Problems With Bitcoin Magazine, Arculus

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This is an opinion editorial by Shinobi, a self-taught educator in the Bitcoin space and tech-oriented Bitcoin podcast host.

On December 15, 2021, Bitcoin Magazine announced that every attendee of the Bitcoin 2022 conference would receive a free hardware wallet from Arculus.

Arculus advertises itself as the “Arculus Secure Crypto Cold Storage Wallet,” and engages in quite a bit of hand waving in comparing itself to existing hardware key management devices in the space, touting “three-factor authentication,” freedom from reliance on “cords or Bluetooth” and calling itself the “safer way to store your crypto.” If I’m being honest, this sets off every red flag that is possible to set off for me in terms of insecure devices. Its website provides no proper explanation of architecture, makes vague comparisons to other devices that are not accurate and there is no actual open-source code for the product to be verified anywhere (in a request for comments for this article, Arculus responded that it is working to make the software app used in this device open source).

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