Infinito Wallet - AI risk analysis

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AI risk analysis - Infinito Wallet (2025-04-29 17:35:46)

Below is a detailed analysis of Infinito Wallet (official website: https://infinitowallet.io/) based on the requested criteria, including online complaints, risk assessment, website security, WHOIS lookup, IP and hosting analysis, social media presence, red flags, regulatory status, user precautions, and potential brand confusion. The analysis draws on available information, including web sources, and critically evaluates the data to provide a comprehensive overview.

1. Online Complaint Information ¶

Online complaints about Infinito Wallet reveal a mix of user experiences, with significant concerns raised in some cases:

Trustpilot Reviews (,):
Positive Feedback: Some users praise the wallet’s intuitive user interface, ease of navigation, and support for multiple cryptocurrencies. One user described it as “excellent and easy to use” with responsive customer service resolving issues within hours. Another highlighted support for major coins and a good Telegram community.
Negative Feedback:
Missing Funds: A user reported over 2.34 million USDT missing from their wallet, alleging potential fraud or a scam involving “custom tokens” not supported by Infinito Wallet. The company responded, claiming the issue was due to a scam by an external party and not their platform, as USDT was not supported at the time ().
Unresponsive Support: Complaints include unresponsive customer support, with one user unable to unstake Cosmos due to display issues and no response after a month. Another user claimed Infinito “stole” their Litecoin, labeling the company as criminal ().
Buggy Performance: Users reported increasing bugs over time, such as inability to transfer funds (showing zero transferable balance despite funds in the wallet), server errors, and staking issues. One user noted the website crashed frequently, and the chat support was unavailable ().
Abandonment Concerns: A user flagged that Infinito’s Twitter (now X) had not posted since December 2020, raising concerns about whether the project was abandoned ().
Other Platforms (,):
G2 reviews highlight the wallet’s intuitive UI and Binance integration but note minor bugs that don’t significantly affect usage ().
SourceForge and Slashdot reviews are limited but generally neutral, focusing on features rather than complaints (,).
Analysis: The complaints suggest serious issues for some users, particularly around missing funds, poor customer support, and platform reliability. While Infinito attributes some issues to external scams or user error (e.g., importing custom tokens), the lack of timely support and perceived abandonment (inactive social media) are concerning. Positive reviews indicate the wallet works well for some, but the severity of negative experiences raises red flags.

2. Risk Level Assessment ¶

Based on the available data, Infinito Wallet presents a moderate to high risk for users due to the following factors:

Security Concerns: While Infinito claims robust security (fingerprint ID, encrypted private keys, and third-party audits by SmartDec), vulnerabilities exist if a device is physically compromised (,). InsideBitcoins rated it as “not the safest wallet” due to insufficient regulatory oversight compared to alternatives like eToro ().
Complaints of Fund Loss: Allegations of missing funds, even if attributed to scams, indicate potential weaknesses in user education or platform safeguards against fraudulent tokens (,).
Operational Status: The announcement on infinitowallet.io that all functions except passphrase display were indefinitely suspended (as of October 2020) suggests the project may be dormant or abandoned, increasing risk for users relying on the platform ().
Lack of Regulation: Infinito is not regulated by any financial authority, though it partners with Coinfirm for AML/CTF compliance (). This lack of oversight increases risk in a high-stakes environment like cryptocurrency.
Risk Level: Moderate to High. Users face risks from potential platform abandonment, unresolved complaints, and limited regulatory protection. Caution is advised, especially for users storing significant assets.

3. Website Security Tools ¶

An analysis of the website’s security (https://infinitowallet.io/) reveals the following:

SSL/TLS Certificate: The website uses HTTPS, indicating an SSL/TLS certificate is in place to encrypt data in transit. This is standard for crypto wallets but does not guarantee overall platform security.
Security Audits: Infinito Wallet underwent a third-party security audit by SmartDec in 2018, which identified minor issues (e.g., unencrypted storage of non-sensitive data like public addresses). These were reportedly resolved, but vulnerabilities requiring physical device access remain a concern (,).
Security Features ():
Password Protection: The wallet requires a user-provided password to encrypt private keys.
Fingerprint ID: Adds a layer of biometric security.
Private Key Encryption: Keys are stored locally on the user’s device, not on centralized servers, reducing the risk of server-side hacks.
Potential Weaknesses: The SmartDec audit noted that unencrypted storage of non-sensitive data (e.g., contact lists) could allow an attacker with physical access to manipulate addresses. Users are advised to avoid rooted/jailbroken devices and protect physical access to their phones ().
Analysis: The website and wallet incorporate standard security measures, but the reliance on device security (e.g., physical access risks) and lack of recent audits (post-2018) are concerns. Users must ensure their devices are secure to mitigate risks.

4. WHOIS Lookup ¶

A WHOIS lookup for https://infinitowallet.io/ provides the following insights (based on typical WHOIS data, as specific details are not provided in the references):

Domain Name: infinitowallet.io
Registrar: Likely a standard registrar like GoDaddy, Namecheap, or similar, as .io domains are commonly used for tech projects.
Registration Date: The wallet launched in December 2017, suggesting the domain was registered around that time or earlier ().
Registrant Information: The registrant is likely Infinity Blockchain Labs, registered in the Isle of Man (,). WHOIS privacy protection may hide specific details, which is common but can reduce transparency.
Domain Status: Active, as the website is accessible, but the suspension of most wallet functions () raises questions about ongoing maintenance.
Analysis: The domain is associated with a legitimate entity (Infinity Blockchain Labs), but privacy protection and lack of recent updates may obscure ownership details. The .io domain is reputable but sometimes used by less-regulated projects, warranting caution.

5. IP and Hosting Analysis ¶

While specific IP and hosting details are not provided in the references, we can infer the following based on standard practices and available data:

Hosting Provider: Likely a cloud provider like Amazon Web Services (AWS), Google Cloud, or a specialized hosting service, given the technical requirements of a crypto wallet website. The Isle of Man registration suggests possible hosting in Europe or a nearby jurisdiction.
IP Location: Likely aligns with the hosting provider’s data centers (e.g., EU or UK-based servers).
Security Implications: Hosting on a reputable cloud provider would offer DDoS protection and scalability, but the website’s security depends on proper configuration. No reports of website hacks were found, but the suspension of wallet functions () suggests limited ongoing maintenance.
Content Delivery Network (CDN): The website may use a CDN like Cloudflare for performance and security, as is common for crypto platforms.
Analysis: Without specific IP/hosting data, we assume standard hosting practices. The lack of recent activity (e.g., social media posts, website updates) suggests the infrastructure may not be actively maintained, posing risks for users relying on the platform.

Infinito Wallet’s social media presence is a significant concern:

Twitter/X: The last post was in December 2020, as noted by a user on Trustpilot, raising fears of project abandonment (). Inactive social media is a red flag in the crypto space, where active communication is expected.
Telegram: Users mention a Telegram group with good feedback, suggesting some community engagement (). However, the activity level is unclear.
Other Platforms: No recent activity was reported on platforms like Reddit, Medium, or LinkedIn, though older posts exist (e.g., Medium posts from 2018 about security audits) (,).
Red Flags:
Inactivity: The lack of social media updates since 2020 is highly concerning, as active projects typically maintain regular communication.
Suspicious Reviews: Some users suspect positive reviews may be biased or from a specific demographic (e.g., Vietnamese users), though this is unverified ().
Lack of Transparency: Inactive social media reduces transparency about the project’s status and updates.
Analysis: The dormant social media presence is a major red flag, suggesting the project may be abandoned or minimally maintained. Users should approach with caution, as active community engagement is critical for crypto wallets.

7. Potential Risk Indicators ¶

The following risk indicators emerge from the analysis:

Project Abandonment: The suspension of all wallet functions except passphrase display () and inactive social media () suggest the project may be dormant.
Fund Loss Complaints: Allegations of missing funds, even if attributed to scams, indicate potential vulnerabilities or inadequate user protections (,).
Lack of Regulation: No financial regulatory oversight increases risk, despite AML/CTF partnerships ().
Security Limitations: Vulnerabilities requiring physical device access and lack of recent audits (post-2018) are concerns (,).
Poor Support: Unresponsive or unavailable customer support reported by multiple users ().
High Transaction Fees: Some users complained about high fees compared to other wallets, which could deter frequent traders ().
Analysis: These indicators collectively point to a high-risk profile, particularly for users storing significant assets or relying on active support.

8. Website Content Analysis ¶

The official website (https://infinitowallet.io/) contains the following key content (based on available data and typical crypto wallet websites):

Purpose: Promotes Infinito Wallet as a multi-asset universal wallet supporting Bitcoin, Ethereum, Litecoin, and smart contract tokens (e.g., ERC20, NEP-5) ().
Features Highlighted (,):
Price optimization for transaction fees.
Support for over 1,000 coins/tokens.
DApp browser (App Square) for accessing decentralized applications.
QR code scanning, Touch ID, and transaction history export.
Staking rewards and weekly investment contests (demo accounts).
Security Claims: Emphasizes password protection, fingerprint ID, and encrypted private keys stored locally ().
Suspension Notice: A critical announcement states that all functions except passphrase display are indefinitely suspended ().
Design and Usability: Users praise the clean, intuitive UI, though some report bugs and slow performance (,).
Analysis: The website markets Infinito as a feature-rich wallet but is undermined by the suspension notice, which suggests limited functionality. Claims of security and usability are positive but outdated given the lack of recent updates and reported issues.

9. Regulatory Status ¶

Infinito Wallet’s regulatory status is limited:

Registration: Registered in the Isle of Man by Infinity Blockchain Labs, which provides some legitimacy but not financial regulatory oversight (,).
Regulation: Not regulated by any financial authority, unlike wallets like eToro that operate under existing oversight (). It partners with Coinfirm for AML/CTF compliance and follows KYC/AML practices for transactions ().
Transparency: The source code is open-source, allowing external audits, which is a positive step (). However, the lack of recent audits or regulatory compliance updates is concerning.
Analysis: The absence of financial regulation is a significant risk in the crypto space, where regulatory oversight can protect users. The Isle of Man registration and AML/CTF partnerships provide some credibility, but they do not substitute for formal regulation.

10. User Precautions ¶

To mitigate risks when using Infinito Wallet, users should take the following precautions:

Verify App Authenticity: Download the app only from official app stores (Google Play, App Store) and confirm it is developed by Infinity Blockchain Labs Europe ().
Secure Devices: Avoid using rooted/jailbroken devices, enable device locks, and never leave the wallet open on screens displaying passphrases (,).
Protect Private Keys: Store the 12-word passphrase securely offline and never share it. Be cautious of phishing attempts requesting keys or phrases (,).
Research Tokens: Avoid importing custom tokens, as they may contain malicious code (e.g., the USDT scam reported on Trustpilot) ().
Monitor Activity: Regularly check transaction history and revoke permissions for unknown addresses to prevent unauthorized withdrawals ().
Use Small Amounts: Given the risk of fund loss and platform abandonment, store only small amounts in Infinito Wallet until its operational status is clarified.
Check Updates: Monitor the website and official channels for updates on the suspension of functions. Consider alternative wallets if no progress is reported.
Analysis: These precautions are critical given the reported issues and uncertain project status. Users must prioritize device and key security to minimize risks.

11. Potential Brand Confusion ¶

Infinito Wallet may face brand confusion with other crypto wallets or platforms, particularly due to similar names or functionalities:

Infinity Wallet (infinitywallet.io): A separate entity often confused with Infinito Wallet. Infinity Wallet is marketed as a DeFi-focused wallet (,). User reviews on Trustpilot sometimes conflate the two, as seen in references to “Infinity Wallet” when discussing Infinito (). This confusion is exacerbated by similar branding and overlapping features (e.g., multi-coin support, DeFi integration).
WalletConnect Scams: Malicious apps posing as WalletConnect (e.g., “WalletConnect - DeFi & NFTs”) have stolen funds by mimicking legitimate wallets (,). Users may mistake Infinito Wallet for such scams, especially if downloading from unofficial sources.
Other Universal Wallets: Wallets like Trust Wallet, Exodus, and Zengo offer similar multi-asset support, potentially leading to confusion (,). For example, Trust Wallet’s focus on decentralization and privacy mirrors Infinito’s claims ().
Vietnamese Association: Some users suspect Infinito’s user base is primarily Vietnamese, possibly due to Infinity Blockchain Labs’ ties to Vietnam (,). This could lead to confusion with other Vietnamese crypto projects.
Analysis: Brand confusion with Infinity Wallet and scam apps like WalletConnect is a significant risk. Users must verify the official website (https://infinitowallet.io/) and app developer to avoid falling for impostors or unrelated platforms.

Conclusion and Recommendations ¶

Infinito Wallet presents a moderate to high risk for users due to its suspended functionality, serious user complaints (e.g., missing funds, unresponsive support), lack of regulatory oversight, and inactive social media presence. While it offers robust features like multi-coin support, price optimization, and security measures (e.g., fingerprint ID, encrypted keys), the project’s apparent abandonment and unresolved issues outweigh these benefits. Recommendations:

Avoid for New Users: Given the suspension of most functions () and risk indicators, new users should consider more active and regulated alternatives like Trust Wallet, Zengo, or eToro (,).
Existing Users: Transfer assets to a more reliable wallet if possible, as the platform’s dormant status increases risks. Follow the user precautions outlined above to secure funds.
Monitor Developments: Check the official website for updates on the project’s status. If no progress is made, assume the project is abandoned.
Verify Sources: Use only the official website (https://infinitowallet.io/) and app stores to avoid brand confusion with Infinity Wallet or scam apps. Final Note: The cryptocurrency space is inherently risky, and Infinito Wallet’s current state amplifies these risks. Users must exercise extreme caution and prioritize security to protect their assets. If you need further details or specific analyses (e.g., deeper WHOIS/IP data), please let me know!