Digital Assets: Israeli CyberSecurity Firm GK8 Dares Hackers With $250K Bounty

February 4, 2020 | Digital Assets, News

GK8 promises unhackable custody for crypto-assets that is NEVER connected to the Internet. And bets $250K to back its claim.

Financial institutions worried about the security of their crypto-assets may take heart from the solution offered by Israeli cyber-security firm GK8. Digital assets are stored in the world’s first truly cold wallet – a five-patent system protected by a uni-directional no-attack vector connection that is never directly or indirectly connected to the Internet.

CEO Lior Lamesh and CTO Shahar Shamai founded GK8 in July 2018.

GK8 has dared hackers to burgle a bounty of $125K stored in a cold wallet, with the promise of another payout of a $125K bonus, according to Digital Journal. The first person to crack the GK8 system could, therefore, earn about 28 bitcoin for their efforts.

Government standard security

Would-be hackers with dollar signs in their eyes likely have an uphill task before them. According to the GK8 website, their on-premise hardware, and software system utilizes advanced proprietary cryptography techniques with military-grade physical protection.

Furthermore, it combines cold wallet insulated from inbound communication with an ultra-secure, proprietary MPC wallet for automated transactions.


Custody clients are offered 24/7 on-the-spot withdrawals, automatic reconciliation and balancing, disaster recovery including private-key backup, and advanced authentication via password, biometric and GEO location.

Financial institutions can execute the entire digital assets management process. This includes sending transactions to the blockchain, without the need for an Internet connection.

“We want to make it known that we’re changing the cybersecurity game here,” says Lior Lamesh, Co-founder and CEO of GK8. “Ours is the only truly cold wallet in the market and provides an unprecedented level of security. We dare the hackers of the world to take a stab at cracking it, but they won’t be able to.”

GK8’s dare

The bounty program is open for 24 hours with effect from February 3, at 9:00 a.m. EST.

“To prove our wallet is really active and live, from the minute we launch the challenge, every 24 blocks we will send a real-time transaction to the address of the miner that closed the last block,” says Shahar Shamai, CTO of GK8. “This bounty is the real deal.”

Related Story:  Digital Assets: Gear Up for New Threats From “Financially Motivated” Bad Actors, Says Kaspersky                                                 

Image credit: GK8

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
FinTech: India’s PayTM Gets Heat From Proxy Advisory Firm
August 12, 2022     FinTech, News

Proxy advisory firm Institutional Investor Advisory Services India Ltd. (IiAS) has issued a note ahead of PayTM’s (NSE: PAYTM) annual shareholders’ meeting on August 19 calling for the replacement of…
Venture Capital: Lockheed’s Venture Arm To Boost Investment In Space Startups
August 12, 2022     News, Venture Capital

Lockheed Martin (NYSE: LMT) and its venture finance arm Lockheed Martin Ventures plans to boost the latter’s investment outlay from $200 million to $400 million.
Digital Assets: Brazilian Fintech PicPay Launches Crypto Exchange With Paxos

PicPay, the well-known Brazilian payment app, has got its shoe in the crypto door in partnership with Paxos, a leading regulated blockchain infrastructure company. Picpay is opening crypto trading services…
FinTech: Telecom Behemoth BT Adds Barclaycard Payments To Partnership Network For Micro-Businesses
August 12, 2022     FinTech, News

BT (LON: BT.A), the telecom major, announced that Barclaycard Payments had joined its partnership network seeking to help the growth of UK microbusinesses. BT customers with 0-5 employees would get…