15 Year Old Kid Hacks John McAfee's 'Unhackable' Cryptocurrency Hardware Wallet! Plays DOOM on The Device
The radically innovative Bitfi wallet is the world’s first un-hackable device that is the quintessential expression of disruptive research and development.”
That’s the claim being made by Bitfi on their home page. They have offered an official bounty of $250,000 USD to anyone who can successfully hack and remove $10 worth of cryptocurrency from a Bitfi wallet.
John McAfee helped create the Bitfi wallet, which sold out on just 22 minutes after launching on June 25th 2018. The device costs $120 and the company impose a maximum order quantity of 3 per customer.
The wallet does not store the private keys to the wallet on the device itself, no and therefore cannot be hacked. Traditional cold storage methods such as paper wallets or offline computers are vulnerable to the risk of seizure or thefts. Since these methods directly store the private keys, the cryptocurrency is very vulnerable in the event of a theft.
The Bitfi wallet is claiming to be impossible to steal cryptocurrency from, even if the device is stolen.
If device is seized, lost, or stolen the funds are completely safe. User can just order a new device and continue to use their original secret phrase or use Bitfi open source resources to retrieve their private keys and access funds.
Although nobody has successfully claimed the bounty reward and removed the cryptocurrency from the wallet, there have been many claims that the device can easily be hacked.
A 15 year old self professed Bitcoin hardware wallet breaker, @spudowiar posted a video showing him playing the video game DOOM.
Video : https://twitter.com/AbeSnowman/status/1027377982497861632