[2018-08-14]Unhackable’ Wallet Reportedly Breached, Hackers Claim to Meet Bounty

[anamie]

Unhackable’ Wallet Reportedly Breached, Hackers Claim to Meet Bounty Conditions

A group of researchers claims to have have hacked the Bitfi wallet, the Next Web reported August 12.

Bitfi's executive chairman, cybersecurity pioneer John McAfee, has called it “the world’s first unhackable device.” To prove his claim, McAfee challenged security experts to breach the device for a $100,000 bounty starting July 24.

Bitfi is a physical device, or hardware wallet, which supports “an unlimited amount of cryptocurrencies,” and revolves around a user-generated secret phrase instead of a conventional 24-word mnemonic seed that has to be written down. Additionally, Bitfi is purported to be “completely open-source,” meaning that the user stays in control of their funds “even if the manufacturer of the wallet no longer exists.”

Though several attempts to hack the wallet have been made since then, none of them met the bounty’s terms and the wallet has ostensibly not been fully breached until today. The researchers claimed they could successfully send signed transactions with the wallet, claiming they met the conditions of the bounty program by modifying the device, connecting to the wallet’s server, and transmitting sensitive data with it. Security researcher Andrew Tierney said:

Source: https://cointelegraph.com/news/unhackable-wallet-reportedly-breached-hackers-claim-to-meet-bounty-conditions

[milewilda]

These three things "modifying the device, connecting to the wallet’s server, and transmitting sensitive data" is already eligible for that bounty and now they are denying that it isnt considerable to be a breach?
What a joke. Just remember that nothing on this world cant be hacked because there would always be a 1 flaw or hole and that crazy mcafee saying things too early about that unhackable wallet and now he would eat up his own words. hahaha

[1BTC EQUALS 1CAR]

I don't believe in the word 'unhackable' or 'secured' because there's is always a way for a talented hacker to access it. Putting a bounty on that wallet just makes them more motivated and excited to crack the wallet as soon as possible. I think they need to shift the access codes or passwords to a chain of infinite algorithm.