McAfee Unhackable Wallet Reportedly Hacked Into

The Bitfi Wallet by McAfee, claiming to be a one of a kind unhackable wallet has already allegedly been hacked into after John McAfee offered $250000 in rewards to each successful hack. After OverSoftNL, a security research organization claimed to have already broken into the wallet and hacked into its root, the wallets creator has not yet responded or made official statements.


Not So Sturdy

Posted on Twitter by Oversoft, the group claimed to have broken into the wallet and gained access into its root, patched permanent software, and evidence that the digital wallet is still operational and connected to the company dashboard. Additionally, the post states that none of the claims by the wallets creator are evident.

No response was made right away following the post by Oversoft, although a separate post later in the day hinted towards the situation. In the post by Bitfi, it revealed an additional reward to those that aid the wallet in potential threats and vulnerabilities to its system. Another post by Oversoft saw the wallet of using the promised reward as a con of sorts and suggesting that no data on any breaches or vulnerabilities discovered would be released.

Bitfi has made several statements regarding its efficiency and “unparalleled” security, earning a name for itself as a daring and unshakable self-promoter and has made many intense claims that its wallet was unbreakable and would be impossible to hack into, offering the rewards to any programmer that manages to hack their way through.

Initially set at $100K as a reward with each successful and proved hack, the reward found itself climbing to a quarter of a million USD following criticism aimed at McAfee regarding his bold statements. The company did then state that the reward was no ploy to aid the wallet in exposing any weaknesses but was to support its claims of security.

Exploring Weakness

Following the statements, several security researchers quickly began disputing and criticizing the claims by McAfee and saw many attempts at discrediting anything he has claimed in regard to the wallets security. Ryan Castellicco also stated that the wallet is a poorly recycled Android mobile phone and warned anyone against the wallet.

More accusations were made, including that the wallet was hosting suspicious applications on the hardware including Baidu, a search engine in China which was claimed to have connected to its native country on a regular basis. Bitfi then completely denied all allegations and accusations made against it, once again repeating its $250K reward and making its own accusations again Oversoft and claiming the group was employed by Bitfi’s rivals.

Oversoft did then point out that possible evidence to support their accusations of infiltrative monitoring software being harbored on the hardware wallets despite the denial by Bitfi. Should the claims of hacking the unhackable wallet are true, no comments by McAfee or Bitfi have been made as of now.

2 years ago

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