The ‘Unhackable’ Bitfi Wallet Of John McAfee Has Been Hacked

The Bitfi bitcoin wallet that John McAfee holds has allegedly been hacked after the creator issued a $250,000 hacking challenge. What’s interesting is that Bitfi has marketed the wallet as “unhackable” and John McAfee was promoting it in that way.

The tweet which delivered the most detail was posted by Oversoft, stating:

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.

— OverSoft (@OverSoftNL) August 1, 2018

Even though Bitfi did not respond to the accusations immediately, they later referenced to it in a subsequent post, stating the following:

https://www.twitter.com/Bitfi6/status/1024736244067172358

A new tweet in the same thread saw Oversoft accusing Bitfi of using its $250,000 bounty as a marketing ploy, hitting that they would not hand over any information about the security information just yet.

They deny anything that's not exactly according to their bounty rules, aka: they will never pay a bounty. It's pure marketing.

— OverSoft (@OverSoftNL) August 1, 2018

After this, a war of words broke between Bitfi and a series of security researchers. As John McAfee got into the rhetoric in response to the criticism from security researchers, the bounty went from $100,000 to $250,000 and the security vulnerabilities which were seen as “unhackable” were discovered.

In response to the researchers saying this – and even another group which accused Bitfi of harboring questionable apps – Bitfi issued a comprehensive denial of the claims and accused Oversoft of working for its competitors and reiterating its $250,000 bounty.

At the end of the day, if the Bitfi wallet has been hacked, we will see what this would mean for Bitfi and McAfee, both of whom had no response as of press time.