John McAfee Bitfi Wallet is now Hackable: Researcher Claims

Some security Researchers claims that John McAfee Bitfi wallet is now hackable. They claim they hack the Bitfi wallet via a Cold Boot attack. In the hacking industry, the phrase is very popular which says everything has a loophole and is hackable. A few weeks earlier we Blog an article in which John McAfee Presents $100000 Bounty Offer to Hack Bitfi Wallet. You can read this blog post as well to gain the whole context. However, now the company has discontinued the program and claim to launch it again via Hacker one. But why all this happens in our opinion.

The BitFi wallet is powered by Android OS. Moreover, the wallet protects the user fund (i.e. coins) via two unique values. These two unique values comprise of a user-generated phrase and a salt value. Both of these values combine to create a private key which is in turn use to access the funds. Now, security researchers claim that they can access user-generated phrase and salt value using a cold boot attack.

John McAfee Bitfi Wallet is now Hackable: Rashid Claims

Saleem Rashid explains this whole scenario via a video. This video he post in one of his tweets. The video explains how he performs the cold boot attack.

on a completely unrelated note, here is a @Bitfi6 being cold boot attacked.
it turns out that rooting the device does not wipe RAM clean. who would have thought it!?
🎶 i feel this music is very appropriate for @Bitfi6 🎶 pic.twitter.com/jpSnYBd9Vk
— Saleem Rashid (@saleemrash1d) August 30, 2018

Responding to his tweet, the company posted a tweet that says BitFi hired some security managers who will confirm the vulnerabilities that are claimed by the security researcher. Moreover, they also write that currently, they are closing the Bounty program because of the anger and frustration among security researchers. Moreover, we also look through the BitFi wallet site and there they say they will soon launch the bounty program via hacker one.