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The Solana Foundation is providing a reward of $400,000 for individuals who can identify the code that may be able to “turn off Solana.”
This announcement comes as SOL’s price has decreased by 8.4% over the last week, following multiple references in Sam Bankman-Fried’s trial.
Jacob Creech Unveils $400,000 Bounty
Jacob Creech, the Head of Developer Relations at the foundation, recently took to X to reveal a $400,000 bounty for anyone who can find the code that could disable Solana.
This initiative is part of the Solana Foundation’s extensive security bug bounty program, which actively invites white hat hackers to examine the blockchain for weaknesses, offering various rewards in return.
Included in these bounties is $2 million in locked SOL tokens, allocated for a 12-month lockup period, awaiting those who can identify vulnerabilities such as fund theft without user signatures, unauthorized fund transfers, or vote program exploits that deplete delegated stakes.
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A notable bounty of $1 million is designated for those who can reveal consensus violations or safety concerns within the Solana network. This encompasses the recently announced $400,000 reward, which encourages hackers to pinpoint vulnerabilities that could enable remote attacks capable of segmenting the Solana network.
As a blockchain recognized as an “Ethereum killer,” Solana acknowledges that no network is free from vulnerabilities and is committed to proactively addressing these challenges.
SOL’s Drop Linked to Bankman-Fried Trial Mentions
In the meantime, Bankman-Fried’s criminal trial has adversely affected SOL, which ranks as the eighth-largest cryptocurrency. SOL has experienced a downturn recently, with its current price at $21.36, reflecting an 8.4% decline over the past week, according to CoinGecko data.
This drop may be associated with its frequent mentions during Bankman-Fried’s trial, where his attorney, Mark S. Cohen, referenced his interest in this cryptocurrency.
SOL functions as the currency for transactions on the Solana blockchain, utilized by developers to build decentralized applications such as DeFi lending platforms. Furthermore, it was favored by FTX, with its former CEO Bankman-Fried backing Solana, launching a Solana NFT marketplace, and investing in various native projects.
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