Secure crypto wallet: Only 6 offer real protection

Is your cryptocurrency really safe? According to a recent report by CER, a company specializing in crypto cybersecurity, the majority of crypto wallets on the market are not really secure. Only three brands have managed to distinguish themselves by conducting rigorous and up-to-date penetration tests.

MetaMask, ZenGo and Trust Wallet: the safest wallets!

The cybersecurity certification platform published a report on the security of crypto wallets last July. The results show that 13.3% of brands conducted penetration tests to detect security vulnerabilities. Only three brands have performed up-to-date penetration testingto know MetaMask, ZenGo and Trust Wallet. Marks Rabby and Bifrost performed tests on older versions of their software. Finally, Ledger Live did it on an unknown version.

In total, only 6 out of 45 crypto wallets are therefore really secureand have been subjected to penetration testing, according to the report. The report also established the general classification security of each wallet. MetaMask, ZenGo, Rabby, Trust Wallet, and Coinbase Wallet topped the charts.

Only major brands are subject to penetration testing

Penetration testing is a method for finding security flaws in software. They make it possible to simulate hacking attempts in the real world in order to detect vulnerabilities before the product is put on the market. According to the CER, 39 of the 45 crypto wallets have not carried out any penetration tests. The reason could be the high cost of these tests. In addition, if the company makes frequent updates to its products, each new update may disqualify the test carried out previously.

Popular brands are more likely to perform security audits, including penetration testing. Indeed, they often have the necessary funds, notes the CER. Nevertheless, many crypto wallet brands rely on other security methods. For example, they use bug bounties to detect vulnerabilities.