Atomic Wallet vs Cake Wallet

Comparing: two wallets
Decided by: Editorial rating
Last reviewed: 2026-08-26

Do not keep bitcoin here: over 5,500 wallets were emptied in June 2023 and the cause was never published.

Open source Monero-first wallet with real bitcoin privacy tools, carrying a 2021 key generation bug that is still costing people coins.

Verdict: Cake Wallet

Cake Wallet rates higher on our rubric: 3.3 against 1.2 for Atomic Wallet.

Criterion: Editorial rating
Atomic Wallet: 1.2
Cake Wallet: 3.3

Atomic Wallet and Cake Wallet, fact by fact

Every row is from the two reviews as of their review dates, with sources on each. A check marks the side a decidable criterion favours; rows without one are information, not a score.

Atomic Wallet and Cake Wallet compared fact by fact from their reviews; a check marks the side a decidable criterion favours.
Fact	Atomic Wallet	Cake Wallet
Editorial rating	1.2	3.3 (favoured on this row)
Status	Caution: see the review	Available
Made by	Atomic Wallet	Cake Labs
Price	Free download	Free download
Who holds the keys	self-custodial, keys generated on your device and encrypted with your password	self-custodial, seed and keys generated and stored on your own device, with no account and no telemetry
Bitcoin-only	No	No
Runs on	iOS, Android, Windows, macOS, Linux	iOS, Android, Windows, macOS, Linux
Screen	Not stated	Not stated
Connectivity	Not stated	Tor for all traffic, connection to your own node, Ledger hardware signing, and silent payments plus PayJoin on the bitcoin side
Released	2017	2018, launched as the first open-source Monero wallet on iOS
Countries on the maker's list	No published list	No published list
Last reviewed	2026-08-26	2026-08-25

Pros and cons, side by side

Atomic Wallet

What works

Keys are held on your device, so a working install still lets you move your own coins out
Desktop builds are published for Windows, macOS, Ubuntu, Debian and Fedora, with a hashsum check for the download
One app covers bitcoin and more than a thousand other assets, which is why so many people kept so much in it

What to watch

More than 5,500 wallets were drained on June 2 and 3, 2023, for over $100 million by Elliptic's count
Atomic has never published a confirmed technical cause, offering four possibilities and picking none
No compensation has been paid to the people who lost money
Its first public statements put the damage at under 0.1% and then under 1% of users, which the on-chain evidence contradicted
The first class action was thrown out in 2024 on jurisdiction rather than on the facts, and a second is now pending in California
The homepage says nothing about the incident and still runs testimonials from a man who died in 2021

Cake Wallet

What works

Open source under an MIT license, with a public repository that is actively developed
Self-custodial with no account and no KYC, and, in Cake's words, zero data collection or telemetry
Genuine bitcoin privacy tooling: silent payments and PayJoin, plus Tor for all traffic and your own node
Handles Monero properly, which almost no other multi-asset wallet does
Ledger hardware wallet support, plus Cake's own two-factor option and biometric unlock
Reachable outside the app stores: direct APK, Accrescent, and Windows and Linux builds

What to watch

Bitcoin wallets created before v4.1.7 are permanently unsafe and have to be replaced, not just updated
The Milk Sad researchers traced sweeps of those weak wallets continuing into 2024, three years after the warning
The flaw was in Cake's own key generation code rather than a third-party library, and it ran through 2020 and 2021
Multi-asset by design, so it carries far more chains and far more code than a bitcoin-only wallet
Monero's privacy guarantees and much more transparent chains share one app, which takes care to use well

Frequently asked questions

Is Atomic Wallet or Cake Wallet better?

Cake Wallet rates higher on our rubric: 3.3 against 1.2 for Atomic Wallet. The rating follows the product rubric published on our about page; the rows above set custody, price and platforms side by side so you can check it.

Are Atomic Wallet and Cake Wallet free?

Yes, both are free to download. What differs is who holds the keys: Atomic Wallet is self-custodial, keys generated on your device and encrypted with your password; Cake Wallet is self-custodial, seed and keys generated and stored on your own device, with no account and no telemetry.

Is Atomic Wallet or Cake Wallet bitcoin-only?

Neither: both support assets beyond bitcoin. Atomic Wallet: Bitcoin plus more than 1,000 other coins and tokens, by Atomic's own count. Cake Wallet: Multi-asset: Monero, bitcoin, Lightning, Litecoin, Ethereum, Solana, Zcash, Bitcoin Cash and more.

Does Atomic Wallet or Cake Wallet carry a warning?

Atomic Wallet: On June 2 and 3, 2023, more than 5,500 Atomic Wallet users had their balances emptied in a single coordinated event. Elliptic put the total above $100 million and attributed it to North Korea's Lazarus Group. Atomic Wallet has never published a confirmed technical cause and no compensation has been paid. The first US class action was dismissed in September 2024 for lack of personal jurisdiction rather than on the facts, and a second was filed in California in June 2025. The company's own homepage carries no mention of any of it.

The full reviews: Atomic Wallet and Cake Wallet, each with its sources, and every wallet we review.

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