OWNR Bitcoin wallet and Visa card. Blockchain, BTClatest release: 1.44.1 ( 26th December 2021 ) last analysed 31st May 2021 No source for current release found
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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.
The Analysis ¶
So this app claims to be a partner of Bitfinex, one of the biggest exchanges:
OWNR is an official partner of Bitfinex.
which surprised us as Bitfinex has their own app.
We asked them in this tweet and in the replies we indeed get a pointer to this post which convinces us that this app indeed is endorsed by Bitfinex. (If you have a better link, we would happily add it if it explains why they have two wallets.)
Maybe this is the non-custodial one?
- Restore HD-wallets with any seed phrase length (12/15/18/21/24 words)
- Only you sign the transactions and own your keys – we do no store them on our servers
- Your seed phrase is stored on your device only
They certainly do claim to be non-custodial but as we can’t find any source code, we remain with a verdict of 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.
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