In 1981, Erdős and Simonovits conjectured that for any bipartite graph $H$ we have $\mathrm{ex}(n,H)=O(n^{3/2})$ if and only if $H$ is $2$-degenerate. Later, Erdős offered 250 dollars for a proof and 500 dollars for a counterexample. In this paper, we disprove the conjecture by finding, for any $\varepsilon>0$, a $3$-regular bipartite graph $H$ with $\mathrm{ex}(n,H)=O(n^{4/3+\varepsilon})$.
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