The post Charles Hoskinson Announces $1 Million Bug Bounty for Hacking Cardano’s Lace Paper Wallet appeared on BitcoinEthereumNews.com.

Cardano founder Charles Hoskinson has issued a $1 million challenge aimed at fortifying the security of the platform’s Lace Paper Wallet. This initiative aims to engage the ADA community in testing the robustness of this new security feature. Hoskinson made the announcement at the Rare Evo 2024 event, emphasizing the high stakes involved in this security challenge. Cardano founder Charles Hoskinson has issued a $1 million challenge to the ADA community to hack the new Lace Paper Wallet, aiming to bolster the platform’s security measures. Major Security Initiative: The Lace Paper Wallet Challenge At the Rare Evo 2024 event, Charles Hoskinson, founder of Cardano, issued a groundbreaking $1 million challenge to the ADA community. This high-stakes bounty invites participants to hack the newly introduced Lace Paper Wallet, a pivotal feature aimed at enhancing the platform’s security. Hoskinson’s announcement, made public via a clip and a tweet stating, “If you can hack it, you can keep it,” underscores Cardano’s commitment to rigorous security testing. Inauguration of the Lace Paper Wallet The Lace Paper Wallet is a newly unveiled security feature that promises enhanced protection for users. By allowing users with existing PGP keys to restore their wallets using an encrypted QR code, this feature represents a significant advancement in Cardano’s security measures. The introduction of the Lace Paper Wallet underscores the platform’s dedication to providing robust security solutions for its users. The Lace Paper Wallet Bug Bounty Program To further secure the platform, Cardano has launched the Lace Paper Wallet Bug Bounty Program. This ongoing initiative offers a $1 million reward to anyone who can successfully hack the Lace Paper Wallet. The program runs until the end of 2024 or until a successful hack occurs, encouraging continuous security testing and improvement. This initiative not only aims to fortify the Lace Wallet…

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Filed under: News - @ August 18, 2024 10:15 am