The “unhackable Bitfi wallet” that was introduced and promoted by John McAfee has allegedly been hacked by researchers who claim to have met the needed and basic prerequisite laid down by Mr. John McAfee to get the $10,000 bounty promised by the firm for anybody that can hack the device.
The Unhackable Wallet
Bitfi was advertised to investors as the wallet that can never be hacked by any hacker, researcher or technology guru. The company was so sure of the security of their device, that they placed a bounty of around $10,000 on the device, claiming that anybody or group that can move the preloaded coins off the physical device, connect to the Bitfi servers and send sensitive data with the device, will be giving the money.
After a long wait, someone seems to have been able to break through. Virtually everything that the firm is asking has been met and thus, asked to be paid the bounty reward. Andrew Tierney AKA Cybergibbons was quoted to have said that,
“We have sent the seed and phrase from the device to another server; it just gets sent using netcat, nothing fancy. We believe all [conditions] have been met.”
Though, the claim of the researcher is said to be on point with the general condition that was given by the wallet. It is not yet ascertained if the firm will respond by giving him the money or will do otherwise.
The claim of the hacker, if verified, will sound as a major blow to the integrity of the wallet, who have successfully planted in the mind of their numerous investors, that the device is truly unhackable with more and more investors are now believing once again that their cryptocurrencies are safe and secure with the Bitfi device.
Hacking of cryptocurrencies has not in anyway helped to boost the image of the virtual market, as numerous news and tales are heard weekly of incidence of stolen or lost cryptocurrencies, chasing away potential investors and giving the major operators nauseating headaches about how to cope with the menace.
Lots of hope have been placed on the shoulders of Bitfi, as if it is genuinely unhackable like they claim it is. This might just be the answer that most investors and traders in the virtual market have been waiting for in a very long time.