US-Based Tech Company Sheds Light Into Alleged Attack of its Crypto Wallet

Tech Startup Reveals Details Regarding Previous Attacks, Releases Various Updates

U.S.-based tech company Bitfi witnessed scrutiny following the launch of its hardware wallet and bounty program. After being implicated in a dispute on social media where several hackers and security professionals claimed they hacked the Bitfi wallet, the company has shed light into the event and has released a new model DMA-2.

These security professionals discovered a vulnerability wherein the private key remained in memory for some time which was not ideal, according to Bitfi.  The company has since made updates to clear memory instantaneously to meet the advertised claim that private keys do not exist on the device.

In an official statement, Bitfi officials mentioned:

“Unlike other wallets that store all private keys permanently, one of the core innovations of the Bitfi wallet is that it does not store private keys and instead calculates them at the time of transaction thereby dramatically…

Read Full Story : NewsBTC

2019-02-01 11:41:04

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