Our team cares about the security of our users and is committed to providing the best possible protection for Stellar wallets when using LOBSTR on web and mobile.
For users who connected their wallets to LOBSTR before September 1, 2020, wallet keys are securely stored inside our platform in encrypted form. However, the newer on-device key storage system provides an improved security model where wallet keys are generated and stored directly on your authorized device.
The old key storage system is now deprecated and will no longer be supported. All users who still use the old storage system must complete the migration before July 10, 2026. After this date, wallets that have not been migrated will no longer function until the migration process is completed.
The migration process allows you to switch your existing Stellar wallet to the new on-device key storage system while keeping the same Stellar address and balances.
Why should I complete the migration process?
— As an extra security measure, we will generate a new secret key (signer) for your wallet locally on your device;
— The new key will be used to sign transactions directly on your authorized device;
— By design, the new key can only be revealed by you and only on your authorized device;
— Migrated accounts provide full custody of your wallet and funds;
— Migrated accounts use the improved encryption logic, which minimizes potential security risks for wallet holders;
— You can continue using the same Stellar address with LOBSTR without compromising security or ease of use;
— After account migration, you will be able to use the multi-wallet feature, LOBSTR signer extension and several other features;
What changes after migration?
The migration process does not create a new Stellar wallet and does not change your Stellar address.
After migration, you can continue using the same wallet for regular actions inside LOBSTR, including:
— sending and receiving payments;
— adding assets;
— swapping assets;
— trading on SDEX;
— using LOBSTR Vault;
— managing your wallet in LOBSTR apps.
Your public Stellar address, balances, assets, and transaction history will remain the same.
New Recovery Phrase
During the migration process, you will receive a new 12-word Recovery Phrase.
This Recovery Phrase gives access to your wallet and funds. Make sure to save it in a secure place and never share it with anyone.
Once the migration is complete, your old 10-word Recovery Code will no longer be valid. The new Recovery Phrase will replace it as the recovery method for your wallet.
Back up your secret key before migration
Before starting the migration, we strongly recommend backing up your wallet's secret key, especially if you plan to use your wallet outside of LOBSTR.
At the moment, the secret key for wallets using the old storage system can only be revealed on the LOBSTR website. It cannot be revealed in the mobile app before migration.
To back up your current secret key, sign in to your account on the LOBSTR website and go to:
Settings → Wallets → Manage wallets → select a wallet → Reveal secret key
Once migration is complete, your wallet may be treated as a multisig-enabled wallet by other Stellar services.
If you perform transactions outside of LOBSTR, you may need both:
* your old secret key;
* your new secret key generated during migration.
IMPORTANT:
Please review the following points before starting the migration:
— Switching to on-device key storage is an irreversible process and can't be undone;
— Migrated account will have an additional 0.5 XLM locked in the reserve of your account;
— During the migration process, you'll be provided with a new 12-word Recovery Phrase. The previously generated 10-word Recovery Code will no longer be valid;
— If you are using LOBSTR on multiple devices, you will be signed out to complete the migration process on all devices besides the one you use to complete the migration. Please update your app to the latest version and sign back in.
What if I do not want to migrate?
Since the old server-side key storage system is being deprecated, all wallets using this system must be migrated to continue working in LOBSTR.
If you do not want to migrate your current wallet, you can create a new LOBSTR account and a new wallet using the on-device key storage system. You can then transfer your funds from the old wallet to the new one before the old storage system is discontinued.
Alternatively, you can export your secret key to use the wallet with other Stellar services.
Need help?
In case of any additional questions — feel free to submit a ticket or reach out via support@lobstr.co.
Learn more:
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