet ever developed in the history of our industry."

The wallet has two QR codes, one for the public key and one for the private key. The private key is also encrypted using a PGP (Pretty Good Privacy) method. The Bug Bounty program rewards whoever manages to crack the wallet and obtain the NFT stored in it. A PDF file of the wallet can be here be downloaded.

The first person to return the NFT will receive the reward of one million dollars, paid out in the stablecoin USDM. The challenge runs until the end of this year.