Lol. That is so military public affairs. You are allowed to hack a satellite after being vetted and approved by government. Are Canadians allowed to participate? How about Russians? What about crypto-anarchists who will never pass a military-type background check? I cannot think of a less hacker-friendly competition.
How about this: Just launch the damn satellite. Tell us which rocket it is on (I assume it is a ride share) and give 100k to the first team that manages to broadcast a rickroll.
Bonus round: An extra 100k for any team that leverages the sat to listen in to the spysat network, the one operating on 60 GHz so that it cannot be heard from the ground directly. (Fyi, if you want to meet some men in black, try putting some 60GHz capability on your cubesat. They no like anything that might jam that spectrum.)