[Wallets](https://revain.org/wallets/) › Armory

# Armory: keys, security, fees and reviews

## In short

- **Key control**: Self-custodial desktop client: private keys stay in the user's wallet files; no central service is needed to spend.
- **Fees**: Wallet: Free, open-source software; only Bitcoin network fees apply.
- **Risks and caveats**: The last stable release is from December 2018; 0.97 is a release candidate, and the maintainer warns the Windows build is rough.
- **Checked**: 31 October 2026

## Key facts

- **Official site**: [btcarmory.com](https://btcarmory.com/)

Key facts checked on 31 October 2026 against official sources.

## Status

Open-source project maintained by goatpig since Armory Technologies Inc. stopped development in 2016; the last stable release is 0.96.5 (December 2018) and 0.97 RC1 was published as a pre-release in May 2026.

## What is Armory

Armory is a free, open-source desktop Bitcoin wallet written in Python and C++, created by Alan Reiner in 2011. It is self-custodial, supports offline (air-gapped) signing, paper backups and watching-only wallets, and relies on a local Bitcoin Core node for networking and validation.

## Who holds the keys

| Parameter | Details |
|---|---|
| Key control | Self-custodial desktop client: private keys stay in the user's wallet files; no central service is needed to spend. |
| Recovery | Paper backups of deterministic wallets; private keys can be imported or swept. |
| Account model | Supports cold storage on a computer that never connects to the internet, with a watching-only copy online. |

## Features and supported networks

| Parameter | Details |
|---|---|
| Supported networks | Bitcoin only; requires Bitcoin Core (or a Core-based full node) for networking and consensus. |
| Platforms | Desktop software; 0.97 RC1 ships a Windows build and needs Qt5/6 for Python 3. |
| Multisig | Multi-signature transactions are partly implemented under the hood. |
| Supported networks | 0.96.5 added sending to bech32 (native SegWit) addresses. |

## Security and audits

- Open source: code up to 0.93.3 is under the GNU AGPL v3 (Armory Technologies Inc.); later code is under the MIT License.
- On 22 September 2017 the maintainer disclosed a flaw in the Shamir's Secret Sharing used for fragmented backups, fixed in 0.96.3; users of fragmented backups were told to move funds to a new wallet.
- Release binaries can be checked against published hashes and signatures (Verify Binaries page).

## Security incidents

No security incident is recorded in the sources checked on 31 October 2026 (the company’s own channels and incident databases): [defillama.com/hacks](https://defillama.com/hacks), [hacked.slowmist.io](https://hacked.slowmist.io/), [rekt.news/leaderboard](https://rekt.news/leaderboard/), [btcarmory.com/feed.xml](https://btcarmory.com/feed.xml), [github.com/goatpig/BitcoinArmory/releases](https://github.com/goatpig/BitcoinArmory/releases)

## Fees

| Parameter | Details |
|---|---|
| Wallet | Free, open-source software; only Bitcoin network fees apply. |

## History

| Date | Event |
|---|---|
| 13 July 2011 | Alan Reiner creates Armory. |
| 4 February 2016 | Armory Technologies Inc. stops developing Armory; maintenance passes to goatpig and the community. |
| 22 September 2017 | Armory 0.96.3 fixes the fragmented-backup (Shamir's Secret Sharing) vulnerability. |
| 23 December 2018 | Armory 0.96.5, the latest stable release, is published. |
| 20 May 2026 | Armory 0.97 RC1 is published on GitHub as a pre-release. |

## Risks and caveats

- The last stable release is from December 2018; 0.97 is a release candidate, and the maintainer warns the Windows build is rough.
- Wallets made with fragmented backups before 0.96.3 should be treated as compromised, per the maintainer.
- Needs a fully synced Bitcoin Core node, so setup is heavier than light wallets.
- Self-custody: losing the wallet files and paper backup means losing access to the funds.

## About the developer

- **Developer**: Open-source project led by Farhod Fathpour (goatpig).
- **Founders**: Alan Reiner (etotheipi), project creator.
- **Parent company**: Formerly Armory Technologies Inc. (ATI), which no longer takes part.

## Official links

- Website: [btcarmory.com](https://btcarmory.com/)
- Download: [btcarmory.com/releases](https://btcarmory.com/releases)
- Docs: [btcarmory.com/docs/faq](https://btcarmory.com/docs/faq)
- Source code: [github.com/goatpig/BitcoinArmory](https://github.com/goatpig/BitcoinArmory)
- Security: [btcarmory.com/fragmented-backup-vuln](https://btcarmory.com/fragmented-backup-vuln/)

## Questions and answers

**Is Armory self-custodial?**

Yes. Armory is a desktop wallet; the keys stay in your wallet files and no central service is needed to spend.

**Is Armory still maintained?**

Yes, by goatpig as an open-source project. The last stable release is 0.96.5 (December 2018); 0.97 RC1 came out as a pre-release on 20 May 2026.

**Is Armory open source?**

Yes: code up to 0.93.3 is under the AGPL v3 and later code under the MIT License.

**Does Armory need Bitcoin Core?**

Yes. Armory has no networking of its own and relies on Bitcoin Core (or a Core-based node).

**Has Armory had security problems?**

In September 2017 the maintainer disclosed a flaw in fragmented backups, fixed in 0.96.3, and told affected users to move their funds.

## Sources

- [Bitcoin Armory — homepage](https://btcarmory.com/)
- [Bitcoin Armory — About](https://btcarmory.com/about)
- [Bitcoin Armory — FAQ](https://btcarmory.com/docs/faq)
- [Bitcoin Armory — Armory's future and the end of ATI involvement](https://btcarmory.com/armory-future/)
- [Bitcoin Armory — Fragmented Backups Vulnerability](https://btcarmory.com/fragmented-backup-vuln/)
- [Bitcoin Armory — 0.96.5 release](https://btcarmory.com/0.96.5-release/)
- [Bitcoin Armory — news feed](https://btcarmory.com/feed.xml)
- [GitHub — goatpig/BitcoinArmory](https://github.com/goatpig/BitcoinArmory)
- [GitHub — 0.97 RC1 release](https://github.com/goatpig/BitcoinArmory/releases/tag/0.97-RC1)

## More in this section

- [Foundation Passport](https://revain.org/wallets/foundation-passport/)
- [OneKey](https://revain.org/wallets/onekey/)
- [Arculus](https://revain.org/wallets/arculus/)
- [Wallet of Satoshi](https://revain.org/wallets/wallet-of-satoshi/)
- [Xapo Bank](https://revain.org/wallets/xapo-wallet/)
- [Wirex](https://revain.org/wallets/wirex-wallet/)
- [All Wallets →](https://revain.org/wallets/)

## Related

- [Blockstream Jade](https://revain.org/wallets/blockstream-jade/)
- [COLDCARD](https://revain.org/wallets/coldcard/)
- [BitBox](https://revain.org/wallets/bitbox/)
- [Bitcoin Wallet](https://revain.org/wallets/bitcoin-wallet/)
- [Xverse](https://revain.org/wallets/xverse/)
- [TokenPocket](https://revain.org/wallets/tokenpocket/)
- [UniSat Wallet](https://revain.org/wallets/unisat/)
- [Phoenix Wallet](https://revain.org/wallets/phoenix/)

## How voting works

Votes are anonymous and carry no text. Each device has one vote per item; press the same button again to remove it. Cloudflare Turnstile checks that a person is voting. We keep a random device ID in a cookie and a salted hash of the IP address to limit abuse — no names, no accounts. Votes are visitors’ opinions, not investment advice.

Page updated: 2026-10-31

---
Source: https://revain.org/wallets/armory-wallet/