Tizer WalletLatest release: 2.08.9 ( 9th March 2022 ) 🔍 Last analysed 15th November 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 ¶
In the description, the app claims that users have “ultimate security and control” of their assets.
We use threshold signatures, Private key distribution and Paillier encryption. It means only you have access to your funds. Compatibility with BIP-protocols allows full restore using seed-phrase.
Tizer Wallet also states that it is a
powerful multicoin wallet, designed to easily buy, sell and trade crypto in one smart App.
Terms and Conditions
From the Service Agreement page, Termination:
You agree and understand that Tizer reserves the right, in our sole discretion, to immediately suspend, freeze, or terminate your User Account or any Wallet in the event that you are suspected of having violated any provision of this User Agreement, believed to be in violation of Applicable Law, or are believed to be involved in activities or conduct detrimental to Tizer.
Additionally, from Discontinuance:
We may, in our sole discretion and without cost to you, with or without prior notice, and at any time, modify or discontinue, temporarily or permanently, any portion of our Services. You solely are responsible for storing outside of the Services a backup of your mnemonic phrase and private keys associated with your Tizer Wallet which will allow you to access your digital assets. This backup will allow you to fully restore your Wallet at any time without cost or loss of digital assets.
We tried the app. We were given the option to backup our account and were provided with a 12 word mnemonic.
After confirming that the user has written the words down, we are allowed to either save it on the device, remove the mnemonic, or send the mnemonic to the server. Currently, the last option is unavailable.
This app is non-custodial, but with no source to back it up, it is 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.
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