And Who Says Crime Doesn’t Pay?
John Mcafee of Mcafee Security is offering up a hefty $100k prize to anyone able to hack their way into his wallet – his digital wallet, that is.
The self-proclaimed “visionary” of Crypto-currency set up the offer via Twitter just a few days ago.
As far as we can see, this “offer” is three things: A direct challenge to the entire internet (Which usually translates to “a massive mistake), a quick and easy way to lose $100,000, and a promotional effort made after Mcafee’s recent partnership with crytocurrency security company Bitfi. Bitfi and Mcafee have partnered up to create the world’s first “truly unhackable” bitcoin wallet, according to an article on Cointrust. The wallet technology, dubbed the “Knox”, is the product of one month’s collaboration between the two security companies.
“So, if I want to participate, all I need to do is boot up my computer and start hacking away, right?” Not exactly. In reality, it appears as if John Mcafee more than expects himself to lose this bet, so he’s made the gates for application force users to put money into Bitfi in the first place.
According to Cointrust, entry requires uses to purchase a Bitfi wallet and input at least $50 worth of digital currency. Only then will you be granted your golden ticket, and only then do you officially qualify.
Of course, you’re not giving up the $50. You’re still free to take the coin out of the Bitfi wallet after you’ve emerged victorious, if you find the hack to be easier than expected and don’t think your coin is safe inside the digital product.
From here on out, only time will tell how long it will take for a horde of dedicated redditors to create a whole community dedicated to busting this case wide open. We’re betting the money will be gone within two or three days, and Mcafee will be stuck eating his words, but also patching up the hole that allowed the hacker entry into the wallet.
And because a hacker’s victory will only result in Mcafee and Bitfi’s security systems growing stronger and stronger, this entire “bet” is a win-win for the company: In the unlikely case the hack proves impossible, Mcafee and Bitfi pocket cash from a bunch of new Bitfi users and can now tout their device as “unhackable” with no one to prove them wrong. If the code is broken, they’ll still gain a large amount of users, and will then be able to make their product better in the future.
The only way anyone could hope to “win” this event more than Mcafee and Bitfi would be for them to nab a sweet $100,000 all for themselves.
So, what are you waiting for? Get to hacking! That prize ain’t gonna wait around.