Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: fitload on August 15, 2018, 03:12:19 PM
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The developers of the Bitfi cryptocurrency wallet, which was endorsed by John McAfee and supposed to be ‘unhackable’, have issued a threat to researchers who claimed to have hacked it.
John McAfee launched a bounty campaign for his wallet, promising first $100k, then $250k to a person or people who would break into Bitfi.
Also Read: 15-Year-old Hacks John McAfee’s ‘unhackable’ BitFi Bitcoin Wallet and Plays ‘DOOM’ on it
A cyber security company which claimed to have done so was completely ignored by both McAfee and other Bitfi employees.
After that, a new group of researchers tried to hack Bitfi and succeeded as well. This hack appeared to meet the conditions for Bitifi’s promised $10k bug bounty, but the developers were not willing to accept it as valid.
McAfee reacted by saying that a wallet can be considered hacked only if the hackers obtain coins, and no coins were stolen from Bitfi.
Bitfi published a tweet which contained direct threats aimed at the researchers participating in their “bounty”. The tweet was deleted shortly afterward, but most people managed to see it.
Undeterred by this, the researchers issued a statement criticizing Bitfi’s constant redefinition of what ‘unhackable’ means. They claimed that “the bounty is a strawman, designed to allow Bitfi to claim they haven’t been hacked…
In reality, the bounty only covers a single attack: sending your wallet (which has a strong seed and phrase) via UPS (taking several days) to an attacker. This doesn’t emulate the real world, not even close.
The campaign which was supposed to bring recognition and popularity to Bitfi is now only bringing it “black”. As observers on Twitter were shocked by the attitude of Bitfi towards the community.
Read More: https://news.bitzamp.com/john-mcafee-threatens-hackers-who-were-supposed-to-get-paid-for-hacking-its-bitfi-crypto-wallet/ (https://news.bitzamp.com/john-mcafee-threatens-hackers-who-were-supposed-to-get-paid-for-hacking-its-bitfi-crypto-wallet/)