A vulnerability known as “Mnemonic Unauthorized Access” has been discovered in the Uniswap iOS wallet, as reported by PANews. This vulnerability was discovered by the ScaleBit security team, which is part of BitsLab.
In October of 2024, this vulnerability was identified, and it enables attackers who have physical access to a device to circumvent the authentication method of the wallet and have direct access to the mnemonic that is stored on the device.
The faulty design of the mnemonic storage and access mechanism is this vulnerability’s underlying cause. It is the root cause of this issue. At the application layer, the mnemonic is not encrypted in an efficient manner, and the criteria that must be met in order to activate the recovery page are unrealistic. This makes it simple for adversaries who have physical access to the device to circumvent the authentication process of the wallet and steal the mnemonic.
It is now the case that this vulnerability is still present in the most recent version of the Uniswap Wallet, which is Version 1.42. This vulnerability poses a possible danger to all users of the wallet. The users are strongly encouraged to exercise extreme caution with regard to the physical security of their devices, to abstain from revealing their unlock passwords, and to desist from lending their smartphones to other individuals.
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