Read the success stories of crypto entrepreneurs.

Discussions are fun when we are part of a community.
Login Free Registration

Get 10 AltcoinN Points just by registering on this forums.


GK8 Security Firms Offers $250K Bounty for Hackers Who Can Hack Its Cold Wallet

SourceOriginal
#1
Bitcoin Exchange Guide

 
Bitcoin News
GK8 Security Firms Offers $250K Bounty for Hackers Who Can Hack Its Cold Wallet
By Daniel W- January 28, 2020

GK8, a cybersecurity startup based in Israel has offered a bounty of up to two hundred and fifty thousand dollars in BTC for any person who will manage to access or hack its crypto cold wallet. The bounty program which is expected to run for a period of twenty-four hours is expected to go live on the morning of February 3rd.

The company has stated that the official starting time will be at 9:00 am EST. This information is based on a statement that was shared on Monday by The Block. The statement further goes to state that when the program begins, the GK8 cold wallet will be holding around one hundred and twenty-five thousand dollars’ worth of BTC.


 
It goes on to state that the first person to bypass its security measures will not only get to walk away with the money in the cold wallet, but they will also receive an additional $125,000 in form of a reward from the company.

Bounty Worth in BTC
The total amount of money that has been offered by GK8 to all interested hackers is worth at least 28BTC going by the current trading prices. On the heels of releasing this statement, the cybersecurity startup has stated that no one can be able to hack into its cold wallet. The actual terms used were “totally unhackable.”

It states that the reason for this is because of the digital management process occurring behind the scenes which do not require the presence of a web connection. Lior Lamesh, the GK8 CEO and Co-Founder is a cybersecurity expert who has in the past worked for The Office of the Prime Minister of Israel. Lior commented on the bounty program and stated that:

“WE DARE THE HACKERS OF THE WORLD TO TAKE A STAB AT CRACKING IT, BUT THEY WON’T BE ABLE TO.”

The startup was able to raise a total of four million dollars last September as part of its seed funding round. The money was to be used in building its cold wallet using the functionalities associated with a normal “hot” wallet.

Previous Review
3 Days Left Before Poloniex Permanently Disables The Withdrawal of 5 Cryptos
Next Review
Vertalo CEO Urges Users To Switch From Ethereum Blockchain To Tezos Staking Protocol
Daniel W
Daniel W
Daniel Wambugu writes daily cryptocurrency and blockchain related articles BitcoinExchangeGuide. His articles have appeared in numerous blogs, media publications, and community forums. He prides himself on once being a beginner and uses his experience to deliver high-quality insightful content for our dear readers. With a knack for reviewing ICOs or researching news, Daniel plans to continue being a top contributor for many years to come.

 
Latest Crypto News
Virgil Griffith, ETH Dev Indicted by A Grand Jury For Violating IEEPA During North Korea Event
Virgil Griffith, ETH Dev Indicted by A Grand Jury For Violating...
January 9, 2020

Crypto Companies Process $2 Billion At Major Banks Without Their Knowledge:...
December 16, 2019
Bank of International Settlements General Manager Now Says CBDs Could Open New Opportunity
Bank of International Settlements General Manager Now Says CBDCs Could Open...
December 7, 2019
NO COMMENTS
LEAVE A REPLY
Comment:
Name:*
Email:*
Website:
Save my name, email, and website in this browser for the next time I comment.

Bitcoin Exchange Guide
ABOUT B.E.G.
Bitcoin Exchange Guide is a hyperactive hybrid of heavy-handed cryptocurrency content curation creators from christened community contributors who focus on delivering today's bitcoin news, cryptoasset user guides and latest blockchain updates.
Reply


Possibly Related Threads…
Thread Author Replies Views Last Post
  How to create your DeFi token and DeFi wallet? 0 819 11-17-2021, 07:39 AM
Last Post: JerryCatherin
  How to create your DeFi token and DeFi wallet? 0 852 11-17-2021, 07:39 AM
Last Post: JerryCatherin
  Multi Cryptocurrency Wallet Development 0 1,026 09-08-2021, 06:52 AM
Last Post: katrinkunze
  Multi Cryptocurrency Wallet Development 0 1,013 09-08-2021, 06:52 AM
Last Post: katrinkunze
  Multi Cryptocurrency Wallet Development 0 998 09-08-2021, 06:52 AM
Last Post: katrinkunze