OneKey Founder Warns iPhone 11 and Older Models Could Put Crypto Wallets at Risk

Highlights:

• OneKey founder warns that older iPhones may expose crypto wallets to hardware-level security risks.
• Attackers with physical access may exploit hardware flaws on vulnerable iPhones, even when airplane mode is enabled.
• Yishi advises crypto holders to generate new seed phrases, use stronger passwords, and avoid unsafe chargers.

Crypto users storing their wallet recovery phrases on older iPhones could face security risks that software updates cannot fix. Security vulnerabilities affecting the iPhone 11 and earlier models may allow attackers to compromise devices through physical access. Even keeping these phones offline or in airplane mode may not provide enough protection.

In an October 31 post on X, OneKey founder Yishi Wang warned cryptocurrency holders against using older iPhones as cold wallets. He said some older iPhones contain hardware-level security flaws that remain vulnerable even after users install the latest available iOS updates.

Over the past two weeks iPhones have been publicly jailbroken more than once, and most people treated it as a bit of tech drama and scrolled on. I want to use it to talk about something that matters more to people in crypto: wiping an old iPhone, putting it in airplane mode and…

— Yishi (@ohyishi) October 31, 2026

Older iPhones Face Security Flaws That Updates Cannot Fix

According to Yishi, iPhone models from the iPhone 4S through the iPhone X are affected by a vulnerability known as checkm8, which became public in 2019. Another exploit, called usbliter8, was disclosed in June 2026. It affects the iPhone XS, XR, iPhone 11 series and second-generation iPhone SE.

Both vulnerabilities target BootROM, the code that runs when an iPhone starts. Because this code is built into the device’s chip, Apple cannot remove these flaws through regular software updates. An attacker could exploit these weaknesses by gaining physical access to a vulnerable phone and connecting specialized equipment through its USB port. The attack could allow unauthorized code to run before iOS fully starts.

Yishi explained that airplane mode cannot prevent such attacks because they do not require an internet connection. However, these vulnerabilities do not automatically give attackers access to cryptocurrency seed phrases.

Weak Passwords Could Put Crypto Wallets at Risk

Yishi said the iPhone’s passcode and Secure Enclave security system still provide protection, particularly on newer affected models such as the iPhone XS and iPhone 11. However, weak passwords and outdated software can increase the risk of a successful attack. For instance, a six-digit passcode has only one million possible combinations. Attackers may also target wallet applications protected by short passwords.

If criminals obtain an encrypted wallet file, weak encryption passwords could let them try repeated guesses outside the device. Yishi also warned about ChoiceJacking, a USB-based attack disclosed in 2025. It allows malicious charging equipment to manipulate phone prompts and potentially access data. Apple addressed the issue in iOS 18.4.

The warning follows recent iPhone security demonstrations. On October 16, security firm Calif demonstrated a jailbreak on an iPhone 18 Pro running iOS 27.0.1 at the Hexacon conference in Paris. The jailbreak remained active after the phone restarted. Apple later released iOS 27.2 on October 26 with additional security fixes.

How Crypto Users Can Protect Their Seed Phrases

Yishi advised cryptocurrency holders using an iPhone 11 or older model to move their wallets to a newer, more secure device. Users who have already stored recovery phrases on affected phones should generate entirely new seed phrases in a trusted environment and transfer their cryptocurrency to the new wallets.

Creating another wallet address using the same recovery phrase will not eliminate the potential risk. He also recommended using longer alphanumeric passcodes, updating iOS regularly and avoiding unknown charging cables or public USB ports.

Users holding large cryptocurrency amounts may also consider Apple’s Lockdown Mode for additional protection. Yishi said no public BootROM exploit of this type has been identified for the iPhone 12 or newer models. However, users should continue installing security updates and protecting their devices against unauthorized physical access.

Earlier security warnings also raised concerns about iPhone users storing cryptocurrency. In September, SlowMist warned that advanced iOS attacks could expose crypto wallet data. Later that month, Apple fixed a separate critical iOS vulnerability that could allow attackers to execute malicious code.

🚨 Apple has released an important security update for iOS/iPadOS 26.7.1, addressing CVE-2026-86950, an out-of-bounds write vulnerability that may lead to arbitrary code execution.

As we previously reported, this update is highly relevant to the iOS attack activity we have been… pic.twitter.com/7WZ2TrYWHU

— SlowMist (@SlowMist_Team) September 29, 2026