Foundation Executive Offers $400,000 Prize for Turning Off Solana Network

Jacob Creech Announces $400,000 Reward for Turning Off Solana

Jacob Creech, the Head of Developer Relations at the Solana Foundation, recently made an enticing proposition via a tweet. He announced a substantial reward of $400,000 for anyone capable of discovering the code that can effectively “turn off Solana”.

This reward is just one among several security bug bounties provided by the Solana Foundation. They are also offering an impressive $1 million prize for disclosing any consensus violations within the Solana network.

Solana Foundation’s Security Bug Bounties Program

As part of the security bug bounties program, the Solana Foundation is actively engaging ethical hackers, often referred to as “white hat hackers”. They have placed various bounties on GitHub for those who can uncover different issues in the Solana blockchain. These bounties include a reward of $2 million in SOL tokens that will be locked for 12 months.

Bounties Details:

• $2 million reward for identifying vulnerabilities leading to theft of funds without the user’s signature from any account.
• $2 million reward for vulnerabilities leading to theft of funds without the user’s interaction in system, token, stake, or vote programs.
• $2 million reward for vulnerabilities leading to theft of funds that require the user’s signature, such as creating a vote program that drains delegated stakes.
• $1 million reward for revealing any consensus or safety violations.
• $400,000 reward specifically for discovering vulnerabilities that could enable remote attacks leading to network partition.

Solana’s Price in a Critical Phase

Currently, the price of Solana is positioned just above a crucial support line at $21.07. This support level coincides with both the 50- and 100-day Exponential Moving Average (EMA), making it significant.

Solana has experienced a 10.26% decline since the start of the month, with its current trading price at $21.43. However, if it fails to maintain this support level, it could lead to a price drop, potentially testing a support level at its lowest point in the past four months, which is $17.34.

On a positive note, there is a possibility of a Solana price rebound, as the cryptocurrency has shown a minor uptick in value. To negate the negative outlook, SOL must establish $24.00 as a firm support level. This level is critical for the altcoin to kickstart a recovery and potentially reach the 2023 high of $27.44.