I learned that on modern mobile phones, the Android Keystore is protected using the TEE (Trusted Execution Environment), and even if you gain root access to the device, the files in the keystore located in /data/misc/keystore are useless as they are encrypted, and even the "owner" app using the keypairs are unable to access the private key material to display/export/modify it. This all makes sense.
My question is: What is happening in an emulator like the one coming with Android Studio (Virtual Device Manager)? I am running an x86 Android 8.1 Oreo (API 27) there. Who's protecting the keystore, as there is no TEE present? Are the keys located in /data/misc/keystore encrypted too, or are these the real certificates and keypairs?
