Can trustwallet be hacked. can the owners take money of all the users?

[SadGoodbye]

Blue wallet is 100% safe because is opened source and no vulnerability?

It's as safe as your device. If your phone is infected with malware, you can't expect your wallet to remain safe but yes, the developers of the wallet cannot access everyone's funds.

I knew about android phones since version 1.0 but till this day I have never seen a n android phone getting infected with malware, I don't think it's possible but correct me if I am wrong.

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[Lucius]

Sorry but is Trust wallet really open source?

Who says that is so? It is a well-known fact that this wallet is not open source, and even that is clearly stated in the second post of this topic.

I knew about android phones since version 1.0 but till this day I have never seen a n android phone getting infected with malware, I don't think it's possible but correct me if I am wrong.

It is quite possible, Android is not immune to malware and viruses. I have personally seen some smartphones infected with very vicious malware that at that moment could not be removed in any way, not even a factory reset. I can't remember what that malware was called, although we mentioned it on the forum.

If you are interested in more, there are good articles that describe in detail some of the most dangerous malware that attack the Android OS, and how to prevent them - use the search engine and keywords.

[hosseinimr93]

Their website states that they are an open source wallet that make me confusing.

They are lying. Trustwallet used to be open-source, but it became close-source after being purchased by binance.
If you check their github, you see that the code hasn't been updated in the last 4 years.

I knew Binance took over Trust wallet two years ago and believe it is a close source wallet but their description is open source.

Binance acquired trustwallet in 2018, not two years ago.

[Findingnemo]

Yes they can if they want to, closed source means we don't know what and how the wallet is designed so you have to go with reputation/trust or simply choose the open source so you can verify the signatures on your own and its impossible to steal your money without your mistake like using infected device, getting phished or something similar.

[SquirrelJulietGarden]

Who says that is so? It is a well-known fact that this wallet is not open source, and even that is clearly stated in the second post of this topic.

I believe so but I don't know how to check codes and I did not believe it is open source because the wallet belongs to Binance.

They are lying. Trustwallet used to be open-source, but it became close-source after being purchased by binance.
If you check their github, you see that the code hasn't been updated in the last 4 years.

Weird that they can lie on their website because it is easy for developers to check a wallet is open source or close source.

Binance acquired trustwallet in 2018, not two years ago.

Thank you. My memory called me to their TWT distribution on Binance and listing a few weeks later in 2020, not when Binance took over Trust wallet.

[Mpamaegbu]

I don't know about other wallets you listed in the OP but I can say a thing for Trust Wallet. Yes, I've read about it being a closed source type of wallet and many have pointed to that as its major vulnerability. However, I know I've been using TW for two years now or so and I haven't had any issues with it. My funds have remained intact. While I don't want anyone misquoting me on this, I'm just sharing my experience without mincing words

[hosseinimr93]

Weird that they can lie on their website because it is easy for developers to check a wallet is open source or close source.

Unfortunately, most people don't do that and they easily believe everything they read over the internet without validating the information.
Trustwallet has probably deceived many people in this way. Just google "Is trustwallet open-source?" and see the result.

[CryptoPanda]

I don't know about other wallets you listed in the OP but I can say a thing for Trust Wallet. Yes, I've read about it being a closed source type of wallet and many have pointed to that as its major vulnerability. However, I know I've been using TW for two years now or so and I haven't had any issues with it. My funds have remained intact. While I don't want anyone misquoting me on this, I'm just sharing my experience without mincing words

No one has been swindled yet. Your funds may be intact now but we can’t predict the future. FTX victims were once dedicated users who believed in the false security they were given by the company. Trust wallet imo has been compromised since Binance took over, if one day Binance comes under investigation and shuts down like FTX. What do you think will happen to Trust wallet? Is that a risk you’re willing to take?

[Mpamaegbu]

~snipped~

Trust wallet imo has been compromised since Binance took over, if one day Binance comes under investigation and shuts down like FTX. What do you think will happen to Trust wallet? Is that a risk you’re willing to take?

Do you have any evidence to that effect? Please, don't bad mouth another person's business on the ground of suspicion. You don't know how far reaching some of these comments can be on business owners. According to the principle of law, everyone is adjudged innocent until proven guilty. I don't own any share in Binance or TW but I'm simply stating my experience using either of them. I won't say something is bad just because others are saying so when I haven't had an unpleasant encounter with it. While I ain't vouching for TW, I also won't bad mouth it either.

[Outhue]

I have not seen anyone complaining about lose of funds using Trust wallet though I believe they are not fully open source like many think, instead the max amount of money or assets I keep on Trust wallet is limited, I still believe that Trust wallet is far safer than many crypto mobile wallets out there.

Trust wallet being closed source doesn't mean it's bad, it works better and it's been years since I installed on my smartphone.

[Smack That Ace]

I don't know about other wallets you listed in the OP but I can say a thing for Trust Wallet. Yes, I've read about it being a closed source type of wallet and many have pointed to that as its major vulnerability. However, I know I've been using TW for two years now or so and I haven't had any issues with it. My funds have remained intact. While I don't want anyone misquoting me on this, I'm just sharing my experience without mincing words

Not just you, TW has 10 million users, and so far no one has had a problem with it. The only downside of TW is that it is a closed source, and because of this people are afraid, they are afraid because if one fine day the parent company Binance collapses, that could happen to TW, and our assets are also at risk. That is also the downside of all closed source wallets on the market today, other than this everything else is perfect.
I also like using TW because it's easy to use but I only use it for shitcoins, say no to bitcoin and big assets.

[Cantsay]

Can trustwallet be hacked. can the owners take money of all the users?
Is it possible scanario that wallets like Trustwallet Blockchain info Exodus etc have control on the users funds?

Since you're talking about a closed source wallet then it is likely that they can get hack or perhaps the dev can add some malicious code to steal users funds who knows?
But in cases where your wallet it open source and has been inspected thoroughly to make sure there's no suspicious code that code lead to the users losing their funds. If such wallet is use them it will be almost impossible to get hack if the user is extremely careful about how s/he uses their system.

But if your are not sure of which wallet to go for you can just buy hardware wallet to increase the security of your funds.

[CryptoPanda]

~snipped~

Trust wallet imo has been compromised since Binance took over, if one day Binance comes under investigation and shuts down like FTX. What do you think will happen to Trust wallet? Is that a risk you’re willing to take?

Do you have any evidence to that effect? Please, don't bad mouth another person's business on the ground of suspicion. You don't know how far reaching some of these comments can be on business owners. According to the principle of law, everyone is adjudged innocent until proven guilty. I don't own any share in Binance or TW but I'm simply stating my experience using either of them. I won't say something is bad just because others are saying so when I haven't had an unpleasant encounter with it. While I ain't vouching for TW, I also won't bad mouth it either.

I’m not badmouthing Trust wallet or Binance. I have nothing to gain from it, I don’t know the evidence you’re looking for it’s not a secret that CZ took over Trust wallet. It’s only fair to say a problem with one will affect the other. Besides I’m just stating a big “if”, I’m not calling either companies a scam, I’m only stating the issues I have namely the fact that Trust Wallet is close sourced and that centralized exchanges are not safe to store one’s coins.