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DokWallet: Crypto Wallet

latest release: 1.55 ( 25th October 2021 ) last analysed  17th November 2021 No source for current release found 
4.5 ★★★★★
8
8th October 2020

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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)

App Description

  • RESTORE any existing ETH wallet
  • Easily MANAGE all your crypto assets
  • PAY IN CRYPTO simply by scanning a QR-code
  • STORE, RECEIVE, and EXCHANGE a wide variety of cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTD), as well as all other ERC20 tokens.

This app claims to be a non-custodial app that provides users with private keys.

It is your sole responsibility to keep your 12-word seed phrase in a safe place where you can access it in the future.

Terms

Moreover4u2 enables You to create one or more digital multi-signature, non-custodial, cryptocurrency wallets for certain supported cryptocurrencies and digital assets (the “Wallet”) that lets You store, send, request and receive supported cryptocurrencies and digital assets. All transactions requested and/or made through the Wallet are irreversible

Google Play Critical reviews

Praveen Panna
★☆☆☆☆ September 7, 2021
cant withdraw my assets occurring error please resolve this problem

Gregory Johnson
★☆☆☆☆ October 20, 2020
Can’t send Bitcoin out of wallet? App keeps crashing when I try to do so

Termination Clause

Section 8 of its Terms and Conditions state that:

Moreover4u2 may terminate these Terms or suspend Your access to the Services at any time, including, without limitation, in the event of Your alleged or actual misuse of the Services or breach of these Terms.

App

We downloaded the app and registered. We were then given the choices to “Create a Wallet” or “Import”. Choosing “Create a Wallet” displays a 12-word seed phrase.

We were able to import the wallet using the mnemonics.

Note: When installed on an Android Emulator, its tab name is ‘PumaPay’ which is the name of another wallet:

PumaPay Blockchain wallet - Buy Bitcoin & Crypto

This could hint at the app being a copy of a competitor’s product, which would at best be a licensed copy and at worst a fake wallet by hackers too lazy to code their own product.

Verdict

DokWallet does not refer to the project as an open-source project in its website or in any of its documentation. We also could not find any relevant or related code with the appID ‘com.dok.wallet’ on Github.

(dg)

Verdict Explained

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.

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.