Topic: BEWARE OF IMTOKEN 2.0 BITCOIN WALLET. (Read 338 times)

That is strange if you cannot see your balance in your mycelium because as far as I know, the balance will automatically show in the new wallet after we enter the private keys.

I never used imtoken before, and I only use mew to store some of the token based on the ethereum network, and I use the other bitcoin wallet. If you found that imtoken have bugs and the team still trying to fix the problem, then I think they will fix that, but that's only if they are serious about doing that. I think perhaps you need hardware wallet like Ledger Nano to save your bitcoin and altcoin and tokens.

I installed this wallet to play a game called hyperdragons. It has its own currency called DTS. In order to play on my tablet, I needed a compatible wallet. On pc I used MEW.
I backed up my phase with the IMTOKEN wallet but I had no idea that I might not be able to restore it with another wallet. I was ikpressed with the wallet, its nice. But now I worry.
Thankfully I don not keep much in it, I only keep gaming funds and 721 tokens for in-game items etc.

Well, Mycelium is a Segwit wallet, and I stated it above in my post that I successfully imported there but didn't display my fund. And I stated above too that I contacted Imtoken team and they replied that they are working on the compatibility issue. Nevertheless, you can import to another Imtoken wallet.  I didn't conclude them as a scam wallet, for Christ sake, I use their etheruem ERC20 wallets till date, I am only raising an alarm which is a healthy thing to do.

Maybe the path derivation path was not really supported in your part and the path to your wallet was not compatible, Maybe if you have tried in a wallet that is Segwit supported may be the outcome may change, But if you already move it to an unsupported wallet then I guess you need to contact that wallet or IMTOKEN about this problem before you have reported this as a scam,

I'm using imToken but I never heard there was a wallet for bitcoin because mostly what they offer is all about ERC20 tokens not alone for bitcoin. Maybe I haven't updated yet or Google PlayStore hasn't reminded me for an update.

Once they let users update their version to 2.0 but I hadn't as it is still good if you don't and right now I can still access my tokens and still I have the mnemonics of the previous version of it. Well, I will be worried or not for updating it to 2.0?

i didn't say you moved bitcoin-cash. that was just an example of a very common case where people receive an altcoin thinking it is bitcoin and try sending it to a "bitcoin wallet they later create" and that is the time they get confused why their coins aren't getting to their destination.

in any case, if it was actually bitcoin you received, can you share with us the 2 transaction IDs: the one you that received coins and the one that you sent to your other wallet.

Thank you for the information, yesterday I had time to use IMTOKEN 2.0 BITCOIN WALLET, but I never made a transaction, I was just stand by to check my token and my bitcoin balance, because this information so I would be very careful and decided not to use it, so this information is very useful ...

With all due respect, I sent the bitcoin there myself and that nothing to do with bitcoincash. Did you take out time to read where I said I have moved the fund to another wallet? Please let's always reply within the purview of the matter discussed. Thanks.

I agree with Mjglqw, the problem is on the wallet that you've used to import which is the blockchain wallet they announced few years ago that segwit would be added but they haven't added support for it since then. I made a imtoken wallet and used a different wallet that lets you import different type of segwit address like electrum and i've got the same receiving address.

On electrum you can import it directly as they have an option to import bip39 seeds

IMtoken uses HD wallet, You should be able to sweep private keys from mnemonics. https://github.com/OmniLayer/omniwallet/wiki/Recovering-Funds-from-imToken-wallets
You can use this (https://iancoleman.io/bip39/) wonderful tool to get private keys or use any wallet with BIP49.

I just tried IMtoken seeds on tool above and it worked!

first make sure that what you have is actually "bitcoin" and not something else that someone sold you in the name of bitcoin but in fact were a shitcoin with the word "bitcoin" in its name.
for example they have been selling "bitcoin cash" which is a shitcoin as bitcoin to a lot of newbies for 2 years now.
in your case it seems like you have bought a token that had the name  "bitcoin" in it which is why you don't see your balance anywhere else.

I think you took a good move to secure your fund. I have been using imtoken for a while now but haven't had any issues with them although I don't keep my btc there, just ETH and Eos but if your complaint is true then I will have to take another look at it

I'm not going to comment on IMTOKEN's reputation and security, because it's honestly my first time to come across that wallet.

But, it's probably not that you don't have control over your funds. Your balance didn't appear on the blockchain.com wallet and Mycelium wallet probably just because IMTOKEN uses a different derivation path as most wallets(like Mycelium). I'm not sure though; probably a good move that you immediately moved out your funds, just to be completely sure.

It's very important we have our bitcoin wallet private keys. Not every wallet provider offers this. With your private keys, you can always choose to import your fund to any wallet and recover your fund, should anything happens to your present wallet.

Imtoken is a popular Ethereum ERC20 wallet service provider which is available in android and IOS version respectively for downloads. They have a version 2.0 which support bitcoin segwit address and you equally have access to the bitcoin private keys otherwise known as Mnemonic phrase in Imtotoken, some time ago when, when I couldn't adjust my bitcoin fee in the imtoken wallet of the IOS version, because they had upgraded off the auto fee settings, I reported the issue to them, and they promise to fix it. I opened a thread for it here: https://bitcointalksearch.org/topic/m.51031268. In a bid to bypass their expensive fees, I imported my imtoken bitcoin wallet to blockchain .com and Mycelium wallets respectively, even though it showed successful importation, but my bitcoin balance never showed up in my new wallet. I raised the alarm and they replied to me they were going to work on it to be compatible with other wallets. It was at this point it dawn on me that I was not in control of my fund. Should anything happen to Imtoken bitcoin wallet. I had to quickly transfer off my bitcoin to other better wallet provider regardless of the fee incurred from Imtoken.

Other of my friends complained about the same experience and they have all move their fund away to a better wallet.
As I report this shady activities of Imtoken team, I can't tell if they have now work on their loophole.

We must check to ensure we are always successful in importing our bitcoin wallet to avoid loss of fund when such service providers stop functioning. I want to hear your thought about this.