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Re:$300k for Cracking Telegram Encryption by tptacek on Tuesday November 04, 2014 @12:37PM (#8557828)
It guaranteed payment. It didn't try to prove a negative. It started from the presumption that there would be solid critiques.
Re:$300k for Cracking Telegram Encryption by raverbashing on Tuesday November 04, 2014 @12:58PM (#8557959)
How many comments were received/payed?

There's an undated article https://www.schneier.com/twofish-contest.html pointing to a dead link

Re:$300k for Cracking Telegram Encryption by pbsd on Wednesday November 05, 2014 @02:01AM (#8560798)
In the context of a crypto competition that sort of bounty is a way to try to get more attention to your design, therefore making your candidate more likely to be selected. Many designs are rejected due to lack of analysis at the time of the selection process. It's better to pick a well-analyzed primitive than a not-so-well analyzed one that looks more solid but is more of a gamble.