Tackle Cybersecurity Issues with the First Grey Hat Idea Competition

By Guest Author
Published January 22, 2021 Updated January 22, 2021
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Tackle Cybersecurity Issues with the First Grey Hat Idea Competition

By Guest Author
Published January 22, 2021 Updated January 22, 2021

With cyber-attacks occurring with more frequency than ever before, a new approach is required. Hacken Community (led by early investor Leo Andreo) will organize the First Grey Hat Hackers Idea Competition, a hackathon with a $35,000 equivalent prize pool.(At the time of writing)

Cybersecurity Remains a Crucial Problem

As more people and devices are connecting to the internet, security concerns have become more outspoken. Far too few consumers and corporations take IT security seriously, resulting in hundreds of millions of cyber-attacks every year. The Arkose Labs Q2 2020 Fraud & Abuse Report confirmed 445 million cyber-attacks in the first half of 2020 alone. 

Judging by the types of cybersecurity incidents in 2020, there are many different aspects to tackle. Putting an end to the growing number of data breaches, ransomware attacks, and incidents such as “Zoombombing” will require an out-of-the-box solution. 

Cybercriminals will often step up their game in response to new countermeasures developed by white hat hackers. Grey Hackers are a great resource as they do not use their hacking skills for malicious purposes and can offer valuable insight on how to fix systems with weaknesses and help develop stronger protection. 

First Grey Hat Hackers Idea Competition

Changing the narrative surrounding cybersecurity requires community input. With its model of promoting online security, Hacken Cybersecurity Services acknowledges the time has come to leverage the wisdom of the crowd. More specifically, their upcoming hackathon – dubbed First Grey Hat Hackers Idea Competition – is currently underway. 

Mr Leo Andreo

Mr Leo Andreo leads the Hacken community in organizing the First Great Hat Hackers Ideas Competition. Mr Andreo is a seasoned venture capitalist, advisor, and startup ecosystem builder who has chosen to remain anonymous. Despite this, he has been one of the earliest investors and biggest supporters of hacken since 2017. Recently he had decided to be proactively use his skills to benefit Hacken by boosting its ecosystem

Participants are competing for a vast prize pool valued at roughly $35,000, funded by the community and Mr. Andreo in equal portions:

  • 1st prize of 600,000 HAI, decided by the Hacken team and Mr. Andreo.
  • 2nd prize of 300,000 HAI, voted on by the 4th level Hacken members.
  • 3rd prize of 100,000 HAI that will be decided by the Hacken open community.
  • Special prize of 5,000 USDT for a team with an amazing idea, from Mr. Andreo himself.

Submit Your Ideas Today

Any team or group of developers looking to throw their grey hat into the ring can submit ideas via the Hacken Competition Form. It is advisable to offer a good pitch deck and a small video explaining the concept in detail. 

Grey hat hackers worldwide can submit their cybersecurity-related ideas until the end of January 2021. The submitted concepts will undergo a thorough evaluation in the days after, and semi-finalists will enter the next round on February 5th. The projects will participate in the Fireside Chats held in the Hacken Club Official Telegram. By February 17th, three winners will be announced. 

Hacken CEO Dyma Budorin stated:

“Today, we invite hackers from all over the world to take part in the First Grey Hat Hackers Ideas Competition and we are ready to support the brightest and seemingly unattainable ideas”

All views are validated by the core Hacken team and Leo Andreo, a seasoned VC and investor. Mr. Andreo is a proponent of using blockchain technology for online security systems. 

Hacken is a cybersecurity firm that leverages blockchain technology to provide online security against malicious parties and hackers. To learn how Hacken is changing the cybersecurity landscape, visit their website.


The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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