Exodus: Crypto Bitcoin Wallet

Published:

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This Android app was first launched on 6th June 2019 and currently has more than 100000 downloads, a 4.6 stars rating from 18942 users and the latest release is version 20.10.26.

Our last analysis was done on 12th October 2020 based on data found in their Google Play description and their website and their source repository. Our verdict was No source code found (details below).

We found these ways of contacting the developers:

Help spread awareness for build reproducibility

Please help us spread the word, asking Exodus: Crypto Bitcoin Wallet 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

This app certainly sounds like it is non-custodial:

Don’t give control of your private keys to centralized wallets and exchanges that can suffer from hacks and lose your funds. Exodus encrypts your private keys and transaction data on your device so that no one can access your cryptocurrency but you. You can also Enable Face or Touch ID to conveniently secure your wallet without having to type your passcode.

Can we find the source code though? …

No word about a repository on the description but the website links to this GitHub but there is no repository name suggesting there to be an Android wallet and as none of the company’s repositories contains the appId or at least GitHub can’t find it, we conclude that this app is closed source.

Update: We asked them about the source code but they confirmed: Exodus is and stays closed source.

Our verdict: This app is 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.