Cryptocurrency wallet Bitfi, developed by a team of GT Capital Investments founder John McAfee, was "converted cheap Android smartphone". This was reported by software developer Ryan Castellucci.
Hackers began to carefully study the device after the promised reward of $100 thousand for his hacking.
So, they examined the list of directories loaded into the internal memory of the device at the time of switching on, and found a set of malicious tools Adups FOTA. Their concerns were caused by the fact that every 72 hours the device sends information about text messages, calls, location and application data to a server in China.
Also, the device is pre-installed Chinese application Baidu with built-in tracking functionality Wi-Fi and GPS. The device does not have internal cold storage, and all user funds remain on the hot wallet.
John McAfee himself confirmed that the so-called" wallet " is a telephone-like device.
"There is no internal storage. The wallet receives instructions for each coin from our server," he wrote on Twitter.
The researchers summarize that the Bitti wallet is no different from any other cryptocurrency storage solution on the network, as its security comes down to the ability to transfer private keys and seed phrases.
It is noteworthy that all this information hackers received with the help of a free tool SP Flash Tool that reads Data from MediaTek chipsets.
"The device is in read-only mode, i.e. the data on it cannot be overwritten. So all the spyware was probably downloaded at the time of release," they suggested.
Hackers intend to continue " dry " testing of the Bitfi device, scanning its contents.
Recall, the Cost of the bitfi wallet is $120.
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