Cryptocurrency guru John McAfee of computer security software fame is offering $100,000 to anyone who can hack a new wallet.
McAfee boasts the Bitfi wallet is ‘unhackable’.
Bitfi brags the wallet is a fortress for cryptocurrency traders and investors.
“By inventing the most sophisticated instrument in the world, we are constantly pursuing one clear target: universal adoption of the emerging decentralized digital asset economy in everyday life, for
everyone,” says the company.
“Never before has one hardware wallet so seamlessly combined such contradictory attributes as faultless, impenetrable security with incomparable ease of use and all without a trace of compromise. This is the definitive hardware wallet that vaults performance into previously uncharted territory.”
Bounty for breaching security
The company has put up the bounty and probably paid McAfee to spread the news – he has previously confessed he accepts cash to talk up cryptocurrency ventures.
Bitfi says the bountyfor any hacker successfully breaching their security is not to identify vulnerabilities because they believe there are none, but to support their advertising claims the wallet cannot be hacked.
“We strongly believe in the value of a bounty to resolve any possible concerns about the security of the Bitfi wallet. This bounty program is not intended to help Bitfi to identify security vulnerabilities since we already claim that our security is absolute and that the wallet cannot be hacked or penetrated by outside attacks,” says the company.
Dilemma for executives
“Rather this program is intended to demonstrate to anyone who claims or believes that nothing is unhackable or that they can hack into the Bitfi wallet, that such attempts are futile and that the advertised claims about the Bitfi wallet are accurate.”
The dilemma is no one claiming the bounty does not mean the wallet is unhackable, just that no one has reported the fact.
Secondly, the company executives will have red-faces when they must admit their claims are not true if a hacker wins the prize.
“For all you naysayers who claim that “nothing is unhackable” and 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,” McAfee has tweeted.