{"id":9627,"date":"2024-01-08T11:21:37","date_gmt":"2024-01-08T09:21:37","guid":{"rendered":"https:\/\/forklog.com\/en\/zengo-wallet-challenges-hackers-with-10-btc-bounty\/"},"modified":"2024-01-08T11:21:37","modified_gmt":"2024-01-08T09:21:37","slug":"zengo-wallet-challenges-hackers-with-10-btc-bounty","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/zengo-wallet-challenges-hackers-with-10-btc-bounty\/","title":{"rendered":"Zengo Wallet Challenges Hackers with 10 BTC Bounty"},"content":{"rendered":"<p>The developers of Zengo Wallet have launched a challenge inviting hackers to breach a cryptocurrency wallet containing 10 BTC (approximately $440,000 at the time of writing).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">? Announcing the <a href=\"https:\/\/twitter.com\/hashtag\/ZengoWalletChallenge?src=hash&#038;ref_src=twsrc%5Etfw\">#ZengoWalletChallenge<\/a>:<\/p>\n<p>Hack Zengo, win 10 <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> ($420,000+ USD)<\/p>\n<p>This is the largest on-chain bounty ever by a self-custodial <a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#crypto<\/a> wallet!<\/p>\n<p>15 Days. Begins January 9th. Up to $750 in <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&#038;ref_src=twsrc%5Etfw\">#BTC<\/a> awards for trying.<\/p>\n<p>Come &#038; get it.<\/p>\n<p>Details (1\/5) \u2b07\ufe0f <a href=\"https:\/\/t.co\/UK91bGn5YR\">pic.twitter.com\/UK91bGn5YR<\/a><\/p>\n<p>\u2014 Zengo Wallet (@ZenGo) <a href=\"https:\/\/twitter.com\/ZenGo\/status\/1744000321360179678?ref_src=twsrc%5Etfw\">January 7, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The contest will run for 15 days starting January 9, when the target account address will be revealed. Initially, the wallet will contain 1 BTC.<\/p>\n<p>On January 14, Zengo will add 4 BTC (approximately $176,000) and disclose one of the &#8220;security factors&#8221; used for protection.<\/p>\n<p>On January 21, the team will increase the prize pool by an additional 5 BTC (approximately $220,000). On the same day, a second &#8220;security factor&#8221; will be revealed. The wallet employs three levels of security in total.<\/p>\n<p>Hackers will have until January 24 at 18:00 Kyiv time (19:00 MSK) to breach the address. The successful hacker will be allowed to keep the funds.<\/p>\n<p>Zengo claims that their wallet &#8220;does not have a seed phrase vulnerability&#8221; and does not store key storage files. Users are not required to copy seed words during address creation.<\/p>\n<p>According to the <a href=\"https:\/\/cointelegraph.com\/news\/multi-party-computation-could-offer-increased-protection-for-crypto-wallets\">website<\/a>, Zengo Wallet uses multi-party computation (MPC) technology for transaction signing. Instead of generating a private key, the wallet creates two separate &#8220;secret folders.&#8221; The first is stored on the user&#8217;s mobile device, the second in the MPC.<\/p>\n<p>As an additional layer of protection, the wallet uses three-factor authentication.<\/p>\n<p>In March 2023, Verichains experts reported a new vulnerability in wallets using the MPC protocol. According to their findings, a critical flaw exists in the <a href=\"https:\/\/hub.forklog.com\/vvedenie-v-porogovuyu-podpis-tss-i-drugie-kriptograficheskie-primitivy\/\">threshold signature<\/a> scheme, potentially allowing attackers to obtain the private key.<\/p>\n<p>In November 2023, it was revealed that &#8220;Ethereum wallet drainers&#8221; had stolen $60 million in digital assets over six months.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The developers of Zengo Wallet have launched a challenge inviting hackers to breach a cryptocurrency wallet containing 10 BTC (approximately $440,000 at the time of writing). ? Announcing the #ZengoWalletChallenge: Hack Zengo, win 10 #Bitcoin ($420,000+ USD) This is the largest on-chain bounty ever by a self-custodial #crypto wallet! 15 Days. Begins January 9th. Up [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9626,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1196,57,1195,1194],"class_list":["post-9627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-competitions","tag-wallets","tag-white-hat-hackers","tag-zengo"],"aioseo_notices":[],"amp_enabled":true,"views":"62","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/9627","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=9627"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/9627\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/9626"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=9627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=9627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=9627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}