Conclusions of a research made by High-Tech Bridge company prove that 90% of existing mobile cryptowallets are insecure. They came to that decision after a detailed review of more than 2000 apps. After analyzing of the 30 first available apps the researchers found out that more than 90% of them have at least two insecure disadvantages.
During the process of exploring most popular apps with over 500,000 total installations High-Tech Bridge defined that they are a shade better and little bit more secure but also have minuses. 77% of them contain two “high-risk” disadvantages.
As the researchers noted, prevailing vulnerabilities are unprotected data storage and failures of encrypting systems. All these mistakes put information security in danger.
The founder of High-Tech Bridge Ilia Kolochenko conceives that such problems are the result of inadequate attention to safety and security of mobile apps. He added that it was only the tip of the iceberg.
A special company’s tool named Mobile X-Ray, which was used during the research, is at free access and any interested person can plug it in and check the security of crypto apps.