How safe are the wallet apps we are using?

[boyptc]

Always I update apps from the official website or from the Play Store directly. Never update apps from the apps notification; it’s not for Trezor, for all the wallets I have been using. I have Trezor as well, but I always update this way. Always you have to make sure your apps are downloaded or updated from the official source.

The only danger that I see this if the user goes directly to the play store and falls for the fake downloadable app wallet. That is because cloning is rampant there and google play store takes time to remove those fakes.

But as long as you know what you're doing and you know which one are the official source even in the play store, you should be fine.

And if this has been working for you for years, you have no problem with it. Although for the newbies, they better be careful if they'd go to play store and only source the download from the official website.

[Agathamay]

Hey guys,

This might sound delusional, but I think a year ago we would have found it delusional to put a eSIM in Ledger devices too. My question is: how safe is the Trezor Suite app we are using? I mean is it possible for hackers to put something into the app to follow other people’s activity etc?

Please tell me the reason if my question is not a valid one.

p.s. I used Trezor as an example because I have one, but I’m asking this question about all wallet apps.

As long as you download the app from the right source you're good and as long as your device is not corrupted the you don't have any need to panic and as long as it is the internet, there is always room for every possibility and I would add that, we should always try to add another layer of security to our Wallet especially if it is an online wallet and using atleast 2FA will always do us greater good.

[Justbillywitt]

If that hackers targets, that won't be your fault, and many if you are affected, you'll be compensated, I think Trezor will like to do that.

You think, or you saw where Trezor developers made such promises of compensation to their users, if something like hack happens due to their own negligence? Stop giving people false hope on something you are not sure of. Let’s just hope for the best that nothing like hack ever happens to Trezor wallet. But if you haven’t seen where there was any promise of refunds, don’t even think of it, because it won’t happen. If there was going to be anything like that, it would have been in the user agreement.

[Cookdata]

Hey guys,

This might sound delusional, but I think a year ago we would have found it delusional to put a eSIM in Ledger devices too. My question is: how safe is the Trezor Suite app we are using? I mean is it possible for hackers to put something into the app to follow other people’s activity etc?

Please tell me the reason if my question is not a valid one.

p.s. I used Trezor as an example because I have one, but I’m asking this question about all wallet apps.

This reminds me of fake sparrow wallets that was uploaded on Appstore that stole Bitcoin from users. Many people downloaded a fake wallet. Even though there wasn't a mobile version of sparrow, I think if there is a way people can verify software wallet, it would have been helpful.

If have three software wallets on my laptop which are Bitcoin core, Electrum and Sparrow wallet and I can tell you that the three don't get install until I verify the check sum and the signature file before I install and used them. Not just wallets alone, you should do that with some apps you want to install on your computer.

Trezor apps are downloaded from the official website and they are safe, although scammers can fake websites and clone it but Trezor suite can't access your keys from your hardware. I don't know if there has been any attempt to extract the keys from hardware wallet from fake Trezor suite app.

You can always connect your hardware wallet with Sparrow and electrum if you are not sure of Trezor suite, since you can verify them and be sure of what you downloaded.

[taufik123]

Hey guys,

This might sound delusional, but I think a year ago we would have found it delusional to put a eSIM in Ledger devices too. My question is: how safe is the Trezor Suite app we are using? I mean is it possible for hackers to put something into the app to follow other people’s activity etc?

Please tell me the reason if my question is not a valid one.

p.s. I used Trezor as an example because I have one, but I’m asking this question about all wallet apps.

Now if you have to answer about the security of a Digital application like the digital wallet you use for Trezor, it will be safe as long as you secure it properly,
the connected device is not compromised and there are no implants whatsoever on your Trezor device as is the case with Ledger.

Especially if you install your main eSIM on the newly launched ledger device, namely Ledger Atom,
it will be very risky, once you hack everything will disappear because the eSIM will also be controlled and all notifications received by the eSIM will also be intercepted.

Do not combine the device with your personal data, keep it secure and use an eSIM if you must use it.

and for Open Source Digital Applications such as Electrum, it is safe because everything is Open Source, open to all and the data code is accessed and verified.
I am an electrum user from the beginning to the present.

[2Pizza410000BTC]

Hey guys,

This might sound delusional, but I think a year ago we would have found it delusional to put a eSIM in Ledger devices too. My question is: how safe is the Trezor Suite app we are using? I mean is it possible for hackers to put something into the app to follow other people’s activity etc?

Please tell me the reason if my question is not a valid one.

p.s. I used Trezor as an example because I have one, but I’m asking this question about all wallet apps.

Actually I have no idea about this, because I do not use any Ledger wallet or Treasure wallet. But for as long as I have been associated with Bitcoin and cryptocurrency, I can say that I have been using Trust Wallet and SafePal wallet of the same serial. But as far as I know, I am still safe, I have not had any problems. But of course we have to ensure maximum security, no mistakes can be made because there is no solution to making a mistake, because in this era of AI, the impossible is becoming possible.

[Eldestyoung]

I think this is a genuine concern. Most of us pay attention to protecting our seed phrases and private keys but we rarely think about the security of the wallet applications we use every day, even with a hardware wallet, we still rely on companion apps to check balances, manage transactions and monitor our activities.
If such an application gets compromised, it could potentially expose our transaction history, public addresses and other personal information.
It may not necessarily give hackers access to our private keys but it could still create serious privacy and security risks. I believe securing our crypto should go beyond protecting our seed phrases, we also need to understand and trust the software we use to manage our funds.

[HelliumZ]

Hey guys,

This might sound delusional, but I think a year ago we would have found it delusional to put a eSIM in Ledger devices too. My question is: how safe is the Trezor Suite app we are using? I mean is it possible for hackers to put something into the app to follow other people’s activity etc?

Please tell me the reason if my question is not a valid one.

p.s. I used Trezor as an example because I have one, but I’m asking this question about all wallet apps.

Using a Bitcoin wallet and its security will mainly depend on the user. If the user downloads the Bitcoin wallet from the official site and saves the seed-phase properly and does not share it with anyone, then his wallet will be protected from unwanted situations. However, it should be remembered that your Bitcoin can bring danger to you at times. Especially if you talk about having Bitcoin in public, it can become dangerous for you. Therefore, it is better not to tell anyone about your wallet and it is also better not to reveal the amount of Bitcoin you have in a public place.

[joniboini]

we also need to understand and trust the software we use to manage our funds.

I think it's good practice to stick with open source apps because of this. At the very least, we'll be able to build and test the app ourselves instead of relying on a third-party. While we still need some skill to do this, the barrier to entry is lower compared to before. Always checking downloaded files hash, PGP, and so on is also necessary. I'm sure a lot of people know but sometimes don't practice it for various reasons. With the increasing number of hacks, it's not a bad idea to start doing so (and improve it).

That being said, I'm not the kind of guy who download an extension of an extension for a wallet app regularly. I don't think anyone should do that either tbh.

[Nothingtodo]

I used to use an exchange wallet and it's been about a week since we all know that Binance Exchange was hacked. So an exchange wallet is never safe for an investor or a holder.
However, if both software wallets or hardware wallets are properly secured, they can be safe from hacks. But be careful, if you lose your wallet or the security seed phase is stolen, there will be nothing you can do.

[Findingnemo]

You never know, even if it is an open-source one, you can't unless you know how to verify the code yourself. AFAIK, Electrum is safer option when we use it on a completely offline device and ever since the Ledger incident- not this recent one but we actually had them in the past I am really paranoid of using the hardware wallets.

[sokani]

Hey guys,

This might sound delusional, but I think a year ago we would have found it delusional to put a eSIM in Ledger devices too. My question is: how safe is the Trezor Suite app we are using? I mean is it possible for hackers to put something into the app to follow other people’s activity etc?

There is been cases where people lose their funds through malicious wallet apps and what happened was that they downloaded a malicious apps, input their seed phrase and the rest is history. But as long as you download from the official website, you have nothing to worry about. Also, it's worth pointing out that the seed phrase should ONLY BE ENTERED ON THE DEVICE, and not the app.

[X-ray]

How do we even know something is safe if we couldn't know what vulnerabilities still haven't yet discovered.

The reason I use Trezor is because the wallet is open source.

But I also realized that an unknown vulnerability might be lurking that we don't know of.

The only reassuring thing is the routine security patch update that we're getting. Beside that, a wallet is safe until it isn't.

If you want to break free from this kind of wallet specific exploit, try multi signature setup with multiple different hardware wallets.