BitKeep: DeFi WalletLatest release: 7.1.2 ( 17th June 2022 ) 🔍 Last analysed 1st October 2021 . No source for current release found
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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 ¶
(Analysis from Android review)
BitKeep is the largest multi-chain wallet, which can manage thousands of digital currencies, including Bitcoin, Ethereum, EOS, etc., is completely decentralized, no registration is required, one-click use, a set of mnemonic manages all assets, and the data is completely own management.
- Super Decentralized
No registration, one-click use. BitKeep as a window for you to know the blockchain. A set of mnemonics manages all digital currencies. The data comes from the blockchain. Just backup the mnemonics and your assets will never be lost.
could be read as “this wallet is non-custodial” but it’s not explicit. Maybe the website has more to say on that topic …
We are not sure what this claim actually does mean:
Investing tens of millions of dollars, original DESM encryption algorithm, industrial-grade encryption security, can double-check to ensure the security of your digital assets, even if a hacker invades your mobile phone, you cannot steal your assets.
As there is no source code to be found anywhere, this app is at best a non-custodial closed source wallet and as such not verifiable.
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 not, we tag it No Source!
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.
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