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Bluehelix Wallet

Latest release: 1.3.4 ( 23rd October 2021 ) 🔍 Last analysed 16th March 2022 . Few users
5 ★★★★★
1 ratings
6th July 2021

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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.

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)

Update 2022-03-16: The provided code repository disappeared now, too.

Update 2022-01-15: This app is not on the Store anymore.

Update 2021-11-17: Despite this app having only few users, Emanuel looked into it and found the source code could not be compiled. The provider has not replied in two weeks.

NOTE: It is unclear what the connection is between this app and BHEX Development Defunct! . They have strikingly similar logos and titles, however both apps have different developers. While HBTC’s app is called BHEX Exchange and has been discontinued, this app claims to be a decentralized wallet.

App Description

Bluehelix Wallet is the first reliable decentralized cross-chain wallet, decentralized cross-chain asset safe custody, efficient and scalable consensus clearings, and a wide range of API support. It is the best wallet tool you can use to manage Bluehelix Chain assets.

The Site

On security:

Bluehelix Chain innovates three-layer node architecture, utilizes the distributed private key generation and signature mechanism to realize asset swaps crossing any chains with security, and the direct value swap of the same assets on different public chains can be realized via HDEX, OTC, Cross-chain deposit & withdrawal and other on-chain applications and functions.

The site lists Huobi, OKCoin, and Plum Ventures as “Investors & Ventures” on the homepage.

There is also a “Bluehelix Technical Function Manual” and we also find a guide on what “BHEX chain” is:

Bluehelix is the next generation decentralized custody and clearing technology. Based on decentralization and community consensus, it employs comprehensive technologies including cryptography and blockchain, supports decentralized governance through technology, and aims to effectively solve the security and trust problems faced by centralized digital assets platforms. Bhex Chain is the public blockchain on decentralized custody and settlement of digital assets based on Bluehelix technology.

From this information, it looks like apps that claim to be BHEX exchanges or wallets are simply using the technology provided by BHEX chain.

The App

We tested out the app and are immediately greeted by a Privacy Policy and Service Agreement screen. You are then allowed to create a new wallet or import an existing wallet with either a mnemonic phrase, a private key, or by importing KeyStore.

Creating a wallet

You are asked to set up a name for the wallet, as well as a password. Users are then presented with a backup mnemonic phrase for the new wallet and asked to verify that it had been backed up.

Users now have access to a wallet that appears to hold multiple cryptocurrencies, including HBC, BNB, BTC, DAI, DOGECOIN, and ETH. Users may backup or export mnemonics or private keys in the settings.

Verdict

This is a self-custodial app. The website has linked to a repository that is purportedly for the Bluehelix wallet. Searching for the Play Store ID yields some results in Github, however, with no build instructions, it is unsure if this is verifiable source code.

We await further information before we can make a verdict.

(dg, em, lw)

Verdict Explained

This product has too few users for now to be reviewed in detail.

As part of our Methodology, we ask:

Do many people use this product? If not, we tag it Few Users

We focus on products that have the biggest impact if things go wrong and this one probably doesn’t have many users according to data publicly available.