Topic: Via wallet from ViaBTC Group (Read 134 times)
Every closed source crypto wallet is bad but I still can't help but trust the binance exchange trust wallet because of who the teams are, the problem is mobile users cant find wallets that are open source and supports multi-chain altcoins too, not everyone depends on ETH and BTC only (Electrum).
Someone on Reddit posted an analysis[1] of the Via Wallet, in which he reverse-engineered the application to verify for himself all of the risks associated with using it.
Based on this user's post, I believe there are certain red flags you should be aware of, particularly with relation to their server that maintains your wallet balance, which is quite negative for security.
[1] https://www.reddit.com/r/handshake/comments/mtumur/analysis_of_viawallet/
Based on this user's post, I believe there are certain red flags you should be aware of, particularly with relation to their server that maintains your wallet balance, which is quite negative for security.
[1] https://www.reddit.com/r/handshake/comments/mtumur/analysis_of_viawallet/
only very few people knew about it
You answered your own question.Apart from the obvious facts that others pointed out such as this wallet being closed source hence considered shady, you have to know that when a software is not popular (specifically an open source wallet) that still makes it a risky one to use and you should avoid it unless you can review the code yourself.
In other words if this wallet is not popular at all, you should avoid it regardless of its source being open or closed, being closed source is "bad in bad".
Anyone using a viawallet on here?
Never used it, but it's indeed a wallet by ViaBTC group I've invested in coinex token for a while now after using the ViaBTC pool to mine some ETH so later this wallet was released by viaBTC group, they claimed its decentralised and only very few people knew about it that's why I'm asking if anyone on here is using this wallet.
The wallet is noncustodial, but not decentralized. It is also not open source, so care has to be taken when using it because you don't know what kind of code the developers used to build the wallet or even access your seeds. Only a few people know about the wallet because it's not popular 
The wallet you are talking about is close source and there is no way to know what is exactly happening in the wallet.
As long as the source code isn't available, I assume that it's not secure.
Note that being non-custodial is different from being decentralized.
They allow you to have access to your private keys. So, it's a non-custodial wallet, but that doesn't mean it's decentralized.
As long as the source code isn't available, I assume that it's not secure.
they claimed its decentralised
I haven't ever used the wallet in question, but I am sure it's not decentralized, because you always have to connect to their centralized server for making transaction or checking your balance. Note that being non-custodial is different from being decentralized.
They allow you to have access to your private keys. So, it's a non-custodial wallet, but that doesn't mean it's decentralized.
Well don't really know about via wallet from viaBTC, just hearing it for the first time. If any of the seniors here have comes across or heard of via wallet from viaBTC I believe your question will be answered and also more knowledge will be shared about you thread.
Anyone using a viawallet on here? I've invested in coinex token for a while now after using the ViaBTC pool to mine some ETH so later this wallet was released by viaBTC group, they claimed its decentralised and only very few people knew about it that's why I'm asking if anyone on here is using this wallet.
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