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There is no reason why it would be illegal. There was a cash treasure hunt on the west coast several months ago that caused the twitter handle to get thousands of followers.
The fact that the guy remains anonymous might be an indicator of the uncertainty he has.
Moreover somebody tries to make hidden cash in Paris and they received a letter from the police
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Buzis plans to stage a Hidden Cash event in Paris, however, came to an abrupt end this week after police sent him a letter informing him that it was against the law to distribute money in public in France. The offense is punishable by six months in jail and a 30,000 euro ($40,000) fine.
http://www.france24.com/en/20140626-france-police-say-non-hidden-cash-treasure-hunt-paris/
By the way I contacted my local police to know more about it
