Irony: McAfee’s ‘Unhackable’ Bitcoin Wallet Allegedly Hacked.

The creator of Bitfi Bitcoin wallet had announced a hacking challenge worth $250,000, following which, John McAfee’s Bitfi bitcoin Unhackable wallet has been reportedly hacked. A security research group OverSoftNL claimed to have obtained root access and the post has not been responded to, by Bitfi.

Twitter War

On August 1, 2018, a tweet was posted by Oversoft that read, “Short update without going into too much detail about BitFi: We have root access, a patched firmware and can confirm the BitFiwallet still connect happily to the dashboard. There are NO checks in place to prevent that like claimed by BitFi.”

Likewise, Bitfi gave a response to the Oversoft post in its subsequent tweet that read, “Dear friends, we’re announcing second bounty to help us assist potential security weaknesses of the Bitfi device. We would greatly appreciate assistance from the infosec community, we need help. Here are the bounty conditions: https://bitfi.com/bounty2  Thank you, Daniel Khesin CEO.”


On the same thread, Oversoft also accused Bitfi of using the challenge amount of $250,000 as a marketing strategy. They further added that any information regarding the security weaknesses will not be handed over by their team. Furthermore, their tweet read, “They deny anything that’s not exactly according to their bounty rules, aka they will never pay a bounty. It’s pure marketing.”

Unhackable Wallet

In the course of promoting Bitfi, the bounty amount went up from $100,000 to $250,000. However, John McAfee made a point to specify that the amount was not meant for identifying security vulnerabilities and their claim of being unhackable wallet was absolute truth. Consequently, a series of security researchers started picking flaws in Bitfi’s claims. Bitfi also accused Oversoft of working for its competitors and reiterating its $250,000 bounty. However, Oversoft replied to the thread by claiming that they have evidence to back up their claims. Eventually, their final tweet read, “Btw, you might notice that the Baidu location tracker and the Adups service are both actually running…Not just being used for “pinging” like BitFi said…”


So far, both BitFi and McAfee are yet to respond on the controversy.

 

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