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iWallet - blockchain wallet for Bitcoin, Ethereum

latest release: 0.0068beta last analysed  30th December 2019
No source code found
0.0 ★★★★★
5thousand
27th September 2018

Published:

Our last analysis is based on data found in their Play Store description and their website.
details below 

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.

If you find something we should include, you can create an issue or edit this analysis yourself and create a merge request for your changes.

The Analysis

In their description we read:

You, as owner of wallet, fully control the private key:

  • “iWallet”does not store info about users, data about private keys, or funds on servers.
  • Private keys are stored on your device.

so they are non-custodial.

The following is their website in its entirety:

InSense this website is under construction

So, trusting their claim from the Play Store, not finding any further data to verify it, we remain with the verdict: not verifiable.

(lw)

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.