Paytomat Wallet: Bitcoin, Ethereum, EOS, tokensLatest release: 1.37.2 ( 1st February 2021 ) 🔍 Last analysed 28th January 2022 . No source for current release found Not updated in a while
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Please help us spread the word discussing transparency with Paytomat Wallet: Bitcoin, Ethereum, EOS, tokens via their Twitter!
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 gets straight to the point:
The wallet is non-custodial, meaning the private keys never leave the secure storage of your phone.
but can we verify this?
On their website we find a link to their GitHub but none of
- wallet-connect-android Binance implementation of Wallet Connect protocol as kotlin library
- ScatterKit ScatterKit allows communication between Swift applications and web pages that use Scatter plugin
- Paytomat-iOS-SDK Send transactions and get account information via Paytomat Wallet
- Paytomat-Android-SDK Send transactions and get account information via Paytomat Wallet
- paytomat-api Docs for various Paytomat APIs
sounds like an actual Wallet.
Searching GitHub for their app id yields 401 results which we should not be tasked to look through one by one.
So for now we assume it is closed source and come to the verdict: 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. You should still prefer actual open source licenses as a competing wallet won’t use the code without giving it careful scrutiny.
But we also ask:Was the product updated during the last year? If not, we tag it Stale!
Bitcoin wallets are complex products and Bitcoin is a new, advancing technolgy. Projects that don’t get updated in a year are probably not well maintained.
This verdict may not get applied if the provider is active and expresses good reasons for not updating the product.
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