Hoyos launches hack challenge for biometric crypto wallet

Jul 3, 2018, 10:35 am EDT | Chris Burt

Hoyos Integrity Corporation has announced a Global Hacker Challenge, worth a possible $100 million, though the company’s CEO expects no challenger will claim it. The company says it has deposited $100 million worth of its RISEN (RSN) into one of its secure crypto wallets secured by biometrics and blockchain.

“As we have begun to market our RISEN offering, the reception we have received from global banks, high net worth investors, and government agencies has been overwhelming. Nearly everyone we have spoken with has requested access to our technology to try and punch holes in it,” says Hector Hoyos, Chairman, CEO, and Chief Technology Officer of Hoyos Integrity Corporation. “I believe in putting my money where my mouth is. If you really believe in what you do, then put it to the test in the most open and public way possible, hence we came out with this challenge. If you can hack it, you can keep it, but it won’t happen.”

The wallet uses Hoyos’ proprietary biometric lock system in compliance with IEEE standard 2410. There have been more than 300 unsuccessful attempts to hack the lock so far, according to the company.

HOYOS RISEN, according to the announcement, is a token underpinning a security-focussed platform for private data and voice communications. Solutions running on the platform can be used to tokens, smart contracts, and any type of financial transaction, the company says.

“With our technology, crypto exchanges and consumers can protect all their crypto assets without any need to print and hide their wallet private keys, or even use archaic and insecure methods like cold storage devices or protocols. It’s all digitally and biometrically protected in a decentralized way, as it was meant to be, protecting from both outside and insider threats,” company CEO Hoyos continues, “There are many companies around the world marketing so-called secure smart phones, secure crypto-wallets and pretty much every flavor of security possible. None of them are actually secure. Not even apps like Whatsapp, Telegram or Signal can secure you, because your content (voice, data) is stolen in memory by ram scraper malware before it encrypts. We are the only game on the planet and are proving it with this Challenge.”

Hector Hoyos previously founded Hoyos Labs, which became Veridium in 2016.