Charles Hoskinson Offers $1M Bug Bounty for Lace Wallet Hack

The Cardano founder announced a $1 million bug bounty reward program for those who can find critical bugs with Lace wallet.

 Cardano is a popular Proof-of-Stake (PoS) crypto network, which is mainly known for its non-promotional-focused development strategies under the leadership of Charles Hoskinson. Charles Hoskinson is Cardano founder & the co-founder of Ethereum. 

On 17 Aug 2024,  Hoskinson issued a bold challenge to the crypto community, offering a $1 million bounty to anyone who can successfully hack the Lace Paper Wallet. The announcement was made during the Rare Evo 2024 event and later shared on Hoskinson’s official X account.

The Lace Wallet, developed by Cardano’s parent company, IOHK, is one of the most advanced and secure wallets in the Cardano ecosystem. Hoskinson’s challenge highlights the wallet’s robust security features, emphasising the confidence he has in its design.

Hoskinson stated “If you can hack it, you can keep it”, referring to the substantial bounty. This daring offer aims to further reinforce the security of the Lace Wallet and engage the community in testing its defences.

Cardano (ADA) Price & Chang Hardfork

Cardano (ADA) is currently trading at $0.33, which is 1.5% higher over the last 24 hours. Despite the fact that Cardano is undergoing a significant network update, the trade price of the ADA coin is still struggling.

The network is about to make a big change with the upcoming Chang Hard Fork. This upgrade is 80% complete and will let the community take control of Cardano’s decisions. Once finished, Cardano will be one of the first networks to do this. This could affect ADA’s price in the market.

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