The iOS vulnerability “worse_query” can put crypto wallets on the iPhone at risk, but only under one condition: an app that does not come from the App Store must be running on the device, and the wallet must store its seed phrase or key store unencrypted in its file folder. There are no confirmed thefts so far. Binance and the security firm SlowMist nevertheless issued warnings on Tuesday, because the code has been public since Sunday and Apple has not yet confirmed whether Monday’s updates close the gap.

For investors in Germany, this becomes a concrete question of custody. If you hold Bitcoin or Ether in an app on your iPhone, you own a so-called hot wallet: a software wallet whose private key sits on an internet-connected device….