Multi Crypto Wallet: for Bitcoin and 20 currencieslatest release: 3.0 ( 23rd February 2021 ) last analysed 10th April 2021 No source for current release found
Do your own research!
Try out searching for "lost bitcoins", "stole my money" or "scammers" together with the wallet's name, even if you think the wallet is generally trustworthy. For all the bigger wallets you will find accusations. Make sure you understand why they were made and if you are comfortable with the provider's reaction.
The Analysis ¶
This app has a rather special description that looks more like a dictionary so I’m not 100% sure if they claim the app to have those features but lets assume they do:
A multicryptocurrency wallet is a device, physical medium, program or a service which stores the public and/or private keys and can be used to track ownership, receive or spend cryptocurrencies.
A mnemonic sentence is considered secure. The BIP-39 standard creates a 512 bit seed from any given mnemonic. The set of possible wallets is 2. Every passphrase leads to a valid wallet. If the wallet was not previously used it will be empty.
So it is a BIP39 (self custodial) Bitcoin wallet.
This app has no website with further claims or a link to source code.
The only two reviews are:
★★★★★ 3 June 2020
Best and excellent app to download. Only this app. Rush and download
★☆☆☆☆ 14 March 2021
Tried to deposit some coins and so far nothing has come through even though it’s already confirmed on the blockchain… Careful might be a scam
I tend to trust Ricardo more than Frank or the provider in this case and suggest to not trust this app without further investigations.
Without further information we have to file it as closed source and therefore not verifiable.
Without public source of the reviewed release available, this product cannot be verified!
As part of our Methodology, we ask:Is the source code publicly available? If not, we tag it No Source!
A wallet that claims to not give the provider the means to steal the users’ funds might actually be lying. In the spirit of “Don’t trust - verify!” you don’t want to take the provider at his word, but trust that people hunting for fame and bug bounties could actually find flaws and back-doors in the wallet so the provider doesn’t dare to put these in.
Back-doors and flaws are frequently found in closed source products but some remain hidden for years. And even in open source security software there might be catastrophic flaws undiscovered for years.
An evil wallet provider would certainly prefer not to publish the code, as hiding it makes audits orders of magnitude harder.
For your security, you thus want the code to be available for review.
If the wallet provider doesn’t share up to date code, our analysis stops there as the wallet could steal your funds at any time, and there is no protection except the provider’s word.
“Up to date” strictly means that any instance of the product being updated without the source code being updated counts as closed source. This puts the burden on the provider to always first release the source code before releasing the product’s update. This paragraph is a clarification to our rules following a little poll.
We are not concerned about the license as long as it allows us to perform our analysis. For a security audit, it is not necessary that the provider allows others to use their code for a competing wallet.
Share onTwitter Facebook LinkedIn
Or embed a widget in your website
<iframe src="https://walletscrutiny.com/widget/#appId=android/appinventor.ai_oldgoldmen.CryptoWallet&theme=auto&style=short" name="_ts" style="min-width:180px;border:0;border-radius:10px;max-width:280px;min-height:30px;"> </iframe>
<iframe src="https://walletscrutiny.com/widget/#appId=android/appinventor.ai_oldgoldmen.CryptoWallet&theme=auto&style=long" style="max-width:100%;width:342px;border:0;border-radius:10px;min-height:290px;"> </iframe>