Challenge for Open-Minded: First Grey Hat Hackers Ideas Competition

High-profile event in 2021: Hacken will support the community’s initiative led by its long term investor Leo Andreo who is taking a lead role in organizing the Grey Hat Hackers Ideas Competition. The ideas can be submitted from Jan 19  to Jan  31.  The prize pool will be 1,000,000 HAI  (≈ 30,000 USD ) and 5,000 USDT (special prize from Mr Leo Andreo).

Mr Leo Andreo leads the Hacken community in organizing the First Grey Hat Hackers Ideas Competition. Mr Andreo is a seasoned venture capitalist, advisor, and startup ecosystem builder who has decided to remain anonymous. Despite his willingness to stay anonymous, he has been one of the earliest investors and biggest supporters of Hacken since September 2017. Recently, he has decided to become proactive and apply his skills to benefit Hacken by boosting its ecosystem.   

The leading cybersecurity company Hacken will support the community’s initiative First Grey Hat Hackers Ideas Competition by providing 50% of the prize pool and applying its expertise at the ideas’ valuation stage. The second half of the prize pool will be provided by Mr Andreo. The total prize pool of 1,000,000 HAI (≈ 30,000 USD) will be distributed among the three winners. Special prize from Mr Leo Andreo 5,000 USDT will be awarded for the most outstanding idea that can be turned to “a white side”.

Dyma Budorin, CEO at Hacken commented: “Satoshi Nakamoto went against the system in his time. He was both a pioneer and a madman. Now, bitcoin and cryptocurrencies are taking the leading positions and are gradually changing the financial system. We are moving to a new level. I am sure that the idea of creating a cryptocurrency used to be unrealizable. 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”.

Valuation of the submitted ideas will be carried out by Mr Andreo and the Hacken core team from Feb 1 till Feb 3. The shortlist of finalists will be presented on Feb 3.

How will we select the winners? 

All projects that reach the semi-finals will participate, within a week (Feb 5-11), in the Fireside Chats held in Hacken Club Official Telegram. During Feb 12-16, there will be the voting to identify the winners.

A total of three winners will be selected and each place will be determined separately. The winners will be chosen as follows:

• 1st place – by Mr Leo Andreo and the Hacken core team. Prize – 600,000 HAI 
• 2nd place – by the 4th level members of Hacken. Prize – 300,000 HAI  
• 3rd place  – by Hacken community members. Prize – 100,000 HAI  
• Special prize from Hacken investor Mr. Leo Andreo – 5,000 USDT 

Detailed timeline can be found on the website First Grey Hat Hackers Ideas Competition. 

How to participate in the First Grey Hat Hackers Ideas Competition?  

If you want to be a part of something unique, please send your idea via the form on the website. Please note that organizers highly advise to attach pitch deck and up to 3 minutes video pitch of your idea.  

What else needs to be considered?

• It should be a unique idea, do not copy ideas from existing projects or companies.
• The idea of a product or service should be related to cybersecurity. 
• Ideas have to be submitted until 11:59 pm Jan 31 (UTC+02:00). 

Submit your product or service idea and get the attention you deserve by winning the competition! Who knows, maybe your project will become the next great sensation!