McAfee doesn't believe his BitFi wallet has been hacked

14 Aug, 2018
by Ryan McInally
McAfee doesn't believe his BitFi wallet has been hacked

According to a report we released earlier today, businessman and crypto entrepreneur John McAfee had his BitFi wallet hacked. McAfee has been promoting BitFi wallet, which claims to be the “world’s first unhackable wallet.”

BitFi has been holding n open bug bounty of $10,000 for those who could successfully meet specific conditions and hack their wallet. McAfee has continuously “shrugged” off recent claims that BitFi has been hacked.

These conditions include

Modifying the device (done)

Connecting to BitFi’s servers (done)

Sending sensitive data (disputed)

The last condition is what is a point of contention as Andrew Tierney, a crypto enthusiast and security consultant at Pen Test Partners who also goes by @Cybergibbons on twitter was quoted as saying 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.”

According to one of the lead hackers Andrew Tierney and crypto website, TheNextWeb - Bitfi has made veiled threats towards the hackers who have claimed to hack the “unhackable” wallet.

McAfee’s latest responses shows his unwillingness to admit that BitFi was hacked. The main dispute being that pre-loaded coins are safe, and that by someone gaining access and sending private data does not constitute a hack.

Going forward it is unclear whether all parties, including Andrew Tierney, McAfee and BitFi will come to some consensus about whether there was a significant data breach or hack and if Tierney and his team should be given the bug bounty reward of $10,000.

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Read more about: John McAfee


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