Solana Foundation Offers $400,000 Bounty to _Turn Off Solana_

The Solana Foundation is offering a reward of $400,000 for anyone who can discover the code that could potentially “turn off Solana.”

This development comes while SOL’s price has dipped by 8.4% in the past week following several mentions in Sam-Bankman Friend’s trial.

Jacob Creech Announces $400,000 Bounty

Jacob Creech, the Head of Developer Relations for the foundation, recently took to X to announce a $400,000 bounty for anyone who can discover the code that could turn Solana off.

Fyi there’s a $400k reward for anyone that can find code that can turn off Solana

Please go ahead and find it

— Jacob Creech (@jacobvcreech) October 12, 2023

This offer is a part of the Solana Foundation’s broader security bug bounty program, which actively encourages white hat hackers to scrutinize the blockchain for vulnerabilities, with ious rewards up for grabs.

Among these bounties is $2 million in locked SOL tokens, set aside for a 12-month lockup period, awaiting those who can uncover vulnerabilities such as theft of funds without user signatures, unauthorized fund transfers, or vote program exploits that drain delegated stakes.

One standout bounty worth $1 million is reserved for those who can expose the Solana network’s consensus violations or safety issues. This includes the recently publicized $400,000 reward, which incentivizes hackers to identify vulnerabilities that could lead to remote attacks capable of partitioning the Solana network.

As a blockchain hailed as an “Ethereum killer,” Solana acknowledges that no network is immune to vulnerabilities and is determined to address these issues proactively.

SOL’s Decline Tied to Bankman-Fried Trial Mentions

Meanwhile, Bankman-Fried’s criminal trial has caused a negative impact on SOL, which is the eighth-largest cryptocurrency. SOL’s performance has been poor recently, with its current price at $21.36, down by 8.4% in the past week, according to CoinGecko data.

This decline may be linked to its frequent mentions in Bankman-Fried’s trial, in which his lawyer, Mark S. Cohen, discussed his interest in this cryptocurrency during the trial.

SOL serves as the currency for transactions on the Solana blockchain, which developers use to create decentralized apps like DeFi lending platforms. Additionally, it was favored by FTX, with its former CEO Bankman-Fried supporting Solana, launching a Solana NFT marketplace, and investing in ious native projects.