This Android app currently has more than 10000 downloads, a 4.0 stars rating from 195 users and the latest release is version 3.8.4.
We found these ways of contacting the developers:
- Website: pumapay.io/
- Twitter: @PumaPay
- Facebook: PumaPayOfficial
- LinkedIn: company/decentralized-vision
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The following Analysis is not a full code review! We plan to make code reviews available in the future but even then it will never be a stamp of approval but rather a list of incidents and questionable coding practice. Nasa sends probes to space that crash due to software bugs despite a huge budget and stringent scrutiny.
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.
This app has very little information on their website but in the Google Play description we read:
Please note: It is your sole responsibility to keep the 12-word seed phrase of the wallet in a safe place for you to be able to access it in the future. In this case, you will be required to restore the Private Key.
So this sounds like they claim to be non-custodial but we cannot see any source code which makes the app not verifiable.
Not verifiable: No Source Code found
This verdict means that we could not find any source to compile the app from. Internally the company might do everything right but as we can't verify it, there is nothing protecting the user from an exit-scam where the provider releases an app that leaks the keys to the servers.
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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