$15K Reward for Beating iPhone Fingerprint Lock

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Sept. 20 (Bloomberg) -- Errata Security CEO Robert Graham and I/P Capital Partner Arturas Rosenbacher discuss Apple's fingerprint lock with Trish Regan on Bloomberg Television's "Street Smart." (Source: Bloomberg)

You wait for the apple iphone kindle print -- is the apple iphone apple has launched its new iphone.

The most impressive feature is the fingerprint lock.

There is a contest for the first to hack it.

Welcome to street smart.

Why did you decide to do this?

We were debating on twitter a couple of nights ago, security experts in our community.

Some of us were arguing that it is more secure than people think.

Apple invested hundreds of millions of dollars in the technology, and it is more simple than a tax people have done in the past against such systems.

Some hackers used a gummy bear in the past.

We think it is more difficult than that.

We put our money where our mouth is.

We put up hundreds of dollars and a website, saying, if you can hack it, if you people on twitter think it is that easy, here is some money you can win.

We do not think it is that easy.

Apple is saying this is not actually something that can be duplicated, is not habitable.

What do you think?

Do you think a clever hacker could get it done?

Munley found out about this project, we were very intrigued, because we knew it could be done.

You knew it could be done?

Everything can be hacked.

Everything can be broken into.

Everything can be stolen.

We put our money where our mouth was.

What is the risk if it can be done?

What is the implication of that?

The implication if it can be done.

We are trying to do this with white hat, ethical hackers, people who do this to tell apple how it is done, so they can fix it all stop i do not want to call it a race against time.

We are trying to get it done now, tell apple to fix it before malicious hackers get this and sell the data for thousands of dollars.

Bikes are you convinced someone is going to win this?

I think eventually.

The point is, it is more difficult than people think.

I expect about four months from now, some hacker, maybe a teenager with a crazy idea no one ever thought of before -- he is the one going to win the prize.

What do you think the implications are if that happens , if we learn this can be hacked , and that someone could get a hold of someone else's fingerprints?

As we talk about the smart wallet age, what might the risk before society?

People may have to stop using this feature.

More probably, apple will release a software patch.

The technology is sophisticated.

If hackers find a creative way around it, apple can probably find a creative away -- a creative way to get around the hack.

Will there be someone else who is smart enough to crack the code?

There is always an arms race in our community, yes.

Year after year, yes.

Robert graham.

Thank you so much.

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