Cybersecurity team claim to have hacked ‘unhackable’ crypto wallet
A group of researchers say they’ve managed to hack a cryptocurrency wallet that has been described by cybersecurity ace John McAfee as the “world’s first unhackable device”.
McAfee is the executive chairman of Bitfi, producer of the hardware wallet that can support an unlimited amount cryptocurrencies – according to the makers’ claims.
Beefed up security
Security on the device centres around a user-generated secret phrase instead of the conventional 24-word mnemonic seed that must be written down.
McAfee was so confident of the security on the wallet that he offered a $10,000 bounty to anyone who could breach its security measures.
While several hacking attempts have been made, none had met the terms of the challenge set by McAfee – to be able to modify the device, connect to the Bitfi server and send sensitive data with the device.
The team – led by security researcher Andrew Tierney – claim to have met all three criteria: connecting to the server and modifying the device to play vintage shoot-em-up game Doom, and then sending signed transaction data with the device.
McAfee responded on Twitter: “A video played on your Bitfi wallet has nothing to do with the safety of your funds. This is amateur hour, not a hack! Any device with a computer and screen can be used to play games.”
A video played on your Bitfi wallet has nothing to do with the safety of your funds. This is amateur hour, not a hack! Any device with a computer and screen can be used to play games. I should start watching my YouTube videos on Bitfi wallet. Go to https://t.co/ATFaxwUzQC !
— John McAfee (@officialmcafee) August 12, 2018
Tierney returned with a demand for the $10,000 to be paid in bitcoin:
— Ask Cybergibbons! (@cybergibbons) August 13, 2018
Your move Mr McAfee.