BlueWallet's CTO reviewed 904 iOS apps labeled as non-custodial crypto wallets on the App Store, analyzed 494 of them, and flagged 45 as potentially carrying serious or high-risk security issues. The review identified 23 apps as potential serious risks and 22 as high-risk.
The reported issues include suspected uploading of seed phrases or private keys to servers, insufficient randomness in wallet generation, server-side key storage, hardcoded encryption keys, and unsigned JavaScript code capable of interacting with sensitive wallet data. BlueWallet's CTO cautioned that the findings may include false positives and that apps absent from the list are not necessarily secure, adding that App Store approval and app reputation alone are not enough for trusting software used to store large amounts of Bitcoin.
BlueWallet CTO Flags 45 iOS Crypto Wallets for Potential Security Risks
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