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Moon Wallet

Latest release: 1.2.1 ( 2nd September 2021 ) 🔍 Last analysed 21st October 2022 . No source for current release found Not updated in a while
3.4 ★★★★★
121 ratings
10 thousand
26th July 2021

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Do your own research!

Try out searching for "lost bitcoins", "stole my money" or "scammers" together with the wallet's name, even if you think the wallet is generally trustworthy. For all the bigger wallets you will find accusations. Make sure you understand why they were made and if you are comfortable with the provider's reaction.

If you find something we should include, you can create an issue or edit this analysis yourself and create a merge request for your changes.

The Analysis 

Notes It should be noted that this wallet has a similarity in name to:
Muun: Bitcoin Lightning Wallet Unreproducible! Review Outdated!

App Description

From Google Play:

We created Moon Wallet with the main goal of being a smart assistant that will alert and provide solutions every time we perceive you may be at risk.

Based on a blacklist of more than 20,000 addresses of hackers, scammers, we will send you alerts every time you receive money from them, or hold tokens in projects related to them.

Moon Wallet says that users can also manage and store digital assets such as BTC or ETH.

The Site

For more information on security, the site says that users are provided with a seed phrase.

If I lose my seed phrase, can Moon wallet help me recover my wallet? No, we don’t keep your information, so we can’t help you recover your wallet if you lose your seed phrase. Therefore, back them up carefully.

From Terms and Services:

You are solely responsible for storing outside of the Services a backup of any Wallet address and private key pair that you maintain in your Wallet. Maintaining an external backup of any Wallet address and private key pairs associated with your Wallet will allow you to access the Ethereum Networks upon which your Wallet is secured. Such a backup will allow the user to fully restore their Wallet at any time without cost or loss of the user’s Virtual Currency. If you do not maintain a backup of your Wallet data outside of the Services, you will be not be able to access the Virtual Currency associated with your Wallet.

The App

We downloaded and installed the app. We were able to access the 12-word seed phrase. An import option is also available.

Verdict

While this is a non-custodial wallet, there is a lack of any source code available for review. Moon Wallet is not verifiable.

(dg)

Verdict Explained

Without public source of the reviewed release available, this product cannot be verified!

As part of our Methodology, we ask:

No Source!

Is the source code publicly available?

If the answer is "no", we mark it as "No source for current release found".

A wallet that claims to not give the provider the means to steal the users’ funds might actually be lying. In the spirit of “Don’t trust - verify!” you don’t want to take the provider at his word, but trust that people hunting for fame and bug bounties could actually find flaws and back-doors in the wallet so the provider doesn’t dare to put these in.

Back-doors and flaws are frequently found in closed source products but some remain hidden for years. And even in open source security software there might be catastrophic flaws undiscovered for years.

An evil wallet provider would certainly prefer not to publish the code, as hiding it makes audits orders of magnitude harder.

For your security, you thus want the code to be available for review.

If the wallet provider doesn’t share up to date code, our analysis stops there as the wallet could steal your funds at any time, and there is no protection except the provider’s word.

“Up to date” strictly means that any instance of the product being updated without the source code being updated counts as closed source. This puts the burden on the provider to always first release the source code before releasing the product’s update. This paragraph is a clarification to our rules following a little poll.

We are not concerned about the license as long as it allows us to perform our analysis. For a security audit, it is not necessary that the provider allows others to use their code for a competing wallet. You should still prefer actual open source licenses as a competing wallet won’t use the code without giving it careful scrutiny.

But we also ask:

Stale!

Was the product updated during the last year?

If the answer is "no", we mark it as "Not updated in a while".

Bitcoin wallets are complex products and Bitcoin is a new, advancing technolgy. Projects that don’t get updated in a year are probably not well maintained.

This verdict may not get applied if the provider is active and expresses good reasons for not updating the product.

The product cannot be independently verified. If the provider puts your funds at risk on purpose or by accident, you will probably not know about the issue before people start losing money. If the provider is more criminally inclined he might have collected all the backups of all the wallets, ready to be emptied at the press of a button. The product might have a formidable track record but out of distress or change in management turns out to be evil from some point on, with nobody outside ever knowing before it is too late.