TLDR
- OneKey founder Yishi warned on November 1, 2026, that iPhone 11 series and older models have hardware flaws that software updates cannot fix.
- The flaws are in the BootROM. The checkm8 exploit affects the iPhone 4S through X, and usbliter8, disclosed in June 2026, affects the XS, XR, 11 series and SE 2.
- An attacker needs physical access and a specialized USB tool, and the attack leaves no trace.
- Yishi advised affected users to create new seed phrases on secure devices and move their assets.
- He also suggested strong alphanumeric passcodes, Lockdown Mode and avoiding public USB ports.
OneKey founder Yishi warned on November 1, 2026, that older iPhones carry hardware flaws that cannot be fixed. He said the flaws could put crypto seed phrases at risk.
⚠️ALARMING: Using an OLD iPhone as a cold wallet may not be as safe as you think, OneKey founder Yishi Wang warns.
Following several public iPhone jailbreak demos over the past two weeks, he highlighted a risk for crypto holders.
Wiping the device and enabling airplane mode… pic.twitter.com/ZNaXIQ408C
— Coin Bureau (@coinbureau) November 1, 2026
The warning covers the iPhone 11 series and earlier models. Apple cannot fix the problem with a software update.
What the flaws are
The flaws sit in the BootROM, the first code that runs when an iPhone turns on. It is etched into the chip itself.
Two exploits are involved. The first, called checkm8, affects iPhones from the 4S through the X and has been public since 2019.
The second, called usbliter8, was disclosed in June 2026. It affects the iPhone XS, XR, 11 series and second-generation iPhone SE.
Because the flaws load before iOS starts, the phone’s software defenses never get a chance to act. An attacker could run code at that early stage.
How an attack works
An attacker would need physical access to the phone. That access does not have to last long.
The method involves putting the phone into DFU mode and connecting a specialized USB tool. DFU stands for Device Firmware Update, a low-level recovery state.
According to Yishi, the attack leaves no trace. An owner could get the phone back without knowing anything happened.
The passcode and the Secure Enclave still act as barriers. Weak passwords or outdated wallet apps raise the risk.
A second report said wiping a phone and turning on airplane mode does not help against a physical attack. Those steps only block network threats.
The risk is higher if the phone is lost, stolen or seized. It is also higher if someone buys a used iPhone that may have been tampered with.
Yishi advised affected users to create new seed phrases on secure devices and move their assets. Making new addresses from the old phrase is not enough.
A seed phrase is the master key for every address in a wallet. New addresses from an exposed phrase still trace back to the same key.
He also suggested strong alphanumeric passcodes and Lockdown Mode, Apple’s hardened security setting. He urged users to avoid public USB ports.
The report said an iPhone 12 or newer is a better choice for cold storage. A dedicated hardware wallet with a metal seed backup remains the preferred option.
Yishi issued the warning on November 1, 2026, and it applies to the iPhone 11 series and all earlier models.
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