John McAfee’s ‘unhackable’ Bitcoin wallet is hackable, company admits

John McAfee. No, this is not a photoshop — he really burned the cash.

Screenshot by Sean Hollister/CNET

Two weeks in the past, it appeared protected to say that John McAfee’s supposedly “unhackable” cryptocurrency wallet had been hacked. (It has been practically 4 weeks for the reason that first safety researchers reached that conclusion.)

But it surely’s solely at this time, within the wake of yet one more hack (extra particulars on the hyperlink), that wallet-maker Bitfi has determined to confess defeat.

In an announcement on Twitter, the company says will probably be eradicating the “unhackable” declare efficient instantly, and the company is additionally admitting that researchers have recognized vulnerabilities.

“We took this step to cease the negativity and the anger on social media which was not wholesome,” the company instructed CNET by e mail.

Once we requested, Bitfi would not say whether or not it can award the $250,000 or $10,000 bounties it provided to those that might show they’d been in a position to hack the wallet — the company says it can make a “complete public assertion” on all points, together with the bounty funds, subsequent week.

Bitfi intends to attempt to repair the wallet by addressing these points slightly than recalling the product or stopping gross sales. “No matter points we uncover can be patched for all prospects through our push updates,” the company tells CNET.  

The tweet additionally accommodates one thing of an apology: “Whereas our intention has at all times been to unite the neighborhood and speed up the adoption of digital property worldwide, we understand that a few of our actions have been counterproductive to that aim.” 

McAfee did not instantly reply to a request for remark. He had sometimes weighed in on Twitter after every earlier hack to assert they weren’t really hacks, however he hasn’t tweeted up to now seven hours.

Replace, four:28 p.m. PT: With further feedback from Bitfi.

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