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Topic: So, do you guys remember Lumi Wallet? - page 2. (Read 371 times)

legendary
Activity: 2758
Merit: 6830
June 08, 2018, 09:15:34 PM
#2
I was looking for a thread like this one (to see if anyone had already posted this article, otherwise I would).

Unfortunately, you posted this in the Bitcoin Discussion board, where the spammers never rest. Because of this, your thread has 0 replies and isn't even on the front page of the board anymore (it got buried pretty quickly by the SMT being pumped every few minutes). Why don't you move it to the "Web Wallets" board?

Now, back to the topic: this was all the Lumi Wallet team said after the article came out:

Quote
Dear Emin, Thank you so much for spending your time and helping us make @Lumi_wallet more secure. We would love to get you on board and work together on better product. Please check out our mobile wallet as this is what we concentrated on and where we have most of our users. 💙
https://twitter.com/Lumi_wallet/status/1005172315909492738

They didn't even deny it. So I assume the wallet is (or will be) a scam.

They also "deleted" their ANN thread when they got called out by Loyce and Lauda (who neg trusted them).

Old thread: https://bitcointalksearch.org/topic/--2372646
mk4
legendary
Activity: 2870
Merit: 3873
Paldo.io 🤖
June 08, 2018, 12:37:47 PM
#1
Yeah, that one cool-looking bitcoin wallet being advertised here on bitcointalk? Yeah, their web wallet sends your mnemonic phrase to their servers, as claimed by Daniel Staudigel.


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Not only do they send the mnemonic to the server, they store the mnemonic (or a hash of it, but I’m guessing not) on their servers. This is either stratospherically irresponsible or Lumi is a scam wallet aiming to steal everyone’s funds at some point in the future. I haven’t been able to look into how their mobile wallets work, as I don’t have the time to do it the right way (root a phone, blah blah blah) — though I did verify they are at least using strong SSL to send your money to their servers, so at least the guy sitting next to you in Starbucks can’t steal your money… but that’s a small consolation when you’ve just sent your crown jewels to be stored by some faceless web service with zero transparency (though they have lots of blog posts with nebulous claims of security!)

It’s only a matter of time before the CEO, a rogue employee, or a hacker sweeps through the database and collects every penny of every Lumi wallet user.

Link to medium post: https://medium.com/@dandisagrees/a0cf1dd70fd0
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