John McAfee’s “unhackable” BitFi wallet is hackable, makers withdraw claim

The makers of the BitFi “unhackable” wallet withdraw their claim as a fresh hack appears successful…

The story of the BitFi wallet and the claim that it’s unhackable seems to be drawing to a close. Cryptocurrency advocate John McAfee has given BitFi hefty profile off the back of his continued claims that the wallet can’t be hacked, and he offered too a six figure bounty if anyone could remove the Bitcoin he’d put in three named BitFi wallets.

Over the past few weeks, there are been several hacks on the wallet that seemed to have proven that it could indeed be hacked. Conversely, McAfee doubled down on the fact that the funds had not been removed and thus the bounty hadn’t been won.

However, news has come to light of a new hack, and this one in theory looks like can indeed remove the funds from a wallet…

It looks too as though BitFi has admitted defeat on this one. In a post to its own Twitter feed, it confirmed that “effective immediately, we will be removing the ‘unhackable’ claim our branding, which has caused a significant amount of controversy”. Also effective immediately, “we are closing the current bounty programs”.

Here’s BitFi’s official statement.

McAfee himself has not yet commented on the fresh hack. That said, if his intention all along was to raise the profile of BitFi, you’d have to conclude, for better or worse, that it’s a job rather well done.