On November 1, 2026, Yishi, the founder of OneKey, issued a stark warning to cryptocurrency holders using older iPhones, particularly the iPhone 11 series and earlier models. He highlighted that these devices have critical hardware flaws that cannot be patched through software updates, potentially endangering users’ cryptocurrency seed phrases.
The vulnerabilities reside in the BootROM, the foundational code that runs when an iPhone powers on. This code is hardwired into the chip itself, making it impervious to software fixes. Yishi pointed out two significant exploits: the checkm8 vulnerability, which affects models from iPhone 4S to iPhone X, and the recently disclosed usbliter8, which targets the XS, XR, 11 series, and second-generation iPhone SE.
These vulnerabilities could allow an attacker with physical access to the device to execute malicious code without leaving any trace. According to Yishi, the attack process involves putting the phone into Device Firmware Update (DFU) mode and using a specialized USB tool. Notably, this method requires only brief physical access to the device.
Users are at heightened risk if their device is lost, stolen, or seized, as well as when purchasing used iPhones, which may have been previously compromised. Yishi cautioned that simply wiping the device or enabling airplane mode does not mitigate the threat posed by physical attacks; these measures only protect against network-based threats.
Yishi’s advice for those with affected devices is clear: create new seed phrases on secure devices and transfer assets immediately. Creating new addresses from an existing seed phrase won’t suffice, as all derived addresses can still be traced back to the original compromised seed phrase.
To bolster security, he recommended using strong alphanumeric passcodes, activating Lockdown Mode—a robust security setting available on newer Apple devices—and steering clear of public USB ports. In light of these revelations, Yishi concluded that the iPhone 12 and newer models are much safer for storing cryptocurrency, though he emphasized that dedicated hardware wallets with metal seed backups remain the gold standard for securing digital assets.
The implications of this warning are significant for the crypto community, especially for those relying on older smartphone models for managing their digital wealth. With the rapid evolution of technology, ensuring the safety of one’s crypto assets must remain a top priority.
