Wait a minute, I don't even get/understand the actual description of the application. The actual name says walletconnect - crypto wallet, but the description below talks about Solving equations, complex calculations, engineering, students, etc. How does that even make any sense in the first place.
This would be some red flag for me and and latest a reason to look deeper. Frankly, I wouldn't install any wallet app for more than little pocket money that is closed-source, if at all.
You see, recently, I have began to have doubts about all the applications that are available on play store. I will personally like to know all the criteria that must be met before an application can be available for download on play store, because from the look of things, it seems Google play don't make a complete/thorough review on most applications that are submitted to them.
You can subscribe as a devoloper for apps for Google Play Store to my knowledge for free (contrary to Apple, not saying that Apple does it better) but at least you need to provide a payment method. You can see for yourself what is required to publish an app on Google Play Store. Google documents it not too badly.
Don't be naive, Google doesn't pay lots of qualified programmers to inspect mobile apps. It's mostly an automated scanning process to look for shady bits and pieces; behavioral analysis in sandboxes and likely they throw some machine learning at it, too. Possibly some gross outliers or when too many indicators have been triggered, some first wave of poorly paid people inspect the shit that's been detected. Devs are likely tortured with template style automated responses. But what do I know, I'm no app developer, heard it from "friends" or actual devs who struggled with some automated Google Store review decisions and made them public.
The sheer volume of app publications prevents thorough testing and analysis behind the Store's curtains. Where should the money come from to pay an IT unicorn garden? They need their money to have their balls gilded. Shady apps? Who cares. Does it bring revenue? Yay, keep it until shit hits the fan! None of it? User's faults!
Just imagine people lossing over $70K to what isn't literally their fault, because majority of us have trusted Google play to the extent that we can just download freely without first checking for user ratings and reviews.
Don't you think that is kinda dumb from the beginning! I would always ask the question how could an app possibly earn money, because programming an app and publishing it and maintaining it doesn't come for free. So a bit more due dilligence from us users is highly advisible and necessary. Don't play the clueless sheep when wolves are around you.
And please, who is so stupid to put high five-figure $$$ value in a mobile app, possibly even a closed-source one? Don't need to be a clairvoyant to figure out this is a recipe for desaster.
We are not even talking about someone downloading an application from an unknown source or random website, but we are talking about someone downloading from one of the most (if not the most) popular app store in the world. I think If such case persist, then they might be invited by to the US senate to give some explanation.
In crypto coin space some sayings have a purpose: don't trust, verify! I think you overestimate the interest and competence of the US senate. There is more important evil at Google, Apple, Meta and whatnot other mega companies that the US senate should take care of. But they mostly don't care anyway... too busy, to throw shit at each other...
I can't lie, I do not use any app on my phone which are related to Crypto. This is very scary that most of the Crypto users (almost 70%) are using these sort of apps on their phones and keep their funds in these hot wallets, just to be their own bank you know? ...
That's not bad to stay away with crypto apps from an almost permanently online device which security status is nearly impossible to judge and inspect and which people use for all sorts of internet and game shit. Did I mention that mobiles can easily be lost or stolen?
Personally, I'm fine with amounts in the ballpark of small pocket money, maybe just a few hundret bucks max. for short time. Anything above that... not on my mobile phone.