Quote from: Bitcoinislife09 on Today at 11:24:46 PM

Quote from: mocacinno on Today at 07:30:35 AM

Quote from: Greatchu on Today at 07:23:06 AM

This is about coinomi wallet, I came across few posts on this forum saying they lose coins in coinomi wallet, some said coinomi wallet team insert a backdoor in the wallet to steal people's fund, how true is this?

Second question is, can you get me the list of open source wallet since coinomi wallet is closed source? What about trust wallet is it truly an open source wallet? Thanks

You can read all about the vulnerability here: https://bitcointalk.org/index.php?topic=5114708.0

If that's TL;DR; here's the short version:
It's not a backdoor, they used a library and didn't configure it properly, because of this the seed phrase was sent to google for spell-checking.
Eventough it was sent over SSL, somebody in google's HQ with access to the logs could easily parse them and find the unencrypted version of the seed.

There was a big discussion between coinomi and their victim, and in my opinion, coinomi took the low road... They defenately didn't handle the situation as they should have.

I would never touch coinomi with a foot pole. Making mistakes is human, bugs happen, but the way they reacted made me have an instant dislike for their company.

If you're holding a lot of different altcoins, you might aswell go for a ledger or a trezor instead of meddeling with closed source wallets stored on your smartphone (do look at the list of altcoins they support out of the box... )

Holding your bitcoin for a long period takes a very firm privacy wallet. Many issues has been raised due to coinomi wallet, many are complaining because they are loosing coins at coinomi. With regards to using coin wallets there are many trusted bitcoin wallet aside from coinomi, you may research and have surveys about the trusted coin wallet so that you can make sure that your coins are in good hand. You may be cool enough in making your coins in hugher value through the trusted coins wallet that you will choose.

Unfortunately users still make mistakes when storing or backing up their seeds, which is the cause of such reports of lost coins. They can be found for any wallet. Coinomi is the largest and oldest multicoin wallet and has an enormous userbase. It will expectedly have its share of reports, as much as we try to educate our users about their security. You can read about the ways we protect users funds here: https://coinomi.freshdesk.com/support/solutions/articles/29000016248-how-safe-are-my-funds-how-are-my-private-keys-stored-. Since you mentioned privacy, you may also want to check out our privacy features: https://coinomi.freshdesk.com/support/solutions/articles/29000030207-what-are-coinomi-s-privacy-features-