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Author Topic: ASICVAULT: The Most Secure Cryptocurrency Hardware Wallet  (Read 12041 times)
cuteman (OP)
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January 08, 2018, 12:40:06 AM
Last edit: January 08, 2018, 12:58:26 AM by cuteman
 #1

There is a new very secure hardware wallet launching   -  surpassing Trezor and Leger, as producers claim.  They say it provides 1000 times(!) better security than any other hardware wallet/

For me it look very nice, especially in aluminium-titanium case, and I would like to buy it (though it is rather expensive - around 200 Euro) :




Short description from the website:        AsicVault is a next generation storage device specifically designed for cryptocurrencies. Developed by a company in Estonia, it provides the best security features. Aside from providing cutting edge cryptocurrency software wallet security, this device is fabricated to provide the best physical security as well.

AsicVault’s custom chip equipped with “crypto accelerators” provides 1000 times better security than any other hardware wallet. Its custom chip is composed of two physically isolated RISC-V processors. The device uses all round “anti-tampering technologies” to make it physically secure. This feature essentially makes this device more of a vault than a hardware wallet.

With no batteries, this device uses Supercapacitor technology for energy. Moreover, a number of embedded self-destruct modes enhance its security reliability. AsicVault also provides complete encryption for your computer hard drives. All the encryption algorithms are run on the device thus never exposing keys to your computers. The device controls can easily be accessed through a user friendly interface. A touch screen display on top of the device provides a smooth user experience.





Web-site:   https://asicvault.io/

Here is video from exhibition:  https://video.buffer.com/v/5a2576f7936392fc145eaaab

------------------------------

For me is unclear why there is not really much information about this device in independent media.   If this device is 1000 times more secure than other devices, why media does not cover it?    There are some articles on the net which seems to be promoted, though.

Can it happen that producer will be able to maybe steal money from it, remotely ?  

What do you think about it?    

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April 17, 2018, 08:13:26 AM
 #2

hI

i STUMBLED ACCROSS THIS DEVICE AND ON ONE HAND IT LOOKS FANTASTIC HOLDS ERC-20  TOKENS N LOADS OF ALT COINS LIKE NEO AND MONERO but on the other hand really there isn't many details on what I need so I keep asking myself is it to good to be true.

Having been burnt in the ICO for Giza Device hardware wallet I'm cautious. I've got a Trezor but it's very limited in available coins but I'll put up with it until the ASICVAULT is reviewed few times.

  Wink
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April 17, 2018, 09:15:53 AM
 #3

The device looks fantastic, and I don't understand why there is no independent reviews on it yet.    I would be glad to purchase it, but i am also caucious.

I would suggest the producer to distribute a few devices for the testing purposes to independent people.   Wink


Recent pictures i found on this device:

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May 22, 2018, 11:50:58 PM
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 #4

This hardware wallet looks promising. If it is as secure as they claim, then the device could easily take off and compete against other hardware wallets such as Ledger Nano S and Trezor. However, there isn't much info about the company behind ASICVAULT, neither updates about the development of the hardware wallet itself.

Last time I've checked on their site, they're still doing pre-orders. They only accept cryptocurrency payments for their orders, so it seems kind of shady to me. Why not accept regulated payment processors like Visa or PayPal as well? This could bring not only flexibility to some users, but also trust since they can have protection of funds in case things turn out not as expected.

Therefore, if this company is legit or not, I don't know. But seeing that they only accept crypto, makes me doubt if this hardware wallet would ever come into reality soon. Unless I see a real working and functional product reviewed by other people, I'll stay away from this as much as possible. Undecided

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May 23, 2018, 05:44:26 PM
 #5

They only accept cryptocurrency payments for their orders, so it seems kind of shady to me. Why not accept regulated payment processors like Visa or PayPal as well? This could bring not only flexibility to some users, but also trust since they can have protection of funds in case things turn out not as expected.

Therefore, if this company is legit or not, I don't know. But seeing that they only accept crypto, makes me doubt if this hardware wallet would ever come into reality soon. Unless I see a real working and functional product reviewed by other people, I'll stay away from this as much as possible. Undecided
Did not nitice this fact, thanks. I would agree with you. There are so many scams on the market, that a company without VISA/PayPal payment possibility looks very suspicious.
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June 26, 2018, 10:13:48 AM
 #6

they are certainly totally off, evicted from their office, phones are dead and they seem to have a tax issue with the gov. typical startup failure in the best case, scam in the worst.   
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June 26, 2018, 01:22:16 PM
 #7

they are certainly totally off, evicted from their office, phones are dead and they seem to have a tax issue with the gov. typical startup failure in the best case, scam in the worst.   
Wow, if that was a scam they must produce and demonstrate the fake ptototype on the conferences.
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June 26, 2018, 01:31:21 PM
 #8

Quote
AsicVault’s custom chip equipped with “crypto accelerators” provides 1000 times better security than any other hardware wallet

That's a huge-ass claim right there. Reading the information on their site, I felt like I was reading a buzzword-heavy ICO whitepaper. Makes me a bit skeptical. Though I won't immediately come to conclusions of course. Time will tell if this is actually a good hardware wallet.

Also, 200 EUR.. hmm.

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June 27, 2018, 09:49:53 AM
 #9

The most hilarious phrase that jump in my face immediately while I was reading that, was: 1000 times better than Ledger Nano, at least manufacturer saying that, lol
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June 27, 2018, 10:01:38 AM
 #10

It is interesting that such system of self-destruction? I think for users there is no difference between the fact that hackers steal coins and the fact that the keys are self-destructed when you try to hack. Lol! 200 euros is a small security fee but I think it would be more profitable to sell such things on credit for the cryptocurrency.
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June 28, 2018, 08:22:15 PM
 #11

they are certainly totally off, evicted from their office, phones are dead and they seem to have a tax issue with the gov. typical startup failure in the best case, scam in the worst.   
Wow, if that was a scam they must produce and demonstrate the fake ptototype on the conferences.
You can call it whatever you like - the fact is that people payed for the device half year ago and nobody has received anythings and the team is virtually hiding itself. 
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June 28, 2018, 08:32:39 PM
 #12

they are certainly totally off, evicted from their office, phones are dead and they seem to have a tax issue with the gov. typical startup failure in the best case, scam in the worst.   
Wow, if that was a scam they must produce and demonstrate the fake ptototype on the conferences.
You can call it whatever you like - the fact is that people payed for the device half year ago and nobody has received anythings and the team is virtually hiding itself. 

This whole thing seems very sketchy. The marketing itself just reeks of dishonesty from the start. I'd be surprised if this actually turned out to be a legit project to be honest.
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June 29, 2018, 09:12:22 AM
 #13

they are certainly totally off, evicted from their office, phones are dead and they seem to have a tax issue with the gov. typical startup failure in the best case, scam in the worst.   
Wow, if that was a scam they must produce and demonstrate the fake ptototype on the conferences.
You can call it whatever you like - the fact is that people payed for the device half year ago and nobody has received anythings and the team is virtually hiding itself. 

This whole thing seems very sketchy. The marketing itself just reeks of dishonesty from the start. I'd be surprised if this actually turned out to be a legit project to be honest.
Got an answer from their Latvian promoter https://www.facebook.com/viestursp :
Hi, product (HW part) is ready for some time, now development team is working on software for it. Software i demonstrated is still in demo/beta version we will send out units when all softwre tests will be done. dont worry everyone who ordered device will get it 🙂
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June 29, 2018, 09:21:52 AM
 #14

I really like the design of this wallet, I know that that's not the most important feature of this hardware wallet, but just wanted to mention it anyway.
Though, I do think that even the cheapest version is pretty expensive, with prices starting at 199 EUR.

I really wouldn't be pre-ordering these at those prices and with some claims of it being sketchy.

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June 29, 2018, 07:17:57 PM
Last edit: January 16, 2020, 04:39:41 PM by asicvault
 #15

Thank you eternalgloom, I personally like the design a lot too.  Here are some recent pictures:





So, challenge me about anything on the technical side and I am ready to prove it, explain it in detail and show it to you.

  
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June 29, 2018, 07:27:28 PM
 #16


Thank you eternalgloom, I personally like the design a lot too.  Here are some recent pictures:





So, challenge me about anything on the technical side and I am ready to prove it, explain it in detail and show it to you.

 
even nicer pictures than half a year ago. hopefully this time it all goes beyond that
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June 29, 2018, 07:41:42 PM
 #17

Got an answer from their Latvian promoter https://www.facebook.com/viestursp :
Hi, product (HW part) is ready for some time, now development team is working on software for it. Software i demonstrated is still in demo/beta version we will send out units when all softwre tests will be done. dont worry everyone who ordered device will get it 🙂
everyone who ordered device will get it...   Undecided    When?   They promised devices to be shipped in Winter, now is summer already.
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June 29, 2018, 08:02:52 PM
 #18


Thank you eternalgloom, I personally like the design a lot too.  Here are some recent pictures:





So, challenge me about anything on the technical side and I am ready to prove it, explain it in detail and show it to you.

 

If it's legit and I was wrong in my posting before I'll apologise in advance. I've just seen so many scams over the years that it's hard to give the benefit of the doubt.
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June 29, 2018, 08:34:41 PM
 #19


If it's legit and I was wrong in my posting before I'll apologise in advance. I've just seen so many scams over the years that it's hard to give the benefit of the doubt.

Well, it might be legit, there's no guarantees that they're going to pull through with the pre-orders.
That said, if these become available for direct purchase, I'd definitely want to buy one.

Looks way better than the ledger nano and Ledger blue, that's just purely my own taste though Smiley

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June 29, 2018, 09:17:20 PM
Last edit: January 16, 2020, 05:16:08 PM by asicvault
 #20

Of course it is legit, I stand behind every single claim made on our website https://asicvault.io

How can it be 1,000 times harder to crack compared to other BIP-39 hardware wallets?
BIP-39 hardware wallets are working on very low performance microcontrollers or secure elements.
They are doing only 2,048 iterations of PBKDF2 SHA-512 that is even less than old NIST recommendation of 10,000 rounds from year 2016.
Performing higher number of PBKDF2 SHA-512 is standard practice for good security. iTunes does it, LastPass does it and Veracrypt as well.
Even Ledger agrees that this very low number is the main problem of BIP-39:
https://donjon.ledger.com/Unfixable-Key-Extraction-Attack-on-Trezor/

AsicVault specially designed SHA-512 accelerator inside high performance secure chip is at least 340 times faster than common microcontrollers.
The number of PBKDF2 SHA-512 rounds is set to be exactly 1,000 times higher than BIP-39, hence the cost to crack AsicVault is also 1,000 times bigger.
Please read in-depth teardown review and validation of AsicVault SHA-512 performance here:
https://medium.com/@Zero404Cool/teardown-of-two-touchscreen-hardware-wallets-trezor-vs-asicvault-a92923a5b6ce

If it takes 10 days to crack an ordinary hardware wallet, it would take 10,000 days ie 27 years to crack AsicVault.
If it costs $10,000 to crack an ordinary hardware wallet, it would cost $10,000,000 to crack AsicVault.
You can perform independent analysis according to the PDF document in video description and our device performance is shown on this video below:
https://vimeo.com/293211785

What is SRAM-PUF and why do we need it?
While some people have said that there is no point of encrypting the seed phrase and it is totally fine to hold it in RAM, we think the opposite.
The main reason given for not encrypting seed phases has been that the encryption key has to be stored in Flash and it is as easy to extract.
This is true for non-secure microcontrollers that lack the sophisticated hardware required for proper key storage, like SRAM-PUF.
Physically Uncloneable Function does not store the encryption keys in non-volatile memory, they are invisible when the device is powered down.
https://en.wikipedia.org/wiki/Physical_unclonable_function
This way of deriving a key from the SRAM properties has great security advantages compared to traditional key storage in non-volatile memory.
Because the key is not permanently stored, it is not present when the device is not active (no key at rest), and hence cannot be found by an attacker who opens up the device and compromises the memory contents.

AsicVault does not rely just on PUF, we are using multiple layers of encryption everywhere.
We have a very fine unique 75nm mesh around the electronic components protecting them actively from outside intrusions.
If you destroy the mesh, your encryption key will be broken as well.

AsicVault can be called a true hardware wallet since we have designed all key components in hardware, not in software.
We have written over 77,000 lines of Verilog/VHDL code (hardware design), together with testbenches over 550,000 lines.
This is more than Bitcoin Core client code size - all in hardware.


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June 29, 2018, 09:26:20 PM
 #21

The hardware purse is a cold store for the cryptonym, and looks very much like a USB flash drive - a compact device that can be connected to a computer with a light hand movement. When connected, you can use the purse for its intended purpose, and outside the computer it turns into a cold store. The advantages are obvious: we can not part with our bitcoins and everywhere carry them with us, spend anywhere in the world or safely store it outside the network coverage area. Convenient, compact and reliable!
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July 03, 2018, 06:35:15 AM
 #22

Very nice explanation. At least we know a representative exists from ASICVAULT  Wink

But when do you expect the real shipments of your equipment?  It was promised for April, as i remember.
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July 03, 2018, 10:15:11 AM
 #23

Very nice explanation. At least we know a representative exists from ASICVAULT  Wink

But when do you expect the real shipments of your equipment?  It was promised for April, as i remember.
Last night their rep answered me that it will be definitely shipped this year  Cheesy
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July 03, 2018, 10:50:24 AM
 #24

In the op, is that a rendering or it is the actual product? Because it does not look real! Can you please clarify if the product already exists? If not, when can it be available? What coins and tokens will support?
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July 03, 2018, 02:07:42 PM
Last edit: July 03, 2018, 02:20:16 PM by BadNoose
 #25

In the op, is that a rendering or it is the actual product? Because it does not look real! Can you please clarify if the product already exists? If not, when can it be available? What coins and tokens will support?

Pic in OP is rendering. Later posts in this thread are actual photos. As far as I know all coins/tokens currently supported by other wallets will be available (excluding any dead coins of course) + some big ones that are not supported by anyone will be there. In addition, the device supports custom apps and can hold virtually unlimited number of different crypto assets simultaneously (compared to 5 in Ledger for example). So community will have opportunity to build on top of the system as well.

*edit* i meant that Ledger can hold only up to 5 apps at the same time, meaning that all currencies you have are still there, but you can actively transact only in up to 5 of them.
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July 03, 2018, 07:54:30 PM
 #26


Of course it is legit, I stand behind every single claim made on our website https://asicvault.io
AsicVault can be called a true hardware wallet since we have designed all key components in hardware, not in software.
We have written over 77,000 lines of Verilog/VHDL code (hardware design), together with testbenches over 550,000 lines.
This is more than Bitcoin Core client code size - all in hardware.

Now, some people have questioned what 1,000 stronger security means? I will explain.
When you initialize your hardware wallet, a very big random number is generated, forming your 24 seed words.

As a standard, other hardware wallets are doing just 2,000 rounds of PBKDF2 SHA-512 to derive private keys from these seed words.
During the same time we can and are performing 2,000,000 rounds! This is 1,000 times more!
When using the same length passphrases, AsicVault is always 1,000x more expensive and time-consuming to crack. For example:
If it takes 10 days to crack an ordinary hardware wallet, it would take 10,000 days ie 27 years to crack AsicVault.
If it costs $10,000 to crack an ordinary hardware wallet, it would cost $10,000,000 to crack AsicVault.

Well, of course assuming that you can even extract the seed phrases from the device in the first place.
While others have said that there is no point of encrypting the seed phrase and it is totally fine to hold it in RAM, we think the opposite.
The main reason given for not encrypting seed phases has been that the encryption key has to be stored in Flash and it is as easy to extract.
This has already led to successful hacks and more will come in the future.
This is true for non-secure microcontrollers that lack the sophisticated hardware required for proper key storage, like SRAM-PUF.
Physically Uncloneable Function does not store the encryption keys in non-volatile memory, they are invisible when the device is powered down.
https://en.wikipedia.org/wiki/Physical_unclonable_function
AsicVault does not rely just on PUF, we are using multiple layers of encryption everywhere.
We have a very fine unique 75nm mesh around the electronic components protecting them actively from outside intrusions.
If you destroy the mesh, your encryption key will be broken as well.

And your paper backup inherits exactly the same security benefits described above!

Interesting. The hardware wallet's features are surely promising, and if turns out to be legit as you've said, then it would be worth buying. I think that it could become a fierce rival against Ledger Nano S, Trezor, and most popular hardware wallets known today. The security of the ASICVault hardware wallet is superior, and it could be expanded to other crypto applications which is not possible with existing wallets. Considering everything it has; this wallet could be worth buying once it's released.

I'm hoping to see a review from a customer, once he/she receives his/her pre-ordered wallet, so that I could purchase one for myself. I know that I can make the pre-order in the first place, but just to be safe, I'll wait until someone receives the product and reviews it himself/herself.

By the way, this wallet would be even better if it's waterproof. While it's not a necessity, it could further secure one's cryptocurrency funds, in case the device is submerged in the water by accident. Smiley

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July 04, 2018, 01:08:46 PM
 #27

These wallets are designed to have a real IP68 rating which means devices are completely dust tight and can be submerged in water for up to 30 minutes at up to 1.5 meters deep. Additionally all devices will be potted. This means that the device is filled with a compound that will completely seal its contents and provide additional protection from shock and vibration and, most importantly, provides complete exclusion of moisture and other corrosive agents.

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July 04, 2018, 01:38:36 PM
 #28


I would like to slightly correct the previous answer about water resistance. The device was first designed and has been advertised to have at least IP67+ water resistance.
During the enclosure design refinements we have decided to fill the device entirely with epoxy compound. Our aluminum enclosure already has thickness ranging from 2.0mm to 6.5mm and this further prevents enclosure deformation - effectively moving AsicVault device into diving watch territory. However, we currently don't have immediate plans to test our hardware wallet under water at deep diving depths.



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July 06, 2018, 12:19:32 AM
 #29

[*edit* i meant that Ledger can hold only up to 5 apps at the same time, meaning that all currencies you have are still there, but you can actively transact only in up to 5 of them.
That's no longer true as of firmware 1.4.1... depending on the apps installed, you can supposedly get up to 18 installed. From memory, I've personally had around 10 or 11 at the same time.

BTC, BCH, BTG, ETH, LTC, DOGE, XRP, XLM, DASH, ZCASH and STRATs if my memory is correct. 

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July 06, 2018, 05:12:39 PM
 #30


I would like to slightly correct the previous answer about water resistance. The device was first designed and has been advertised to have at least IP67+ water resistance.
During the enclosure design refinements we have decided to fill the device entirely with epoxy compound. Our aluminum enclosure already has thickness ranging from 2.0mm to 6.5mm and this further prevents enclosure deformation - effectively moving AsicVault device into diving watch territory. However, we currently don't have immediate plans to test our hardware wallet under water at deep diving depths.

Nice. I'm glad to know that at least the device would be waterproof, even if it's not meant to be submerged in deeper depths. I think that with all the security features that this hardware wallet provides, it'll be the most secure wallet to date. None of the previous wallets such as Ledger Nano S, Trezor, KeepKey, etc have been able to provide unparalleled security for cryptocurrencies. I know that with additional security features, the price of the device would be higher, but I think that it's worth it considering that your cryptocurrency funds would remain impenetrable against external attacks.

What has attracted me the most about this wallet, is the ability to run a full node in it. That's something that's not possible with current hardware wallets and could further decentralize cryptocurrency networks as the level of accessibility becomes greater for an average person. All in all, this could be a very useful device once it's officially released from the company itself. It would be a matter of time before customers receive their pre-ordered devices and leave their reviews about the same. Smiley

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July 06, 2018, 11:31:44 PM
 #31

What has attracted me the most about this wallet, is the ability to run a full node in it.
What? Huh How are you going to run a "full node" on a device with 120 MEGAbytes of storage... when the current blockchain is something like 180 GIGAbytes? Huh

Or are you supposed to hook it up to an external storage device? and then somehow network it? There is no information regarding this... just a "Full Node" icon listed under "Functions".

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July 07, 2018, 03:45:32 PM
 #32

What has attracted me the most about this wallet, is the ability to run a full node in it.
What? Huh How are you going to run a "full node" on a device with 120 MEGAbytes of storage... when the current blockchain is something like 180 GIGAbytes? Huh

Or are you supposed to hook it up to an external storage device? and then somehow network it? There is no information regarding this... just a "Full Node" icon listed under "Functions".

Can asicvault comment on this "Full Node" feature, please ?
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July 14, 2018, 04:40:07 AM
Last edit: July 14, 2018, 06:08:13 AM by Alois D
 #33

What has attracted me the most about this wallet, is the ability to run a full node in it.
What? Huh How are you going to run a "full node" on a device with 120 MEGAbytes of storage... when the current blockchain is something like 180 GIGAbytes? Huh

Or are you supposed to hook it up to an external storage device? and then somehow network it? There is no information regarding this... just a "Full Node" icon listed under "Functions".

Can asicvault comment on this "Full Node" feature, please ?
Asicvault won't answer you, they are busy deleting sensitive questions asked in social media, they just purged several complaints and questions from their fb account - people were asking how they'd get the items payed for long time ago. if they cannot delete complaints then they launch a positive barrage of comments, just look their googlereviews - in 24h around 20 "positive reviews" appeared there to suppress few negative statements.
i am not even sure they had good intentions at the beginning - "1000 times better" must sound a red flag, in any scam manual you are warned against too good offers. also, their phone is off or autoresponder, their address indicated at heir webpage is not real, they do not respond e-mails.
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July 14, 2018, 02:00:26 PM
 #34

their phone is off or autoresponder, their address indicated at heir webpage is not real, they do not respond e-mails.
Do you think they were scamming from the beginning, or they just were not able to keep with the pace of the product's development?
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July 15, 2018, 04:32:23 AM
 #35

their phone is off or autoresponder, their address indicated at heir webpage is not real, they do not respond e-mails.
Do you think they were scamming from the beginning, or they just were not able to keep with the pace of the product's development?

I think the Asicvault team is innocent, but their CEO has bad reputation with similar bogus enterprises. so yea, generally speaking it is a scam
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July 19, 2018, 09:11:14 AM
 #36

1000 times better, I'm wondering what was the criteria to count that, lol. Excuse me guys, but this sounds like the cheap advertisement of someones nontrustworthy product, that you just want to sell.
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July 19, 2018, 03:22:13 PM
 #37

If you are performing 2,000,000 rounds, It may add more time for a cracker to break it but won't that be a downside for the user as well? as It will take a lot of time until his wallet is initialized.

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July 19, 2018, 03:54:48 PM
 #38

If you are performing 2,000,000 rounds, It may add more time for a cracker to break it but won't that be a downside for the user as well? as It will take a lot of time until his wallet is initialized.
Indeed, how much time these 2mln rounds take?   Developers should know about this and reply.
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August 02, 2018, 01:12:38 AM
 #39

their phone is off or autoresponder, their address indicated at heir webpage is not real, they do not respond e-mails.
Do you think they were scamming from the beginning, or they just were not able to keep with the pace of the product's development?

Got some feedback from Estonia and Latvia on Asicvault. There has been at least five similar scams generated by Asicvault's CEO Hando Eilsen. Tens of his partners and investors have lost money investing in his "100 times better" or even "1000 times better" schemes: search engines, internet casinos etc, and the wallet here (hopefully some relevant court cases will be available for me soon).

But the worst thing is that Asicvault proceeds with selling non-existent product and tricking people into buying it. Judging by the previous schemes I guess the point here for Asicvault is to get money from new investors. That's why they still try to suppress any negative statement in social media and show the bogus as a real product. Maybe the Asicvault team believes it can pull through with the new money and finally release the product - but in fact they are just packing the pockets of a notorious scammer.
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August 02, 2018, 03:02:19 PM
 #40

their phone is off or autoresponder, their address indicated at heir webpage is not real, they do not respond e-mails.
Do you think they were scamming from the beginning, or they just were not able to keep with the pace of the product's development?

Got some feedback from Estonia and Latvia on Asicvault. There has been at least five similar scams generated by Asicvault's CEO Hando Eilsen. Tens of his partners and investors have lost money investing in his "100 times better" or even "1000 times better" schemes: search engines, internet casinos etc, and the wallet here (hopefully some relevant court cases will be available for me soon).

But the worst thing is that Asicvault proceeds with selling non-existent product and tricking people into buying it. Judging by the previous schemes I guess the point here for Asicvault is to get money from new investors. That's why they still try to suppress any negative statement in social media and show the bogus as a real product. Maybe the Asicvault team believes it can pull through with the new money and finally release the product - but in fact they are just packing the pockets of a notorious scammer.
what a shame...   But if fact i see no confirmations of his scam activily in the internet.  If it was, there would be stories about him, won't they?
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August 03, 2018, 08:36:25 PM
Merited by Steamtyme (1)
 #41

...
Got some feedback from Estonia and Latvia on Asicvault. There has been at least five similar scams generated by Asicvault's CEO Hando Eilsen. Tens of his partners and investors have lost money investing in his "100 times better" or even "1000 times better" schemes: search engines, internet casinos etc, and the wallet here (hopefully some relevant court cases will be available for me soon).

But the worst thing is that Asicvault proceeds with selling non-existent product and tricking people into buying it. Judging by the previous schemes I guess the point here for Asicvault is to get money from new investors. That's why they still try to suppress any negative statement in social media and show the bogus as a real product. Maybe the Asicvault team believes it can pull through with the new money and finally release the product - but in fact they are just packing the pockets of a notorious scammer.
what a shame...   But if fact i see no confirmations of his scam activily in the internet.  If it was, there would be stories about him, won't they?
People are starting to be more cautious as time goes by... I myself won't order anything that has not been manufactured already and if there's no feedback from real people...
There will be always people who care only the marketing bullshit and the nice (and fake) pictures about the item scammers wants to sell, and these kind of people will always fall for the scammers... But I hope as the time goes by, and people will gather experience in the crypto world, less and less people will fall for these kind of scams...
But you know, you can try to protect the people from scammers but you just can't protect people from themselves....
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August 04, 2018, 12:30:23 AM
 #42

their phone is off or autoresponder, their address indicated at heir webpage is not real, they do not respond e-mails.
Do you think they were scamming from the beginning, or they just were not able to keep with the pace of the product's development?

Got some feedback from Estonia and Latvia on Asicvault. There has been at least five similar scams generated by Asicvault's CEO Hando Eilsen. Tens of his partners and investors have lost money investing in his "100 times better" or even "1000 times better" schemes: search engines, internet casinos etc, and the wallet here (hopefully some relevant court cases will be available for me soon).

But the worst thing is that Asicvault proceeds with selling non-existent product and tricking people into buying it. Judging by the previous schemes I guess the point here for Asicvault is to get money from new investors. That's why they still try to suppress any negative statement in social media and show the bogus as a real product. Maybe the Asicvault team believes it can pull through with the new money and finally release the product - but in fact they are just packing the pockets of a notorious scammer.
what a shame...   But if fact i see no confirmations of his scam activily in the internet.  If it was, there would be stories about him, won't they?

re: cuteman
please, cut the crap! If we read your laudatory thread you started here 7 month ago and consider the situation now (not a single person has received the product, dead phone, non-responsive email, fake address) then there is a question: why do you protect Asicvault? Are you part of the scam?
And concerning the previous scams of Asicvault's CEO the updates will be coming soon
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August 04, 2018, 04:42:10 PM
 #43


re: cuteman
please, cut the crap! If we read your laudatory thread you started here 7 month ago and consider the situation now (not a single person has received the product, dead phone, non-responsive email, fake address) then there is a question: why do you protect Asicvault? Are you part of the scam?
And concerning the previous scams of Asicvault's CEO the updates will be coming soon

Hey, i have not any single connection with them.  And where did you see that i protected them??   I started the thread in January because I wanted to buy that appliance, and wanted confirmation from other people before buying.   I did not buy because I saw no reviews from people who bought.   And only in June somebody responded that thier office is closed.  


I don't mind if you share the stories about the Asicvault's CEO scams, I hate scammers.

I just said that I could not find such stories on the web, but if you know them - welcome to share!   Grin
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November 21, 2018, 10:18:46 PM
Last edit: January 21, 2020, 10:18:34 AM by Alois D
Merited by suchmoon (4), vapourminer (1), bones261 (1), bitart (1)
 #44

Hi, here is an exposure of Asicvault and its scam schemes, it is pretty thorough analysis, explains the fraud from technical side as well as from management side. And new exposures are coming soon as more and more deceived customers and investors are coming forward: http://archive.is/4fDi1
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November 26, 2018, 12:10:23 AM
Last edit: November 26, 2018, 04:32:49 AM by Alois D
 #45

AsicVault makes news promises, the release date is now Q1 2019 . (They hope to succeed with ICO): https://www.reddit.com/r/CryptoCurrency/comments/9vtmf8/asicvault_sign_of_life_hw_wallet/  

    
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November 27, 2018, 04:08:53 AM
 #46

AsicVault makes news promises, the release date is now Q1 2019 . (They hope to succeed with ICO): https://www.reddit.com/r/CryptoCurrency/comments/9vtmf8/asicvault_sign_of_life_hw_wallet/  

    

a week ago first deceived customers reported to police on Asicvault as I see fro twitter:

https://twitter.com/TheCryptoShopCA/status/1060182059401072645

SoTj

Replying to @TheCryptoShopCA @AsicVault
Guys, please do yourself a favour. Send an email to ppa@politsei.ee or cybercrime@politsei.ee to report them. I have reported them and in the process of providing more info to the authority. PM me for more details. Maybe....maybe...we can bring them down.
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November 28, 2018, 04:11:03 PM
 #47

 AsicVault rats on run:
From fake adress in Estonia (Tornimäe 5 , 10145 Tallinn) to fake address in Singapore (11 Qollyer Quay - 14-02 The Arcade); and since November 2018 to fake address in Great Britain:  Kemp House, 160 City Road, London, United Kingdom, EC1V 2NX. It is called now AsicVaultFuel Mining Ltd: https://beta.companieshouse.gov.uk/company/11657718/officers
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April 10, 2019, 01:14:32 AM
Last edit: April 12, 2019, 09:02:12 AM by Alois D
 #48

We have some new updates concerning Asicvault / Asicfuel scam started by Estonian well known swindler Hando Eilsen

the scam of https://asicvault.io/ is still operational


MATISS PAEGLE   -  person called Matiss Paegle  - https://www.baltcap.com/team/matiss-paegle/ -  is part of the scam, caution advised dealing with the person.

VIESTURS PLESS  / VIESTURS PLEŠS - be also careful with a Latvian citizen Viesturs Pless Plešs : https://www.facebook.com/viestursp - he has been one of the most active promoter of Asicvault / Asicfuel scam
Here is one example as he promotes never existent "first batch"

 https://twitter.com/viestursp/status/946323355820609536

but nobody has never seen any of these "sold 1500" items

 
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May 03, 2019, 12:52:02 AM
 #49

CAUTION! Well known scammer Hando Eilsen (Estonian citizen) and his crooked companion Andris Vaivods (Latvian citizen) have created  Asicvault Capital OÜ (  ASICVAULT CAPITAL OU) as a sequel to previous scams. Extreme caution advised! 
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May 09, 2019, 09:02:11 PM
 #50

For more visibility... You might want to create a "Scam Accusations" thread (if you haven't already), with details of the original scam and all the other bits of info you have collected.

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September 22, 2019, 07:26:31 PM
 #51

For more visibility... You might want to create a "Scam Accusations" thread (if you haven't already), with details of the original scam and all the other bits of info you have collected.

Posted on Asicvault "team"  https://bitcointalk.org/index.php?topic=5186716.0 But some extra coming on its CEO, concerning his previous 5 scams 
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December 04, 2019, 12:51:42 PM
 #52



Update to AsicVault scam

Scum isn't dead , AsicVault CEO promises to Estonian business daily "mass production of AV wallets will start soon"

https://bitcointalk.org/index.php?topic=5186716.0

https://arileht.delfi.ee/news/uudised/eesti-firma-sattus-internetis-pettusesuudistuste-laviini-alla?id=88223975


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December 09, 2019, 07:11:48 AM
 #53

There is a new very secure hardware wallet launching   -  surpassing Trezor and Leger, as producers claim.  They say it provides 1000 times(!) better security than any other hardware wallet/

For me it look very nice, especially in aluminium-titanium case, and I would like to buy it (though it is rather expensive - around 200 Euro) :




Short description from the website:        AsicVault is a next generation storage device specifically designed for cryptocurrencies. Developed by a company in Estonia, it provides the best security features. Aside from providing cutting edge cryptocurrency software wallet security, this device is fabricated to provide the best physical security as well.

AsicVault’s custom chip equipped with “crypto accelerators” provides 1000 times better security than any other hardware wallet. Its custom chip is composed of two physically isolated RISC-V processors. The device uses all round “anti-tampering technologies” to make it physically secure. This feature essentially makes this device more of a vault than a hardware wallet.

With no batteries, this device uses Supercapacitor technology for energy. Moreover, a number of embedded self-destruct modes enhance its security reliability. AsicVault also provides complete encryption for your computer hard drives. All the encryption algorithms are run on the device thus never exposing keys to your computers. The device controls can easily be accessed through a user friendly interface. A touch screen display on top of the device provides a smooth user experience.





Web-site:   https://asicvault.io/

Here is video from exhibition:  https://video.buffer.com/v/5a2576f7936392fc145eaaab

------------------------------

For me is unclear why there is not really much information about this device in independent media.   If this device is 1000 times more secure than other devices, why media does not cover it?    There are some articles on the net which seems to be promoted, though.

Can it happen that producer will be able to maybe steal money from it, remotely ?  

What do you think about it?    


This one apparently is a scam! Sad because it looks so good. Please read this article that points out a lot of flaws in this hardware wallet: https://medium.com/@caffeine93/asicvault-asicfuel-ico-new-upgrade-to-an-old-scam-46e47478177b
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December 10, 2019, 01:45:45 PM
Last edit: January 21, 2020, 10:19:53 AM by Alois D
 #54

[/quote] This one apparently is a scam! Sad because it looks so good. Please read this article that points out a lot of flaws in this hardware wallet: http://archive.is/4fDi1
[/quote]



Yes, it is clear scam, even one Estonian newspaper wrote about this scam, ridiculed AsicVault and quoted the story you refer https://arileht.delfi.ee/news/uudised/eesti-firma-sattus-internetis-pettusesuudistuste-laviini-alla?id=88223975  . The best part of course is a satellite   Grin .

By the way, all the previous scams of Asicvault CEO Hando Eilsen looked at least same good. Scam must look good, otherwise you wouldn't believe it, would you!?? Most sad that they seem to have found a new fool now who is willing to invest into that scam. Even don't know how to warn potential victim.

In their previous scam (internet casino software) they fooled at least 5-6 different investors over the period of several years. So this scam here is certainly not dead yet!      


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December 15, 2019, 10:14:03 AM
Last edit: December 17, 2019, 08:05:08 AM by naska21
 #55




Nice design and I'd love to have it in my hand ( providing it's not a fraud). However,  it seems that all data go through UCB-C connector while I would prefer to have QR-code interface  for data exchange between device and services that push signed transactions.

UPD: Fraud!
Alois D
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December 16, 2019, 01:34:47 AM
Last edit: December 16, 2019, 01:42:50 PM by Alois D
 #56



Nice design and I'd love to have it in my hand ( providing it's not a fraud). However,  it seems that all data go through UCB-C connector while I would prefer to have QR-code interface  for data exchange between device and services that push signed transactions.

it is a fraud. they took money from many customers for their "1000 times better device" and then disappeared over a year ago. Technical side of the device as described by Asicvault is a pure nonsense and there isn't anything except for nice pictures. One of the AsicVault shareholders (Matiss Paegle) was an initiator of another major scam called WindhanEnergy. Another shareholder of AsicVault Hando Eilsen is well known in Latvia and Estonia with previous fraudulent schemes and has deceived many partners for over 20 years.
So there is a 1000 times better chance for you to win the Powerball jackpot than hold in your hand working AsicVault device.

Alois D
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December 16, 2019, 01:49:19 PM
 #57


They only accept cryptocurrency payments for their orders, so it seems kind of shady to me. Why not accept regulated payment processors like Visa or PayPal as well? This could bring not only flexibility to some users, but also trust since they can have protection of funds in case things turn out not as expected.

Therefore, if this company is legit or not, I don't know. But seeing that they only accept crypto, makes me doubt if this hardware wallet would ever come into reality soon. Unless I see a real working and functional product reviewed by other people, I'll stay away from this as much as possible. Undecided

How prophetic words one and a half years ago...


naska21
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December 17, 2019, 08:03:23 AM
 #58



Nice design and I'd love to have it in my hand ( providing it's not a fraud). However,  it seems that all data go through UCB-C connector while I would prefer to have QR-code interface  for data exchange between device and services that push signed transactions.

it is a fraud. they took money from many customers for their "1000 times better device" and then disappeared over a year ago. Technical side of the device as described by Asicvault is a pure nonsense and there isn't anything except for nice pictures. One of the AsicVault shareholders (Matiss Paegle) was an initiator of another major scam called WindhanEnergy. Another shareholder of AsicVault Hando Eilsen is well known in Latvia and Estonia with previous fraudulent schemes and has deceived many partners for over 20 years.
So there is a 1000 times better chance for you to win the Powerball jackpot than hold in your hand working AsicVault device.


Yeah, I got it after read all post above. Anyway I wouldn't order it as have ledger nano s that meets all my requirements and needs. One must only trust to proven manufactures of hardware wallets.
Alois D
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January 01, 2020, 01:27:36 AM
Merited by OmegaStarScream (1)
 #59


update on fraudulent and malicious debts of Asicvault and its CEOhttps://bitcointalk.org/index.php?topic=5186716.msg53475533#msg53475533

Alois D
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January 01, 2021, 01:58:46 PM
 #60


Asicvault website is down but a lot of information coming up on this scam, its background and its main perpetrator:  https://bitcointalk.org/index.php?topic=5186716.msg55988575#msg55988575
Alois D
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February 04, 2021, 12:43:12 PM
 #61


SCUM IS BACK

Asicvault scummy website https://asicvault.io/ is up again with lightly changed content.

Their address indicated now is Tornimäe 5, 2nd floor Tallinn, Estonia. It is a virtual office space , Asicvault has minimal package, not even call answering service, only Business Address and Mail Handling.

Sure they have found a new potential investor to screw

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