Bancor launches its cryptocurrency wallet with a unique bug-catching challenge – a hackathon with thousands in prizes for those programmers who find bugs along the way.

It is certainly a cyber-security aware way to launch your cryptocurrency wallet. Challenge hackers to find the bugs as they sign up. But that is exactly what Bancor is doing. And the rewards are worth your time!

The Hackathon

Here is the challenge. In preparation for the upcoming Bancor Wallet launch, the company is challenging users to find bugs and mistakes in its wallet security.

The company is challenging the community at large to hack a Bancor account in the demo environment set up for the purpose during a time-limited digital hackathon.

There are also a large amount of HACKME tokens hidden along with BNT bounties for bugs.

There are two hacking options available during the Hackathon.

1. Hack the community. This means to create new tokens, delete existing tokens and the like. Do the things you are not supposed to do normally, in other words.

2. Steal the Keystore (like the wallet recovery file) of the Admin of the community or any other user.

To noodle around and begin hacking, start at the HACK ME Admin link, but you can also try to hack the wallet of any other user in the test environment.

To claim your bounties for either or both, submit a bug report here.

Because of popular demand, Bancor has extended the HACK ME challenge until mid-February, so act while you can!

What is Bancor?

Bancor has already launched a live product which allows anyone to buy, sell or convert tokens in the Bancor Network. The prices for the coin are calculated by an open-source but proprietary protocol.

The team is introducing new features to help consumer adoption while adding new partners to streamline the mainstream integration of their tokens.

The Bancor Network Token (BNT) launched on June 12, 2017 with one of the largest crowd sale campaigns in the history of the blockchain industry. $153 million was contributed from 10,885 participants in just three hours.