Bitfi refuses to pay hackers

The supposedly unbreakable wallet is hacked for the thousandth time since its launch; The process was carried out by two cyber security researchers; According to them, they were able to hack using a cold boot, thus exposing the prevention and security failures of the Bitfi device; by means of the attack the information of accounts of the users is exposed, from the private keys to the phrases of security, by means of this attack they could accede even without needing to modify the device.

The device has a two-layer security system to generate users 'secret phrases, then encrypts them and in turn protects users' funds.

image source: https://www.cryptoninjas.net/2018/06/14/bitfi-open-source-crypto-wallet-and-first-hardware-wallet-for-monero-xmr/

Researchers say that it is possible to extract both the phrase and the value of encryption to access private keys and subtract the capital with ease.

All this is happening through a rewards program offered by Bitfi, where they would give 250,000 US $ to those who manage to vilnerar the device; But the company has refused to pay the attackers and even came to threaten the hackers.

Bitfi would say that these attacks did not comply with the guidelines established in the rewards program, even though the hackers were able to steal the device funds.