Press Release

Unhackable Claims by Security Researchers for Bifti

In today’s highly competitive world where we are living in the world of Artificial Intelligence and the enormous arrival of Blockchain technology, one has to be more peculiar when it comes to using new technology in place.

On the cryptocurrencies front, the wide range of transactions are transited on a regular basis, one can expect the major crypto-currency Bitcoin having sprawled numerous complexities like hacks, cyber attacks, hacks among others.

According to John McAfee, to execute the transaction and operating in the environment of cryptocurrencies, one has to be very conscious and be careful about their security and be educated enough to ward off outrageous claims normally happening in the kind of the transactions.  This is why an unhackable Bitfi Hardware Wallet needs to be in place which was already unveiled in June this year. As a tagline, it is called the first truly unhackable wallet that promises impenetrable security and execute its operation without any risk of loss. The Wallet itself claims to be the most consolidated inbuilt security compared to any other types like storage, or cold storage. This is why it is said to be Unhackable Bifti Wallet.

Additionally, John McAfee claims for the Bitfi is bold enough and unhackable indeed. Now that a variety of mechanism and sophisticated methods are available to make wallets secure and easy to use, the Bitfi Wallet will definitely create value that adds and considered to be the best security measure in place. There are various competitors that have innovative methods in place that protect private keys, however, Bitfi can give them an edge on security measure in an absolutely ethical way.

As per John McAfee, who says that no other hardware wallet that are available in the market that has been built to this level of competency that the Bitfi has. The level of competency in security measure was achieved primarily by utilizing a proprietary open source algorithm that computes the private key from a user’s own unique secret phrase as per the valid source.

Additionally, the developers at the company say that the Bifti Wallet cannot be meddled with. Even if it is lost, stolen or analyzed forensically, the private keys cannot be fetched thereby making the wallet safe to buy from anyone within the network of authorized distribution dealers.

The initial reviews were unsympathetic pertaining to Bitfi that can best be seen by the comment of one security researcher that says that the product is designed for shooting yourself in the foot. John McAfee criticizes all those researchers’ comments that comes as hatters and negative reviews are considered to be fake because those were based on Bitfi documentation except than analyzing the actual device in place. Additionally, he challenged if anyone else can hack the wallet to receive a $100000 reward.

At present security researchers have accepted the hacking challenge by putting their hands on the device. Eventually, they have been in a position to discover a few interesting things collectively like the hardware of the wallet is made of Chinese mobile phone (MediaTek MT6580) minus the camera and SIM Card. With this, the firmware contains a Baidu GPS/WIFI tracker which is a malware suite (Adups FOTA) and a tracker capable of logging all activities on the device.

Let us not forget that no matter which device you use or which technology that you have in place, one has to analyze the perspective from various angles especially when it comes to evaluating a variety of security measures!!

Sarah Picard
Sarah Picard is a part time contributor to CryptoWhile. She is pursuing her Journalism and mass communication degree. She has strong skill in curating and writing about crypto market. She is fascinated by blockchain and cryptocurrencies. In her free time, she researches extensively about cryptocurrency and it's use cases for public.

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