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Huobi Wallet - Safe & Reliable

latest release: 2.7.3 last analysed  20th April 2021
No source code found
4.6 ★★★★★
29th September 2018

Published:

Our last analysis is based on data found in their App Store description.
details below 

Help spread awareness for build reproducibility

Please help us spread the word, asking Huobi Wallet - Safe & Reliable to support reproducible builds  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

From the description on the App Store the wallet provider clearly states the private keys are in control of the user:

Huobi Wallet users have sole control over their own private keys and thus have full control over their assets. There are no third parties involved in management of private keys.

However the non-custodial claims of the provider cannot be verified as no source code is available.

Our verdict: This ‘wallet’ is possibly non-custodial but does not provide public source and therefore is not verifiable.

(ml, lw)

Verdict Explained

No source code found

Without public source available, this app cannot be verified!

This verdict means that we could not find any source to compile the app from. Internally the company might do everything right but as we can't verify it, there is nothing protecting the user from an exit-scam where the provider releases an app that leaks the keys to the servers.

The app 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 app 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.