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The 1inch Wallet security explained

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by 1inch Network

• 3 min read

The approach used in securing the 1inch Wallet guarantees the protection of users’ funds at all levels, making it the safest non-custodial cryptocurrency wallet in the market.

Security is one of the top priorities in providing a convenient and user-friendly service for the 1inch Wallet users. As a non-custodial wallet, it is, overall, much safer than custodial ones, since all keys and passphrases are kept by users and not by third parties. In the latter case,security vulnerability could lead to stolen data. Plus, even if something hypothetically happens to a non-custodial wallet, users can utilize their keys to regain access to their funds with another wallet.

Still, even non-custodial wallets differ in the levels of safety, and the way developers implement security solutions defines the possibility of aftermath caused by threat actors.

Wallets will always be a prime target for cybercriminals, and since they contain users’ private keys, the 1inch Wallet has taken steps to keep customers’ funds in an extremely secure environment.

Code security is always a top priority for developers

Code comes first. Some of the recent sensational attacks ended up bringing harm to wallets due to compromised mobile libraries or code design. Like every properly developed engine guarantees a safer journey, properly designed code ensures preventing hacker attacks. Many applications face third-party developer and code vulnerabilities. In both open-source and closed-source libraries, there is a risk, such as a bug, which can occur due to the lack of proper third-party code testing. In the 1inch Wallet, no unchecked or untested code is used, its code is reliable and secure.

Blue Frost, a major security and audit service provider, ensures wallets’ high-level safety

Strong core data protection is achieved by multi-step manipulations applied to advanced reverse engineering techniques which Blue Frost Security handles for the 1inch Wallet. It is one of the leading cybersecurity companies, which has identified vulnerabilities in Microsoft, Huawei and Samsung products. Blue Frost conducts wallet audits by performing testing, automated static analysis and manual code review in order to analyze its weaknesses in compromises, loss of user finances and unexpected behavior. The audit team knows almost all kinds of hacker tactics and simulates real manual attacks to check if some vulnerabilities could be potentially exploited by malicious actors. In case some weaknesses are found, they are re-audited after eliminating the issues that have caused the vulnerability.

Protection against tamper and reverse engineering

The hacker’s favorite methods include tampering and reverse engineering. Tampering causes a serious threat to mobile apps because it aims to change either the app itself or its behavior. Malicious actors tamper with the application in order to figure out how to bypass the logic behind the design. In a hope to reach sensitive data, hackers need to know where to search for it in the application, which encourages them to engage in reverse engineering. As they are familiar with common structures in compiled code, they use complex techniques such as putting artificial bugs or static analysis in order to comprehend the structure of the code. With that in mind, the 1inch Wallet’s developers ensured strong protection against such threats.

There is no way hackers can get access to users data and private keys

The 1inch Wallet protects data by using side encryption for both iOS and Android users.

As a result, users don’t need to deal with open keys at all, the compromise of which appears to be a common reason for security threats. Thus, the 1inch Wallet leaves hackers no possibility of stealing something even in case of direct access to users’ devices while they won’t be able to pass Biometric Authentication.

Besides storing no open keys, there is an extra backup files’ protection. These files are crucial for the app since they enable global saving of the information of the 1inch Wallet itself and all imported wallets. Backup files are encrypted with the most advanced and reliable algorithms so that no one except the user knowing the password can decrypt them and get access to the saved data.

Thus, the 1inch Wallet provides all the best current security options for users, surpassing the protection level of many big-name exchange wallets.

Meanwhile, the Bug Bounty program offers monetary rewards for those who identify vulnerabilities in the 1inch Wallet security and report them via this form.

Since the majority of crypto wallet hacks happen as a result of directly sent viruses or disclosed seed phrases, you should still remain cautious and be aware of potential phishing attacks and other actions performed by malicious actors. However, you can feel safe when using the 1inch Wallet and just benefit from its features when trading and swapping, as thoroughly explained in this article.

You can fully enjoy the 1inch Wallet experience which is available for both iOS and Android by installing it here.

Stay tuned for more articles focusing on 1inch products!

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