$100k prize fund from pCloud’s Crypto Hacking Challenge

Today, cloud storage company pCloud revealed that it is increasing the prize fund of its Crypto Hacking Challenge from $20,000 to $100,000, as an incentive to join the second round of the competition. The service publicly disclosed the content from the encrypted folder users had to break into in Round 1, by providing the general password on its Crypto Challenge page. By doing so, the cloud storage service aims to prove the validity of the Challenge and give equal access to both participants and curious onlookers.

Tunio Zafer, CEO of pCloud, announced that the pCloud Crypto Hacking Challenge will be extended until April 04, 2016 as a result from increasing participant interest. A new encrypted folder with unknown content will be available for the hackers. “The lack of successful attempts to hack the system proves that the company’s Crypto service offers the most reliable protection of information on the market so far”, Mr. Zafer said. pCloud Crypto is a revolutionary way to protect your personal files in pCloud. “Each user of the system will use a personally created password, only known to them, which allows protected access to their uploaded files from any device. Even pCloud administrators can’t see what the encrypted folders contain”.

The pCloud Crypto Hacking Challenge started back in September 2015, in order to prove the quality of the encrypted security system the company offers. More than 2,200 hackers from all parts of the world tried to hack into the encrypted system and get the initial prize of $20 000 with 0 being successful. The majority of attempts were made from the US – 20% followed by India – 11%, Great Britain – 9.5% and Portugal – 6%.

As the Challenge is now in Round 2, the company doesn’t plan on changing the rules. After registering, every participant will get access to a general Challenge account with an encrypted folder. They will have to find what’s inside and send it to the company in a decrypted state along with a detailed explanation of the decryption methodology. The first one to be successful will receive a prize of $100,000 or the equivalent in Bitcoin. Participants from the first round of the Challenge will receive an automatic email, containing new username and password for entering Round 2. Those who want to join it can register onhttp://www.pcloud.com/challenge.

All interested parties can also try pCloud Crypto on their own for a free 14-days trial period by registering and downloading the app from the company’s website.

About Sean Williams 109 Articles
I'm markets editor and journalist for DFN. I've been involved with crypto for over 4 years and am an enthusiastic advocate. At DFN I try and combine my knowledge of markets with my knowledge of crypto to give a good overview of changes in the financial aspects of cryptocurrencies.

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