Wallet Logo

Haru Invest - Earn Bitcoin

latest release: 1.2.0 ( 7th October 2021 ) last analysed  11th November 2021 Custodial: The provider holds the keys 
4.8 ★★★★★
19th August 2021

Jump to verdict 

Help spread awareness for build reproducibility

Please help us spread the word discussing the risks of centralized custodians with Haru Invest - Earn Bitcoin  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 

(Analysis from Android review)

App Description

High earn rates, no hidden fees, secure - Haru Invest is the perfect place to earn crypto effortlessly.

High earn rates - Receive up to 15% APR on your Bitcoin, Ethereum and USDT by simply locking up your crypto

Safe and secure - Security is not an issue with us. We are proud of our zero breach record. We are protected by BitGo and we comply with KYC/AML regulations.


From an article on HaruBank’s official Medium blog:

HaruBank collaborates with BitGo to ensure the security of crypto asset

HaruBank team is delighted to announce our collaboration with BitGo. As one of the most trusted crypto custodian, BitGo will be providing HaruBank with business wallet service. Here are some of the highlights of the collaboration:

  • BitGo wallets provide multi-signature security, multi-user policy controls, and the most advanced security configurations that conform to the most rigorous industry standards.
  • HaruBank is protected by BitGo’s multi-sig wallet technology combined with the data cross-check process.

The App

We downloaded the app and were able to get to email confirmation. Identity Verification is required before you can withdraw or deposit Bitcoins. We were not able to locate backup and restore functions.


This service is a custodial app that cannot be verified.


Verdict Explained

As the provider of this product holds the keys, verifiability of the product is not relevant to the security of the funds!

As part of our Methodology, we ask:

Is the product self-custodial? If not, we tag it Custodial! 

A custodial service is a service where the funds are held by a third party like the provider. The custodial service can at any point steal all the funds of all the users at their discretion. Our investigations stop there.

Some services might claim their setup is super secure, that they don’t actually have access to the funds, or that the access is shared between multiple parties. For our evaluation of it being a wallet, these details are irrelevant. They might be a trustworthy Bitcoin bank and they might be a better fit for certain users than being your own bank but our investigation still stops there as we are only interested in wallets.

Products that claim to be non-custodial but feature custodial accounts without very clearly marking those as custodial are also considered “custodial” as a whole to avoid misguiding users that follow our assessment.

This verdict means that the provider might or might not publish source code and maybe it is even possible to reproduce the build from the source code but as it is custodial, the provider already has control over the funds, so it is not a wallet where you would be in exclusive control of your funds.

We have to acknowledge that a huge majority of Bitcoiners are currently using custodial Bitcoin banks. If you do, please:

  • Do your own research if the provider is trust-worthy!
  • Check if you know at least enough about them so you can sue them when you have to!
  • Check if the provider is under a jurisdiction that will allow them to release your funds when you need them?
  • Check if the provider is taking security measures proportional to the amount of funds secured? If they have a million users and don’t use cold storage, that hot wallet is a million times more valuable for hackers to attack. A million times more effort will be taken by hackers to infiltrate their security systems.
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.