John McAfee has shown an incredible amount of trust in the new wallet that the firm has created. Not only that, but he called it unhackable, and has personally offered an astounding $100,000 to an individual who can prove that they can break the wallet’s security.
John McAfee Taunts Hackers
After recently joining the Bitfi team, John McAfee has decided that making a statement about how unhackable his new wallet is might be the best thing to do now. Not only did he said that the wallet cannot be hacked, but has also offered $100,000 to a person who can prove that they can do it.
McAfee released this statement on Twitter and has invited everyone who thinks that nothing is unhackable to give it their best shot. Whoever manages to hack the wallet will get $100,000 from him personally.
For all you naysayers who claim that “nothing is unhackable” & who don’t believe that my Bitfi wallet is truly the world’s first unhackable device, a $100,000 bounty goes to anyone who can hack it. Money talks, bullshit walks. Details on https://t.co/ATFaxwUzQC
— John McAfee (@officialmcafee) July 24, 2018
Soon after McAfee kickstarted the bounty hunt, Bitfi jumped in with some of the rules that would ensure that the effort is fair and properly organized. As part of their statement, they said that the value of a bounty should remain as much since the team wishes to eliminate any potential flaw in the Bitfi wallet’s defenses.
Even so, the bounty program that John McAfee started is not intended to help with detecting the vulnerabilities. After all, McAfee claims that the security is already obsolete and that there is no possibility for the wallet hack. Instead, the Bitfi team wishes to demonstrate that there is such a thing as an unhackable thing online and that this wallet is that thing.
Special Wallet for the Would-be Hackers
One of the rules states that those who wish to claim the bounty will not be able to do it via Bitfi device that they have bought on their own. Instead, those wishing to try and hack the wallet need to buy a special device that the team has prepared and pre-loaded with coins in the worth of an extra $50.
Whoever manages to empty the devices’ wallets will be declared the winner of the bounty, and will get to keep the wallet, as well as the $50 worth of coins inside, in addition to the $100,000 reward from John McAfee himself.
At this point, it would probably be safe to assume that these devices will be initiated, with the seed being invisible to the hackers who are purchasing the device. That way, Bitfi team would be capable of checking in on the device, and detecting whether or not someone has actually managed to empty the wallet.
Still, even with all the security, hype, and this super-promotion, this is not the only hardware wallet that has yet to suffer a breach. Wallets like Ledger and Trezor have also managed to resist the skills of capable hackers for years now, and not a single one of their units has had a confirmed breach so far.