How come there is no security for the WAVES Wallet (Android)

It asks for PIN and Password, etc. however if you log out, you can log in again without using the PIN/Password. This seems like a very obvious security flaw.
Is there an update or fix coming soon?
It's been a very long time many new exchanges has comes out, it's time for waves to fix or give us a big update, I still don't give up on this project, I'm hoping they will become the next big ethereum like many experts are predicting.