McAfee’s ‘Unhackable’ Bitcoin Wallet Allegedly Hacked - page 2.

o_e_l_e_o

legendary

Activity: 2268

Merit: 18706

Quote from: stompix on August 02, 2018, 08:13:27 PM

They should really turn damage control on, pay up the bounty and if they are 100% sure about the whole root/access to funds stuff only then they should issue a second challenge based exactly on this.

They won't pay. As with most things associated with the serial scammer McAfee, it was all show and no substance. The bounty was a marketing ploy only - they had no intention of ever paying.

Quote from: pooya87 on August 02, 2018, 11:44:49 PM

the hardware wallets are the best.

Some hardware wallets (like Ledger or Trezor) are the best. Definitely not this Bitfi scam.

pooya87

legendary

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Quote from: darkangel11 on August 02, 2018, 05:41:03 PM

Yea I saw that a couple hour ago. This raises questions as to whether other hardware wallets are as safe as their creators are claiming. If you ask anybody on the forum most will tell you that hardware wallets are the safest way to store your coins. I've seen dozens of similar threads about security and at least 90% of the answers were "buy a hardware wallet".

the main point to remember is that there is no 100% safe anywhere. even an encrypted paper wallet is not 100% safe. but for a lazy newbie who doesn't know what a clean computer is, how to run linux for instance, how to create a paper wallet and doesn't want to go through the long process of learning and then doing it, the hardware wallets are the best.

Quote from: D C on August 02, 2018, 05:41:54 PM

Let see if he coughs up the money.

he will probably cough it up after he ate his own dick on TV Wink

stompix

legendary

Activity: 2912

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Blackjack.fun

Quote from: darkangel11 on August 02, 2018, 05:41:03 PM

If they want to keep the company they should pay the 250k prize. Claiming the wallet is unhackable is fine, it's still in the early stage, but not paying the bounty will bury them.

They should really turn damage control on, pay up the bounty and if they are 100% sure about the whole root/access to funds stuff only then they should issue a second challenge based exactly on this.

Suddenly dropping the bounty from 250 000 to 10 000 smells fishy to me, it looks to me like they want to avoid larger groups with more resources that would be tempted by a 1/4 million prize.

Anyhow...
https://www.csoonline.com/article/3294619/security/bounty-for-hacking-the-unhackable-bitfi-wallet-jumps-from-100k-to-250k.html

Quote

The researchers did find some troubling apps on the device, including the Chinese app Baidu and Adups malware which seem to be calling home.

They are probably done for.

gidaahmad

full member

Activity: 476

Merit: 100

I am not a smart person in IT. But I've heard the phrase "No system is safe". And I'm sure they (hackers) are also working hard to hack every data and website. With the hackers, website system developers and application systems can take this as a lesson for future systems they develop can be stronger than the threat of hackers.

kujaroth

newbie

Activity: 69

Merit: 0

Nothing is impossible. It is improbable that there is a perfect system or program to protect us. There will always be loop holes or even a breach of security no matter how small the chances are or the options are. There's a saying that; If there's a will there's a way.

squatter

legendary

Activity: 1666

Merit: 1196

STOP SNITCHIN'

That's what you get for calling something "unhackable"...

Quote from: darkangel11 on August 02, 2018, 05:41:03 PM

Yea I saw that a couple hour ago. This raises questions as to whether other hardware wallets are as safe as their creators are claiming.

Of course they aren't. They may be safe based on a limited understanding of the threat surface, but that's all. Things like Meltdown and Spectre really put into perspective just how little we might know about critical vulnerabilities in micro-processors.

Quote from: darkangel11 on August 02, 2018, 05:41:03 PM

If you ask anybody on the forum most will tell you that hardware wallets are the safest way to store your coins. I've seen dozens of similar threads about security and at least 90% of the answers were "buy a hardware wallet".

I often respond to these suggestions when I see them, and urge people not to dump all funds on a hardware wallet. It's fine for day-to-day spending and limited storage. But it's not cold storage. And as a matter of practicality, it's very dumb to store all funds in one wallet, which is what many people apparently do.

gentlemand

legendary

Activity: 2590

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Welt Am Draht

Cue screeds from them discussing what constitutes a hack and what doesn't. I will guess they'll purely nominate the removal of money from a wallet created by this device as a successful hack which may indeed be a lot harder than just cracking hardware or software.

But no one should ever make an 'un' claim about anything, especially something as closely watched and complex as crypto software. If I were him I would've just said 'this wallet is lovely. I'd like you to buy one'.

Instead he's going to have to commit to defending a position that many people will take great delight in picking apart from multiple angles.

avikz

legendary

Activity: 3080

Merit: 1500

I doubt that claim of CCN. Read the tweet below,

https://twitter.com/officialmcafee/status/1025066147694174215?s=19

This challenge immediately caught my attention and I am keeping the updates as well. No prominent claim of money hacked not yet been published. But it is too early to say anything and we should not underestimate the power and knowledge of the hackers. Especially when the bounty is too tempting!

D C

newbie

Activity: 55

Merit: 0

Let see if he coughs up the money.

darkangel11

legendary

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Merit: 1335

Don't let others control your BTC -> self custody

Yea I saw that a couple hour ago. This raises questions as to whether other hardware wallets are as safe as their creators are claiming. If you ask anybody on the forum most will tell you that hardware wallets are the safest way to store your coins. I've seen dozens of similar threads about security and at least 90% of the answers were "buy a hardware wallet".
If they want to keep the company they should pay the 250k prize. Claiming the wallet is unhackable is fine, it's still in the early stage, but not paying the bounty will bury them.

PsylockReborn

member

Activity: 420

Merit: 24

This article made my day just by reading its title. The worst part that I really liked is when they said that its just pure marketing and they will never pay a bounty. Kudos to those individuals who tried to measure the security of this unhackable bitcoin wallet. Grin

.. You may never receive a bounty from them but you have the bragging rights to all crypto enthusiasts.

Do you think this bitcoin wallet will still be used by anyone of us? What do you think about this article? Share me your thoughts guys. I bet you'll laugh as well on this one.

https://www.ccn.com/mcafees-unhackable-bitcoin-wallet-allegedly-hacked/

Topic: McAfee’s ‘Unhackable’ Bitcoin Wallet Allegedly Hacked - page 2. (Read 341 times)