Google sponsoring contest to strengthen Chrome against identity theft hacks

Google is sponsoring a $20,000 hacking contest for the purpose of testing the defenses of Chrome, its internet browser, against identity theft hackers.  This year's hacking contest is called "Pwn2own".  The first researcher who is able to exploit Chrome will receive a prize of $20,000.

Pwn2own participants will also attempt to exploit Windows 7 or the Mac OS X, as well as web browsers Internet Explorer, Firefox and Safari.  The first Pwn2own participant who is able to hack Internet Explorer, Firefox, and Safari will receive a prize of $15,000.

The purpose of Pwn2own is for Google to learn any weakness in Chrome's defenses before it can be  victimized by hackers and other individuals involved in identity theft crimes, which could cost Google millions.
The benefit of Pwn2own is that it gives Google the opportunity to identify Chrome’s weaknesses in dealing with hackers and indent theft offenders now rather than later.