John McAfee and BitFi’s ‘unhackable’ wallet apparently hacked

John McAfee’s Bitcoin wallet appears to have been accessed by research group OverSoftNL, despite both McAfee and Bitfi marketing it as ‘unhackable’.

Oversoft tweeted: “Short update without going into too much detail about BitFi – we have root access, a patched firmware and can confirm the BitFi wallet still connect happily to the dashboard. There are NO checks in place to prevent that like claimed by BitFi.”

The wallet’s creator issued a challenge for $250,000, but has not yet responded to to the claims that it has been hacked. Bitfi CEO Daniel Khesin, however, did announce on social media that a ‘second bounty’ was being launched in order to “assist potential security weaknesses of the Bitfi device”.

“We would greatly appreciate assistance from the infosec community, we need help.”

This is a change of tune for Bitfi who, before the first bounty was announced, held on to the claim that the wallet was unhackable. Now, it seems that it was in service of discovering security weaknesses.

This apparent response hasn’t sat well with Oversoft, who has since called the original challenge “pure marketing” and speculated that the bounty will never actually be paid.

The argument has become particularly high-profile because of the involvement of John McAfee, who has been making crypto-related headlines for months now.

And it’s not the first security-related controversy. In April, 25,000 investors details we revealed following a data breach at Bezop – a crypto and blockchain company supported by McAfee as an advisor. Full names, addresses, email addresses, encrypted passwords, wallet information and passport details were amongst the information exposed.