Cake Walletlatest release: 4.1.2 last analysed 7th February 2021
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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.
Cake Wallet allows you to safely store, send receive and exchange your XMR / Monero and BTC / Bitcoin.
is an implicit claim of this being a non-custodial Bitcoin wallet but:
-You control your own seed and keys
is more explicit about the non-custodial part.
On their website we read:
and indeed, there is a source code repo.
There is no claim about reproducibility or build instructions. As the app uses Flutter and we have no experience with that, we have to stop here. Usually at this point we open issues on the code repository but they have no public issue tracker.
The app provider also shares code but we could so far not verify that the published code matches the published app!
This verdict means that the provider did share some source code but that we could not verify that this source code matches the released app. This might be due to the source being released later than the app or due to the provided instructions on how to compile the app not being sufficient or due to the provider excluding parts from the public source code. In any case, the result is a discrepancy between the app we can create and the app we can find on GooglePlay and any discrepancy might leak your backup to the server on purpose or by accident.
As we cannot verify that the source provided is the source the app was compiled from, this category is only slightly better than closed source but for now we have hope projects come around and fix verifiability issues.
The app cannot be independently verified. If the provider puts your funds at risk on purpose or by accident, you will probably not know about the issue before people start losing money. If the provider is more criminally inclined he might have collected all the backups of all the wallets, ready to be emptied at the press of a button. The app might have a formidable track record but out of distress or change in management turns out to be evil from some point on, with nobody outside ever knowing before it is too late.
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