John McAfee Offers $100K to Anyone That can Hack BitFi
John McAfee, cryptocurrency enthusiast and head of McAfee Labs, has announced a new offer of $100K to any participant that can break into his newly designed hardware wallet. BitFi, the hardware wallet is allegedly hack-proof and has given everyone a chance to prove otherwise. Announcing it on Twitter, he said that the reward would go not only to the first successful hack of the wallet but every following one.
In his announcement online, McAfee promised $100K to every successful hacking of the wallet but went on to insist that his wallet was unhackable by any means, be it man or machine. He urged every participant to give it a try, although buying the hard-wallet in the first place is a requirement.
Claiming the reward does have certain conditions as highlighted by the company. As the process goes, cryptocurrencies are first deposited into the Bitfi Wallet. To take part in the bounty attempt, buying the wallet is required and each one is pre-loaded with cryptocurrencies for an added $50.
Upon successfully hacking into the new wallet and withdrawing all the funds, all withdrawn coins can be kept and the $100K award will be granted. Its creator has stressed on the fact that many say his wallet can be hacked. As a response, he says if such confidence exists that it can be hacked, then “do it.” The reward is granted on every hack although he does state that no one can and will break in and every individual will eventually forfeit.
BitFi has been said to possess the most cutting-edge and robust cyber security system in the world. The wallet is available individually and for corporations. Another unique trait is that the wallet doesn’t house any private keys or addresses whatsoever. Every time a user enters his or her password, the company’s specially implemented algorithm. Additionally, any cryptocurrencies are backed by the wallet, placing all passwords and assets on one device.