Comments for https://bitcointechweekly.com/briefs/lumi-wallet-insecure-or-scam/
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Lumi wallet team member here:)
Yes, our web wallet was not client-side at the time of this so-called "research"
We did store our user's private keys at our servers, but did store them strongly encrypted, so the mnemonic was (and is) actually hashed before being stored.
Anyway, we decided that the customer always has the final say, and created a client-side web version.
We're planning to release it on August 30th, the previews are available on our social media and in the Product Hunt "Upcoming" section.
- MIn reply tosystem⬆:MrPuzzleBox
It's a SCAM. Their "basic" fees for sending crypto are so high that it often is more then the amount being sent! How does $92 worth of Ether sound to send $90 worth of SNT! I bet you that those recent GIGANTIC ETH fees that made headlines were probably generated by this wallet (they hide the fees in the normal dialog). I would PAY MONEY to see video posted of the developers hanging by a rope attached to the intermediate junction between head & thorax.