Researchers find tons of red flags in Bitfi’s ‘unhackable’ cryptocurrency wallet

Last week, John McAfee offered up $100,000 to anyone who could break into the Bitfi wallet – a device advertised as the world’s first completely “unhackable” cryptocurrency wallet.

Bitfi even asked that all attempts be made public. An ad-hoc collective of hackers and security researchers is doing just that, already finding a bunch of kinks that throw the device’s security into question.

While nobody has managed to claim the $100,000 reward for stealing the $50 worth of cryptocurrencies inside, the squad have torn it apart. Ryan Castellucci, software engineer and hardware hacker commented that Bitfi appears to be exactly what it seems to be from its marketing photos – a cheap stripped down Android phone.

Bitfi appears to be exactly what it looks like from the photos – a cheap stripped down Android phone. There’s some screenshots of it demanding to be connected to WiFi in order to function elsewhere in @cybergibbons’s feed. Someone…