Please Add Widget from here
  • BTCBitcoin$6,615.28-1.13%
  • ETHEthereum$234.72-3.23%
  • LTCLitecoin$58.48-3.89%
John McAfee’s Unhackable Cryptocurrency Hardware Walle...
Blockchain, Cryptocurrency News, Technology

John McAfee’s Unhackable Cryptocurrency Hardware Wallet Seems To Be Just A Mere Hype, Closes Wallet Bounty Program

In a tweet from Bitfi’s manufacturer on August 30th, John McAfee clearly stated his intention to bring to an end, the challenge he started up himself, on seeing the amount of hack threats coming in from different remarkable hackers around the world.

The challenge, set up in the late days of July displayed it’s manufacturer bragging over the hardware wallet to be “Unhackable” and at the same time staking $250,000 as bounty price for anyone who successfully hack the wallet. Seems like the opposite is the case right now as group of hackers come together to proove that McAfee is totally wrong about the whole concept.

First came Ryan Castellucci, the software engineer and hardware hacker who commented that Bitfi appears to be exactly what it seems to be from its marketing photos – a cheap stripped down Android phone.

Another tweet from Twitter account, @OverSoftNL claims it has successfully hacked the above mentioned wallet. On August 1, the OverSoft team revealed that it had obtained root access and installed patched firmware. The team, however, declined to provide further details but has promised to release a video revealing details of the process. They also found that the Baidu location tracker and Adups service were not only pinging but actually running. OverSoft could not get the bounty, as apparently, they didn’t hack the device as outlined in the guidelines.

In a recent tweet, the firm however accepted its flaws and weakness but has refused to reveal more details surrounding the whole phenomenon even though they have confessed to hiring a “Security Manager who is confirming vulnerabilities that have been identified by researchers.”

In conclusion, it seems the man behind the whole idea is satisfied with the amount of hack threats coming in, so has decided to bring it to an end officially, via his tweet made a day before yesterday.

Leave a Comment

Your email address will not be published. Required fields are marked *