Eccentric cybersecurity pioneer John McAfee has recently promoted an “unhackable” cryptocurrency hardware wallet, along with global payments technology company Bitfi. The wallet reportedly supports various cryptocurrencies, including privacy-centric Monero (XMR).

A press release published by Bitfi and recently shared by John McAfee to his over 800,000 Twitter followers claims that the company’s new product, Bitfi Wallet, is “the first unhackable, open source hardware wallet with an accompanying dashboard.”

It details that an initial introduction to insiders in the blockchain space was made, and that McAfee acknowledged the wallet “is indeed unhackable.” The eccentric cybersecurity pioneer reportedly joined the company’s team after this. He was quoted as saying:

Of all today’s elaborate and sophisticated methods for making wallets secure and easy to use, surely none is as epic as that of the new Bitfi wallet. Several of my competitors have pioneered innovative methods to protect private keys, but Bitfi pulled out all the stops to ensure that the private key can never be obtained by illicit means. No other hardware wallet has ever been built to this level of sophistication.

John McAfee

The company notably claims the wallet is safer “than any other type of storage,” including cold storage. Its users will be able to enjoy its security without having any technical skills, or having to download or install anything. Per the release, all they’ll need is a wireless connection, and the wallet will automatically receive the latest software updates, the press release claims.

Moreover, it adds that users won’t have to deal with a 24-word mnemonic phrase, but will instead be able to create a phrase of their own. This key is reportedly never stored anywhere, which means “Bitfi Wallet cannot be tampered with.”

The company’s co-founder, Daniel Khesin, was quoted as saying:

Early prototypes so astonished various users (like John McAfee) who share our passion for cryptocurrency that, through simple word of mouth, many crypto enthusiasts were soon clamoring for a Bitfi wallet of their own. This demand led to our formation and the filing of numerous patents for over two dozen breakthrough features.

Daniel Khesin

Too Good To Be True?

There are records of Bitfi’s hardware wallet being announced without John McAfee’s sponsorship out there. A version of the announcement with the cybersecurity expert’s endorsement only recently started circulating.

This could be, however, because John McAfee was recently spiked and left for dead, but managed to recover. The company’s claim, per various Reddit users, seem to be too good to be true for a wallet that’s set to sell for $120.

Whois records show Bitfi’s domain was registered back in 2008. It claims to be a “global payments technology company,” but a simple Google search seems to show this is the first product the company offers. Even searching for its co-founder seems to only show results from this month.