Zengo Wallet Challenges Hackers with $430K BTC On-Chain Bounty

Zengo Wallet, the developer of a secure wallet without seed phrase vulnerability, is offering an on-chain bounty of 10 BTC (approx. $430,000) to hackers who can crack its security. The unique bounty spans 15 days, starting on Jan. 9, and involves revealing the wallet address and security factors progressively. Zengo relies on multi-party computation (MPC) for transaction signing, enhancing its security features.

Zengo Wallet is shaking up the bug bounty scene by placing 10 Bitcoin (BTC) worth over $430,000 in a developer-controlled account, daring hackers to drain it. The on-chain bounty, lasting 15 days from Jan. 9 to Jan. 24, involves revealing the wallet address and security factors in stages. If a hacker cracks the wallet by 4 pm UTC on Jan. 24, they get to keep the 10 BTC.

Unlike traditional wallets, Zengo claims to eliminate seed phrase vulnerability. Users don’t need to record seed words, and there’s no key vault file stored. Instead, the wallet employs multi-party computation (MPC), creating two secret shares – one on the user’s mobile device and the other on the MPC network.

This innovative approach adds layers to Zengo’s security, challenging hackers to test its resilience. With 10 BTC up for grabs, the bounty aims to highlight Zengo’s commitment to robust security measures.

Disclaimer: The information provided in this article is for educational and informational purposes only. It should not be considered financial advice from Cryptozi or any other entity. We want to emphasize that if readers use the content or services mentioned in this article, Cryptozi is not responsible for any resulting losses. Therefore, it is strongly advised to exercise caution and consult with financial professionals before making any financial decisions that could impact your financial situation.

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