Reminder for LUMI wallet users.

i have an alert from LUMI wallet asking me to back up because there is a major update coming tomorrow and every wallet will be logged out. Just saying, if is your case this might help you to do not loose your money,because i have just been notified 5 days ago.. i think this is no good from LUMI. I am sure that many will loose funds if they dont make their backup.

Quote from: krispybitcoin on October 29, 2020, 04:20:26 PM

There are already some lessons to be learned from your post about LUMI:

1) There are too many players (wallets) that are not well-designed for newbies and non-tekkies (moi)

2) It's annoying that there are so many forks & updates that demand near constant attention, NOT GOOD

3) Read reviews here and consider avoiding cryptos that fork, and wallets that update too much

4) Consider providers that have been serving people well for a long time

5) Take some profits along the way, sell some BTC when it spikes, that way you cannot lose it all

The above thoughts just off the top of my head.

Quote from: krispybitcoin on October 29, 2020, 04:20:26 PM

Those who forks usually take screenshot from their side but this is asking to keep back up. It is not good but as they announce earlier then you should not accuse them for keeping back up.

Quote from: ETFbitcoin on October 30, 2020, 11:14:43 AM

That would be suck, but it's partially user fault if they don't make any backup. I don't know if this wallet suggest you to make backup when user create new wallet, but at least they offer multiple backup method (12-word mnemonic and file)

They suggest, but they don't enforce it like making the user rewrite the 12-work mnemonic phrase to confirm that they backed it up as it is with some good wallets like Electrum. This is a point where I think most users of such wallets end up using the wallet without backing it up. Because all one has to do is check the option saying "I have written down the mnemonic phrase" and boom they are in.

If I remember correctly some(or most?) wallet software are able to update their software without clearing their user's memory. What was the update about in the first place? If you don't mind probably show us a screenshot.

In my opinion, such deadlines after which users are able to lose their money are actually provocations from the developers of this wallet.

Unfortunately, many unscrupulous developers still have a bad dreams due to the fact that they did not rob everyone who entrusted them with their money.

If I were you, I would not mess with unfamiliar wallet apps or teams in which you are not completely sure.

I just checked reviews on play store, would stay away.

Users should save their private key/ seeds or any other confidential info to save their fund. And if developer want to make any update they should inform their user and also they should take screenshot while start the update.

It looks like the problem comes from Apple Developer Support. The lumi wallet team is blaming them for all this mess. Therefore, in the update, iOS user will be affected but those who use android will just be fine.

This is what their CEO has to say

https://twitter.com/FurmannD/status/1321016678868832261

Quote

In February 2020, our company incorporated a new legal entity in Cyprus due to a strategic decision to be fully incorporated in Europe. Previously we had a legal entity in Hong Kong that was enrolled in the Apple Developer Program.

As we have already started the restructuring of the company and the liquidation process of the HK entity, we needed to change the legal entity in the AppStore too.

After reaching out to Apple Developer Support, Lumi was advised to create a new Apple Developer account using the Cyprus company and to transfer the Lumi app to the newly created account.

We decided that everything was fine and did strictly as advised. It took us about several weeks and $99, everything was done, and we had transferred our apps.
While preparing a new app version release we received an email from App Store Connect saying:

“We identified one or more issues with a recent delivery for your app, "Lumi Crypto Wallet" ...Your delivery was successful, but you may wish to correct the following issues in your next delivery: ITMS-90076: Potential Loss of Keychain Access - The previous version of software has an application-identifier value ['TeamID-XXX.com.lumiwallet.HD'] and the new version of software being submitted has an application-identifier of ['Team ID-YYY.com.lumiwallet.HD']. This will result in a loss of keychain access.”

What does it mean?
That definitely surprised us (in a negative way), as in different words it says that ALL our users will be logged out from the application if we release a new version from the new account because our Team ID has changed and the Lumi app will no longer have access to the Keychain as the keychain pass includes the Team ID in its string.

More details in this article: https://hackernoon.com/apple-hurts-businesses-again-lumi-wallet-users-may-lose-their-money-due-to-ios-keychain-0b303zxp