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Keypal Plus

🔍 Last analysed 2nd February 2023 . No source for current release found
6th December 2022

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 the answer is "no", we mark it as "No source for current release found".

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. You should still prefer actual open source licenses as a competing wallet won’t use the code without giving it careful scrutiny.

The product 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 product 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.

Help spread awareness for build reproducibility

Please help us spread the word discussing transparency with Keypal Plus  via their Twitter!

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 

Product Description

The Keypal Plus is slightly heavier at 63 grams compared to the Keypal No Source! which is at 53 grams. It’s also thicker at 9 mm compared to the previous model’s 6.7 mm.

Interestingly, there is no price difference between the two.

The pre-sale was announced on twitter on December 1, 2022.

Like the Keypal, the Plus has a 2-inch LCD color display. It can connect to a mobile app using Bluetooth or to a desktop using a USB Type-C cable. It references TokenPocket Wallet Crypto DeFi Obfuscated! a lot in its material. The MyTokenPocket website also links to the KeyPal.

MyTokenPocket is the companion app for this device. Documentation Source:


  • The private keys can be created offline.
  • The device has an LCD screen which can allow the user to confirm transactions.
  • Despite having a GitHub organization account, we find no repositories pertaining to the firmware.
  • The device is paired with the MyTokenPocket mobile app using BlueTooth:

The KeyPal hardware wallet communicates with the companion app via dual-channel Bluetooth and USB. In the process of Bluetooth communication, the link layer will not transmit any sensitive privacy data, preventing any sensitive data from being intercepted through Bluetooth communication. Source

Like the Keypal No Source! this device does not have its firmware available for scrutiny.