Business 26 July 2018

Cecille de Jesus

Hack me if you can: McAfee issues $100,000 dare to anyone who can hack ‘unhackable’ wallet

McAfee is taking another ‘bullshit walk.’ This time, to help a start-up called Bitfi sell some wallets.

John McAfee is at it with the shilling party again. Yesterday, he tweeted about a cryptocurrency wallet start-up called Bitfi, daring the Twitterverse to hack the supposedly “unhackable” wallets.

“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 http://Bitfi.com,” he tweeted.

Such a claim is reminiscent of yet another start-up called SmartBillions, who dared the entire Internet to try and hack their also “unhackable” smart contract which contained all 1,500 ETH of their funds. And then they got hacked. The “winners” got away with 400 ETH before SmartBillions backed out of their own dare and pulled out the rest of their fund.

To wash themselves clean of any suspicions that this is a white hat hack bounty (which would have been far more dignified), Bitfi clarifies that this is a demonstration to anyone who has any doubts.

“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,” they wrote. “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.”

But this is obviously a marketing trick, as expected from a professional shill who once blatantly marketed his shilling services for $105,000 until the SEC shut it down. Because before anyone can give it a go, they’d have to purchase a Bitfi wallet for $120, and then load it up with $50. If he were really that confident, it’d be a free-for-all on Github.

But the fact is that the $100,000 “prize” is probably what they assume this particular stunt would rake in. If they make at least this much, they wouldn’t have to fork any money should things go down.

As it seems, some are willing to pitch in to the pot money. Regardless of whether Bitfi turns out to be truly “unhackable,” this kind of marketing stunt in the cryptocurrency industry is ironically the ultimately fitting definition for “bullshit walks.” As in: “let me take a short ‘bullshit walk’ and we’ll be swimming in ICO money in no time.” At least, now we have a new term to coin. #bullshitwalks

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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