3
What keeps a person or company from creating an app like Armory but if you select "import or restore wallet" just emailing them your wallet key after you enter it and draining your account?
What keeps someone from creating a malicious wallet app?
Answers
4
Answer: Nothing
Even with the most secure system, you're still trusting their developers.
Remember, secure encryption is not cracked, it's bypassed.
So, seems actually far less secure than a pile of money under my matress. most people won't break in your house and steal your money. – Mr. Manager – 2013-12-04T21:36:06.997
Yes. The Bitcoin protocol is provably secure (provided holes aren't found in the encryption protocols). If you ever lose Bitcoins, it's almost a certainty someone obtained the private key rather than cracked the encryption. – John – 2013-12-05T01:24:57.763
I just happened to see the answer. Only use an app on a pc live booted and offline. – Mr. Manager – 2013-12-04T20:28:18.987
1This is not specific to wallets. Someone can create an application or program of any kind that logs your banking/financial passwords and emails them to the software's developers. If you use a machine for banking or financial transactions, you can't run untrusted software on it. – David Schwartz – 2013-12-04T22:34:39.230