Hoping you guys can add ownership confirmation of mnemonic phrase / key store sending OTP or Code via email/phone…
I believe in this case, even you accidentaly share your phrase/ password/whatsoever…they cannot access your wallet because they still need ownership confirmation…
9 Likes
Make sure you have a backup of your phrase offline in a safe area.
For me, i activated biometrics to authorize all my transaction on Trustwallet
2 Likes
Thanks for replying my friend, but even you back up and activated your biometric to authorized all your transactions if they got your 12 mnemonic phrase/key…they can still override/nullify/ and take full control all your existing info like password, 2fa, etc…
What i mean is if they can only add Ownership Confirmations of the said mnemonic phrase/ keystore/ etc…i think our funds are more safer…(just a thought)
3 Likes
Wow
That’s a good idea
I think Trustwallet developers will look into it.
1 Like
That would have defeated the sole aim of decentralization itself.
The security measures of mnemonic keys phrase are enough security @bithopper
1 Like
Yes that’s correct brother, but what if you accidentally given or shared to someone your mnemonic key phrase?
What i’m trying to say is a proof or confirmation that you owned those secret words or phrase by means of sending CODE/OTP to your binded email or phone ect…
In other words…even they had your password/mnemonic phrase/key, they still need to reconfirm…@InvestorAwesome
2 Likes
I understand your view point but I don’t if that will be considered, that’s why it’s important we keep our recovery phrase safe.
1 Like
We are missing on understanding the basic feature of the TrustWallet which is a non-custodial wallet. Your Mnemonic phrase /Private key is the supreme authority of your account that applies at the blockchain.
To make it clear, your funds are never in a wallet, your wallet is a way you see your Blockchain address and trigger transactions - it is the UI that makes you believe that you have funds.
TrustWallet already has additional security measures for opening/transacting which helps in hiding your Mnemonic phrase / Private key but once it is exposed, your wallet can be imported by anyone and used.
3 Likes
You are correct bro…but when are exposed? you cannot do anything anymore, wright?
So, before they can import or manipulate everything, they must pass through reconfirmation or proof that you solely owned that mnemonic phrase/private key…
2 Likes
Unfortunately, none of the Blockchains support this functionality.
1 Like
I think vipul is right about the otp as most of the bank do this security measures to secure the transcation over the web or Internet.
1 Like
That is the essence of decentralization in crypto seeking to eradicate all forms of third part and all if that is done then it doesn’t make it different rather you authenticating transaction right from your device is safer than using OTP.
Trust wallet should used more security features like 2FA,email confirmation or mobile verification code…or most importantly they should use Google authentication features.thanks
1 Like
@bithopper this issue you raised has been on my mind ever since. Just like Binance, Trust Wallet should add Email anbhd Mobile Number authentication. With that, it’ll be hard for someone to lose their funds in case they exposed their mnemonic phrase.
1 Like