John McAfee has made it to the news headlines several times in the past few months. Just a few days back he had tweeted a challenge that if anyone hacked Bitfi crypto-wallet, Bitfi would reward him/her with a “bounty” worth $100,000. The wallet has allegedly been hacked almost ten days after McAfee posted the challenge.

Post the challenge, many claimed that it couldn’t be impossible to hack a wallet, and McAfee posted several tweets telling the possible hackers that it would just be a waste of their time. He also said that they needed to re-educate themselves if they thought that Bitfi could be hacked.

In his series of tweets, McAfee also declared that the prize was not being paid by him, but by the organization- Bitfi. He also said that the $100,000 bounty was not just for the first person who hacked into the wallet; it was for anyone who could do that. “If 100 people hack it, each one gets $100,000. But I promise you, it cannot be hacked, ever, by anyone or anything. Try it,” he further added.

On 1st August, he further tweeted that the bounty for hacking into Bitfi had been raised to $250,000. A user named “OverSoft” tweeted on the same day that they had root access and Bitfi’s claim had been proven wrong.

On this, McAfee resorted to Twitter again and said that gaining root access did not mean anything. The rules of the challenge specified that to succeed the challenger had to empty the wallet and transfer all the coins in his/her account.

Bitfi also tweeted that they were announcing the second bounty to get assistance for potential security weaknesses of the platform. They also shared the conditions for this second bounty. In a subsequent comment, OverSoft accused the crypto wallet of using the prize as a ploy. “They will never pay a bounty. It’s pure marketing,” the user commented.

Sukriti Leekha

Sukriti Leekha ,An Economics major by qualification, and writer by profession, Sukriti Leekha has been an active contributor to the blockchain space. As an economist, she is interested in the financial scope of cryptocurrencies, and as an individual, she is passionate about the latest technologies. When she is not researching, she spends her time travelling, exploring the entrepreneurial space, or losing herself in a book.

Sukriti Leekha

Sukriti Leekha ,An Economics major by qualification, and writer by profession, Sukriti Leekha has been an active contributor to the blockchain space. As an economist, she is interested in the financial scope of cryptocurrencies, and as an individual, she is passionate about the latest technologies. When she is not researching, she spends her time travelling, exploring the entrepreneurial space, or losing herself in a book.