Single-bath potentiostatic-pulsed electrodeposition enables the synthesis of bicomponent (i.e., gold and nickel–nickel oxide) multi-segmented magnetic nanowires that, with extraordinarily low cytotoxicity, are ideal three-functional medical nanoplatforms because they can transport two types of functional molecules and be magnetically actuated for both controlled targeting and inducing cancer cell death. Alternated segments of Au and Ni–Ni oxide are selected to confer a magnetic character to the nanowires, prevent their dissolution in the cellular medium, and permit selective bio-functionalization with thiol and porphyrin test molecules. The bi-functionalized nanowires internalized in HeLa cancer cells, similar to other organelles, move inside the living cells. Applying the rotating magnetic fields cause them vibrate and increase their motion, although high viscosity and the presence of the cytoskeleton and other protein matrices preclude their rotation inside cells. Since no magneto-mechanical destruction of the HeLa cells occurs on their membranes, organelles, or cytoskeletons programmed cancer cell death is likely induced by the vibration and translation of the nanowires, not by mechanical destruction.