The world’s first digital asset tracing competition, SCAN 2024, will be held in Seoul on September 5-6. With a total prize of 2 BTC, it boasts one of the largest prize pools compared to many major hacking competitions worldwide.

SCAN 2024 is hosted by D Asset Inc., the publisher of Korea’s leading crypto media outlet, Digital Asset. The event will bring together digital asset tracing experts from around the world, including law enforcement agencies such as the Korean National Police Agency.

The competition is supported by the National Security Research Institute, the Korea Institute of Information Security and Cryptology (the largest academic society in Korea in the fields of information security and cryptology), and the Digital Asset eXchange Association (DAXA). Dunamu, the operating company Upbit which is one of the world’s largest crypto exchanges, is the main sponsor of the event. Bonanza Factory, Korea’s leading digital asset compliance company, and Blockchain Intelligence Group, the developer of the digital asset tracing solution QLUE, are also sponsoring the event.

This event is expected to attract participation from white hat hackers, Web3 security experts, and cybercrime investigators worldwide. Teams of up to four members can compete. The online preliminary round, which will be held for 24 hours on July 30, will determine the top 8 teams to advance to the finals at Hotel Naru in Mapo-gu, Seoul, on September 5.

Additionally, the top team from the Korean National Police Agency and the top team from the countries participating in the GLACY program, supported by INTERPOL, will join as special guests. GLACY is a program initiated by the Council of Europe to enhance the cyber investigation capabilities of countries newly acceding to the Convention on Cybercrime (Budapest Convention).

Participants in both the preliminary and final rounds will solve various challenges designed to assess the knowledge and skills required for digital asset tracing. The competition follows the Capture The Flag (CTF) format, where participants compete to solve problems and capture flags.

The team with the highest score in the finals will receive 1 BTC, the second place will receive 0.5 BTC, and the remaining 0.5 BTC will be distributed among the teams ranked from 3rd to 8th place. Special prizes include a one-year license for Blockchain Intelligence Group’s QLUE and the CCI training modules.

The day after the finals, on September 6, the SCAN 2024 conference will be held, focusing on topics such as digital asset crime response, investor protection, and enhancing market transparency. Detailed programs and speakers for the conference will be announced later.

For more information and to register for the competition, please visit website.

Yoo Shin-jae, co-CEO of D Asset Inc., stated, “With the implementation of the Virtual Asset User Protection Act in Korea on July 19, 2024 is a pivotal year as many countries introduce new digital asset-related laws and regulations. We invite experts from around the world to join SCAN 2024, as it serves as an opportunity to confirm the capabilities of the ecosystem for a secure and transparent digital economy and to build a global network of professionals.”

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