BlueWallet Chief Technology Officer: Reviewed 494 iOS cryptocurrency wallets, of which 45 may pose serious security risks

According to Bitcoin News, the Chief Technology Officer of BlueWallet stated that they screened 904 iOS applications labeled as non-custodial cryptocurrency wallets in the App Store and analyzed 494 of them, ultimately marking 45 as potentially having serious or high-risk security issues, with 23 being of potential serious risk and 22 being high risk.

The issues mainly include suspected uploading of mnemonic phrases or private keys to servers, insufficient randomness in generated wallets, storing keys on the server side, using hard-coded encryption keys, and loading unsigned JavaScript code that can interact with sensitive wallet data. The Chief Technology Officer of BlueWallet cautioned that the analysis results may contain false positives, and applications not appearing on the list are not necessarily safe. When it comes to storing large amounts of Bitcoin, merely passing the App Store review and the application's reputation are not sufficient grounds to trust the software.