ShapeShift Buy & Trade Bitcoin & Top Crypto Assets

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This Android app currently has more than 100000 downloads, a 3.1 stars rating from 1826 users and the latest release is version 2.8.0.

Our last analysis was done on 17th November 2020 based on data found in their Google Play description and their website. Our verdict was No source code found (details below).

We found these ways of contacting the developers:

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Please help us spread the word, asking ShapeShift Buy & Trade Bitcoin & Top Crypto Assets to support reproducible builds 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

ShapeShift is best known for their non-custodial exchange but this app appears to be a wallet:

STORE YOUR CRYPTO IN A SECURE WALLET Setup a ShapeShift multi-chain wallet in seconds to store your crypto.

… and non-custodial:

ShapeShift makes self-custody easy, never holding your coins, so you have complete control over your assets.

but is their code public? On Google Play we see no such claim.

On the referenced website there is no link back to the app on Android.

And clicking around on their website the app is nowhere to be found … unless … the page behind Learn -> Bitcoin is what we are looking for … oh, no, Introducing: The ShapeShift Mobile App is only a link to this page which again has no link to Google Play? Only a link to this invite page which asks for your email address to get the app? Seriously? Here we give up our search for source code or more information on their website. As on GitHub we can’t find the appId neither, we conclude the app is closed source and thus not verifiable.

Verdict Explained

No source code found Without public source available, this app cannot be verified!

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.