Opendime🔍 Last analysed 23rd March 2022 . Leaks Keys
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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.
What is a bearer token?
Bearer tokens are meant to be passed on from one user to another similar to cash or a banking check. Unlike hardware wallets, this comes with an enormous "supply chain" risk if the token gets handed from user to user anonymously - all bearer past and present have plausible deniability if the funds move. We used to categorize bearer tokens as hardware wallets, but decided that they deserved an altogether different category. Generally, bearer tokens have these attributes:
- secure initial setup
- tamper evidence
- balance check without revealing private keys
- small size
- low unit price
- either of ...
- somebody has a backup and needs to be trusted
- nobody has a backup and funds are destroyed if the token is lost/damaged
The Analysis ¶
To spend the funds, the private keys need to get exposed to potentially insecure systems. A virus on that system could empty the wallet the second the device gets plugged into the USB port.
This product requires sharing private key material!
As part of our Methodology, we ask:Does the device hide your keys from other devices? If not, we tag it Leaks Keys!
Some people claim their paper wallet is a hardware wallet. Others use RFID chips with the private keys on them. A very crucial drawback of those systems is that in order to send a transaction, the private key has to be brought onto a different system that doesn’t necessarily share all the desired aspects of a hardware wallet.
Paper wallets need to be printed, exposing the keys to the PC and the printer even before sending funds to it.
Simple RFID based devices can’t sign transactions - they share the keys with whoever asked to use them for whatever they please.
There are even products that are perfectly capable of working in an air-gapped fashion but they still expose the keys to connected devices.
This verdict is reserved for key leakage under normal operation and does not apply to devices where a hack is known to be possible with special hardware.
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