Monero Wallet Undergoes Security Audit for Risk Mitigation
XMRWallet stated that it just went through a successful security review done by an independent provider, which established that “a number of potential vulnerabilities” have been solved, with their risks diminished.
The Monero web wallet’s system was inspected by New Alchemy, an advisory group that specializes in blockchain strategy and technology. On June 2018 they conducted tests to detect security issues in the application’s web traffic and user interface which could have affected reliability.
New Alchemy’s report contained:
“The XMRWallet application exhibits a high-quality user experience, a modern development approach, and a clear separation of client and server functionality. However, the security review has identified a number of potential vulnerabilities.”
After retesting XMRWallet was advised on how to moderate certain problems. New Alchemy stated that all seven critical bugs had been resolved. All of the moderate issues were addressed, apart from one which was reclassified as a “general concern” from a security issue. Three minor problems were also solved, and three more were partially fixed or labeled as “informational.”
“The XMRWallet application provides an excellent and intuitive user interface. Each aspect of the application was exercised, including value transfers to and from multiple counter-parties. The code organization and development process facilitated understanding how components fit together. A key strength of the application is minimal endpoints, minimal external data dependencies and minimal unrelated web traffic,” read the report.
New Alchemy concluded from its general assessment that no “major code rip-up” was needed to solve the issues, but they would lead to a “significant uplift in application trustworthiness.”
The tests were made after XMRWallet after the implementation of a set of new features, such as being able to set an automatically-updated XMER/USD balance view. The confirmation window that pops up before a transaction or transfer is completed.
Nathalie Roy, XMRWallet’s founder was driven to release the platform after it used MyMonero and decided that there were a few features that could need some improvements. She also was of the opinion that XMRWallet could further the decentralization process — providing a backup plan in the eventuality of other wallets becoming unavailable.
Users can instantly create accounts on the platform, and it currently offers support for 10 languages. The wallet also claims it traders will be able to send and receive Monero faster.
XMRWallet.com considers itself to be an “open-source web environment” for Monero wallets, and the platform has sworn to keep its “free for all” status, counting on donations to hold up its services.