I got you now!
True.. that is a big issue. Also why we should move on from passwords.
I would hope these kind of apps only hold amounts that are not worth stealing. Pennies or maybe a couple bucks
Yes! Holy shit the password is so fucking dead. Try to make a password you can remember? Get rainbow tabled. Work hard to learn a difficult password? 1 website gets hacked and now all your accounts are compromised. Password manager? Password manager stores passwords on their server and that server gets hacked. 2fa? Sim swapping.
Just use asymmetric cryptography already!
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Hell yeah!
The only fear I have wit PubK PrivK is that the Elliptic curve doesn't offer password reset.. heheheh
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Bitcoin also doesn't offer password reset, but because of Bitcoin we've developed some really good methods for balancing security and availability like geo-disbursed multi-sig
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