Exodus: Crypto Bitcoin Walletlatest release: 21.10.21 ( 21st October 2021 ) last analysed 12th October 2020 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 ¶
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.
Our verdict: This app 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.
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