Face Wallet is a non-custodial wallet, meaning that the user, not the wallet service provider, has the right to control the wallet.
The Seed Phrase of Face Wallet is split into 2 shares. Share 1 is stored in a secure infrastructure environment and, usually, also in the user’s device. Share 2 is kept in the Face Wallet team's repository. Shares 1 and 2 are all securely encrypted and stored.
The infrastructure environment in which Share 1 is stored is encrypted using KMS applied with HSM. And the environment operates in a secure Trusted Computing environment that is not accessible by any one including the Face team and cannot be modified. In short, the Face Wallet team cannot figure out or obtain Share 1.
If the device has been used to log in at least once, Share 1 will be saved to the device in encrypted format. If Share 1 is deleted or logging in is made from a new device, Share 1 can be downloaded in a secure infrastructure environment through social login authentication.
Share 2 is stored encrypted in a secure environment controlled by the Face team. If a user successfully verifies the PIN code, the user can obtain Share 2.
Share 1 and Share 2 are decrypted securely in a Trusted Computing environment. You can sign transactions through the decrypted Seed Phrase, and sensitive data is immediately deleted upon signing.
If a user forgets the PIN code or the PIN code is discarded because the user attempted with a wrong PIN code 5 times continuously, the PIN code can be reset through SMS OTP authentication. SMS OTP authentication must be performed with the mobile phone number that the user used to verify when the user created the wallet.
Updated 12 months ago