Crypto-crusader and cyber security expert, John McAfee, is offering a $100,000 bounty to anyone who can hack his new hardware wallet known as BitFi. McAfee believes the hardware wallet is unhackable and has put the challenge out there for everyone to prove him wrong. He put forth the challenge via twitter when he said the following:
The $100,000 bounty to anyone who can hack the BitFi.com wallet is not just for the first person who hacks it, but to everyone who can hack it. If 100 people hack it, each one gets $100,000. But I promise you, it cannot be hacked, ever, by anyone or anything. Try it.
The catch is that you’d have to buy the device first so you can attempt to hack it. This is according to the bounty description on Bitfi.com that states the following:
The rules for claiming the bounty are simple:
We deposit coins into a Bitfi wallet
If you wish to participate in the bounty program, you will purchase a Bitfi wallet that is preloaded with coins for just an additional $50 (the reason for the charge is because we need to ensure serious inquiries only)
If you successful extract the coins and empty the wallet, this would be considered a successful hack
You can then keep the coins and Bitfi will make a payment to you of $100,000
McAfee has reiterated this part of the bounty via his most recent tweet below:
More about the BitFi Wallet
The BitFi Wallet claims to offer a rare combination of the most advance security for private and enterprise use. The BitFi wallet is also different from other hardware wallets out there for it does not store a private key at all. On the BitFi wallet, your private key is calculated using their special algorithm every time you type in your secret phrase. The wallet will support all currencies and assets in a single device, under a single secret phrase. The wallet costs $120. More information about the wallet can be found on its user friendly website.