Our wallet review process
We examine wallets starting at the code level and continue all the way up to the finished app that lives on your device. Provided below is an outline of each of these steps along with security tips for you and general test results.
Application build test result
Update Verdict 2021-12-08
As the same provider to ECOMI’s mobile app where the seed phrases are displayed and not on the hardware device itself., Cool Wallet S requires pairing with a mobile app via Bluetooth. It is through the
Thus, in WalletScrutiny’s methodology, it fits the description of having leaky private keys:
the private key has to be brought onto a different system that doesn’t necessarily share all the desired aspects of a hardware wallet.
Previous Analysis 2021-08-28
This device, running weeks on a single charge connects to its companion app on
via Bluetooth. It features a display and a button to confirm actions.
Searching for the firmware, latest updates thereof and the source code, we find this FAQ question:
Which Operating System Is CoolWallet Using?
The core of CoolWallet is an ARM-based secure element. We developed the native card operating system with cryptocurrencies capability and enhanced security features.
which sounds like the firmware probably is closed source.d
As suspected though …
Why Is The Firmware Not Open Sourced?
We have ongoing Black-Box test teams working to perfecting our codes and we can provide source codes of the Micro-Controller-Unit code and the firmware. However, only the trusted members of the cryptocurrency communities and/or security industry are welcomed to evaluate and audit all of our code and libraries. Thus, if you are interested to see our code, please contact us at firstname.lastname@example.org for more details. *An NDA (Non-disclosure Agreement) will need to be signed between you and us. This is to ensure that the shared codes are used solely for personal review.
so as we do not claim or want to be the authority and keep all our analysis transparent, we have to stop here and conclude this product is not verifiable.
Do your own research
In addition to reading our analysis, it is important to do your own checks. Before transferring any bitcoin to your wallet, look up reviews for the wallet you want to use. They should be easy to find. If they aren't, that itself is a reason to be extra careful.