I know they claim this, BUT problem is that Safepal is the only hardware wallet (except unknown Wookong brand) that I couldn't identify what secure element they are using, and I even wrote them an email and contacted them on social media.
I received some generic reply without clear explanation, and imagine when Kraken experts also could not identify their secure element...
See the current list of Hardware wallets with identified secure element chips and notice how only Chinese Safepal and Wookong have unknown chips:
- CoboVault: EAL5+ (FIPS 140-2) secure element with open source firmware
- ColdCard Mk3: Microchip ATECC608A covered by epoxy, open source
- Bitbox02: Microchip ATECC608A, open source
- Passport: Microchip ATECC608A,open source
- Ledger: EAL5+/EAL6+ ST31H320, ST33J2M0, closed source!
- D'CENT: EAL5+ NXP P60
- Safepal S1: EAL5+ ? unknown chip, closed source
- CoolWalletS: EAL5+ SE microchip NXP P5CD081, closed source
- Jubiterwallet: EAL6+ SE Infineon, closed source
- Kasse HK-1000: EAL5+ ST31H320 A03, closed source
- Keevo: EAL5+ Infineon Optiga Trust-P, closed source
- Secux: EAL5+ Infineon CC, closed source
- Ngrave: EAL7+ STM32MP157C with built-in secure element, ?
- Tangem: EAL6+ Samsung SecureCore microchip, open source sdk
- ImKey: EAL 6+ Military-grade CC security chip, closed source
- Wookong: EAL 4+ ? unknown chip, closed source
- Hashwallet: EAL 6+ Infineon SLE78 secure element
Will the funds stored in safepal wallet will be subject to risk if this happens ?
It would happen the similar thing like for Trezor, Keepkey, older ledger and all other hardware wallets that have some security flaws and extracting keys means they can control and send your crypto.
Not your keys - not your crypto.