KeyCard🔍 Last analysed 23rd March 2022 . Bad Interface
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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 device is NFC-enabled
- It is paired with the Status.im mobile app
- The keys are generated via the app and then later on stored on the card.
- Secured with passcode, PUK code, pairing code, 12-word seedphrase.
A demo is available here:
Its affordability also allows for physical value transfer by passing it along other users:
Designed similar to a credit/debit card, Smartcards are an inexpensive, simple, and secure way to onboard new users.
This hardware device lacks a screen or a button, this device cannot provide basic security of hardware wallets.
The design of the device does not allow to verify what is being signed!
As part of our Methodology, we ask:
Can the user verify and approve transactions on the device?If the answer is "no", we mark it as "Bad Interface".
These are devices that might generate secure private key material, outside the reach of the provider but that do not have the means to let the user verify transactions on the device itself. This verdict includes screen-less smart cards or USB-dongles.
The wallet lacks either an output device such as a screen, an input device such as touch or physical buttons or both. In consequence, crucial elements of approving transactions is being delegated to other hardware such as a general purpose PC or phone which defeats the purpose of a hardware wallet.
Another consquence of a missing screen is that the user is faced with the dilemma of either not making a backup or having to pass the backup through an insecure device for display or storage.
The software of the device might be perfect but this device cannot be recommended due to this fundamental flaw.
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