Jacob Creech, the Head of Developer Relations at Solana Foundation, took to Twitter to announce a $400,000 reward for those who can uncover the code capable of “disabling the Solana network.” This enticing reward is just one of many security bug bounties made available by the Foundation, including a substantial $1 million bounty for the disclosure of consensus violations.
The current Solana price is undergoing a crucial test of its support level. A failure to maintain this support could potentially drive SOL to its lowest point in four months. Despite being hailed as an Ethereum competitor, Solana, like all blockchain networks in the crypto realm, faces its fair share of challenges. In a proactive move, Solana aims to stay ahead of potential threats by extending a highly profitable offer to ethical hackers.
The Solana Foundation is prepared to compensate for potential network vulnerabilities.
Solana Foundation’s Head of Developer Relations, Jacob Reech, utilized the platform X (formerly Twitter) to convey an important message. In his tweet, Reech revealed a substantial $400,000 reward for those capable of discovering the code that can deactivate the Solana network. Furthermore, he urged individuals to actively seek out this code.
Nevertheless, it’s crucial to clarify that this isn’t an act of betrayal; rather, it’s a part of the security bug bounties that the Solana Foundation extends to ethical hackers. The Foundation has published a range of similar bounties on GitHub, available to those who can identify diverse issues within the blockchain. These encompass a rewarding $2 million in locked SOL tokens (locked for 12 months) for white hat hackers who can uncover vulnerabilities that could lead to:
- Unauthorized fund withdrawal from any account without the user’s signature.
- Unauthorized fund withdrawal without any user interaction in system, token, stake, or vote programs.
- Unauthorized fund withdrawal requiring users’ signatures, such as creating a vote program that drains delegated stakes.
In addition to these incentives, there’s another $1 million bounty offered to individuals who can detect any consensus or safety violations. Among these enticing bounties is the $400,000 one that Jacob Reech mentioned in his tweet, aimed at identifying vulnerabilities that could potentially enable remote attacks capable of partitioning the network.
The Solana price is currently at a pivotal level.
As of the present moment, the Solana price is teetering just above the crucial support level set at $21.07, which coincides with both the 50- and 100-day Exponential Moving Averages (EMA). With a 10.26% decline since the start of the month, the altcoin is currently trading at $21.43. Should this support level fail to hold, there’s a potential for SOL to test a support level at a four-month low of $17.34.
Nonetheless, there’s a possibility of a rebound in the Solana price as the cryptocurrency currently shows a modest uptick. However, to negate the bearish outlook, SOL must successfully establish $24.00 as a pivotal support level. This is essential for the altcoin to kickstart a recovery rally towards its 2023 peak of $27.44.