How secure are tokens?
Valora prioritizes security. As a self-custodial wallet, users have complete control over their wallet and tokens. The recovery phrase and PIN provide full access to the wallet address, and neither Valora nor any third party stores this information, ensuring the security of the wallet.
The recovery phrase is the primary method of accessing a wallet, so it should be stored securely as soon as the wallet is created or before transferring funds to Valora. It is recommended that the recovery phrase be saved separately from the device and Valora.
The PIN adds an additional layer of security, required during onboarding, when restoring the wallet address, and for making or signing transactions. The PIN is also needed to view the recovery phrase, change the PIN, and sign transactions.
How secure is personal information?
Valora takes the security of personal information seriously and does not store any personally identifiable information (PII). If a phone number is connected, it is encrypted into an irreversible hash before being stored. When a phone number is used in transactions, only the encrypted value is included in network requests, ensuring protection from breaches or unauthorized access.
Users can sync their contacts to send funds to phone numbers. When contacts are synced, Valora reads directly from the device, but the information is not saved in Valora’s databases.
Additionally, Valora encrypts and stores photos and names locally on the mobile device. Uninstalling the app deletes this information, and it will not be restored when the wallet address is recovered.
Any personal information collected during communication with Valora’s support team can be deleted upon request by contacting support.
Valora’s Settings menu offers additional security features, such as requiring a PIN to open the app or using biometrics instead of a PIN.
More details on privacy protection can be found here.
Celo Platform security
All security audits related to the smart contracts, security, and economics of the Celo platform can be found here.