John McAfee Challenges the Crypto Community to Hack the BitFi Wallet – Offers $100k

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Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

The cryptocurrency expert and bull is offering a prize of $100,000 dollars to anyone who will be able to hack his BitFi cryptocurrency wallet. The information has been released by Mr. McAfee on twitter on July the 27th.

McAfee’s New Bounty

John McAfee is offering a new $100,000 bounty to those who will be able to hack his new hardware wallet.

The tweet written reads as follows:

“The $100,000 bounty to anyone who can hack the wallet is not just for the first person who hacks it, but to everyone who can hack it. If 100 100 people hack it, each one gets $100,000. But I promise you, it cannot be hacked, ever, by anyone or anything. Try it.” explains that they will be depositing coins into the BitFi wallet. Those who want to participate will have to purchase one of these wallets that is preloaded with an additional $50 dollars. Those who are able to extract the coins and empty the wallet will be rewarded with $100,000 dollars.

The company behind BitFi says that they have invented the most sophisticated instrument in the crypto space. The main intention is to help the world adopt virtual currencies. Each of the devices has a price of $120 dollars.

“The Bitfi wallet is only $120 USD. As a computing device it is much more costly to manufacture than ordinary hardware wallets, however, our mission is to make this technology accessible to everyone and to keep it affordably priced as long as possible,” explains Bitfi on its website.

The company explains that their wallets work in a different way, which is much more advanced and secure than traditional hardware wallets. The wallet does not store the private keys, instead it calculates it by using an algorithm every single time the user types the secret phrase.

All currencies and assets will be supported in just one device and under a single secret phrase. At the moment, the most important hardware wallets are Ledger and Trezor, which are players already settled in the market.

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