ElysiumLab's biometric digital asset wallet app: uncovering the hidden layers of biometric security

In the fast-paced world of fintech, keeping ahead of the curve is crucial, especially when it comes to protecting digital assets.

That’s why ElysiumLab has caught our attention.

They’ve recently launched their crypto wallet app, and it’s truly making waves.

What sets it apart?

It features an identification system that creates a unique passkey for wallet access, taking security to a whole new level. They are developing a technology that, instead of extracting the randomness from the device and then creating a cryptographic key, extract entropy from the user, bounding the user itself with its identity on chain.

It’s a bold step forward in a space where safety is everything but also usability needs to be addressed as a potential issue right now for non custodial wallets.

That’s what led me to connect with the ElysiumLab team and learn more about their groundbreaking technology.

Through AdFulcon, we stressed the app to a Vulnerability Assessment and Penetration Testing (VA-PT), a critical process designed to evaluate how safe a system really is.

We have been the opportunity to witness and review the analysis, breaking it down for our readers while offering some insider perspectives on what this means for the future of secure Bitcoin and stablecoin transactions.

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Why VA-PT Matters

Vulnerability Assessment and Penetration Testing (VA-PT) is the gold standard for assessing the strength of any system's defenses, whether it's an application or anything exposed online.
The process itself could appear complex, but at its essence, VA-PT is a clear and structured two-step approach:
Vulnerability Assessment (VA): This phase involved scanning and examining the app’s infrastructure, the code, APIs, and software architecture to identify any existing vulnerabilities. Think of it as a deep inspection—scanning for cracks in the system before hackers can find them.

Penetration Testing (PT): Once those cracks or minor bugs are identified, it’s time to see how they could be exploited. AdFulcon Penetration testers simulate real-world attacks, trying to break into the system just as a malicious hacker would. For ElysiumLab, this involved testing the biometric system, passkey generation, transaction encryption, and even searching for local copies of keys that might be lost or exposed within the filesystem.

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‍Breaking Down the Analysis: A Step-by-Step Journey

We followed ElysiumLab’s security team through the VA-PT process, and here’s how it all went down:

Scope and Threat Modeling: The team defined the areas for analysis, including how secure the algorithm  data was, potential API vulnerabilities, and possible design flaws that could expose users to attacks. They developed a threat model to simulate real-world risks such as biometric spoofing and transaction interception.
Vulnerability Scanning: Automated scans and manual reviews were conducted to identify flaws in the code and system. Minor issues, like outdated cryptographic libraries and unprotected API endpoints, were discovered.

Biometric System Testing: The app’s biometric system was tested against spoofing attempts, using fake fingerprints and high-resolution images. Thanks to advanced liveness detection, all attempts to bypass the system failed.
Penetration Testing: Penetration tests were performed, including cyber attacks like man-in-the-middle and brute-force attempts. The app’s strong encryption and lockout mechanisms made it highly resistant to these attacks.
Results and Remediation: The testing identified only minor issues and non-critical misconfigurations, all of which were quickly fixed. In addition, they improved API security with stricter rate limits and better logging to monitor for unusual activity.

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What This Journey Means for You: A Safer, Smarter Wallet!

If you're even slightly involved in the Bitcoin and stablecoin world like us, you understand that Security, Privacy, and Usability are everything. The VA-PT analysis confirmed that ElysiumLab’s app is a secure, user-friendly tool for managing digital assets, with a completely new algorithm offering an innovative solution to an age-old problem: secure access.

ElysiumLab passed these tests, which is great news for users concerned about their digital assets and personal biometric data safety. By combining biometrics with advanced encryption, they've created a product that could set a new standard for Bitcoin and stablecoin wallets.

Many of you (who are more paranoid) are probably wondering:

It's important to remember that the human factor remains the weakest link in the chain, no matter how advanced the underlying technology may be. That's precisely why AdFulcon is here to help and work together—ensuring that both the technology and the human element are fortified for the highest level of security.

Final Thoughts from AdFulcon

ElysiumLab’s app has genuinely impressed us with its meticulous development process. The combination of biometric security and crypto key management is not just innovative; it’s a crucial advancement in an industry that frequently struggles to strike the right balance between usability and security.

If you’re in search of the next breakthrough in crypto wallets, ElysiumLab’s app is worth your attention. Their slogan, “You are the keys,” emphasizes that your biometric data alone safeguards your wallet, eliminating the need for complex passwords or recovery phrases.

This advancement signals a future where traditional security measures like passwords will fade, replaced by more sophisticated and user-friendly solutions.

And trust us—we’ll be keeping a close eye on what they come up with next.

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Download Elysium Wallet: Apple Store or Google Play

For more information about Elysium Lab, please visit www.Elysiumlab.io

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Contact Information for Elysium Press Relations, pr@elysiumlab.io

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