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If the audits are public and they are actually funded with proper scope that may very well be better than some very small project nobody can be bothered looking at. I’m not saying having source is a bad thing, quite the opposite. Privacy is generally gained through security controls, and just because something is open source doesn’t mean it is secure, likewise if something is closed source that doesn’t necessarily mean it is insecure as this post describes.
If the audits are public and they are actually funded with proper scope that may very well be better than some very small project nobody can be bothered looking at. I’m not saying having source is a bad thing, quite the opposite. Privacy is generally gained through security controls, and just because something is open source doesn’t mean it is secure, likewise if something is closed source that doesn’t necessarily mean it is insecure as this post describes.