Coinspect Releases Wallet Security Ranking Update

Modern DeFi offers users countless options for their day to day crypto tasks, between different dApps, bridges, DEXs, and perhaps most importantly, wallets.

Externally owned account (EOA) wallets for example are an integral part of a DeFi user’s experience, as they enable both self-custody and dApp integrations - two core components of DeFi.

However, it is worth noting that not all wallets are made equal, and some - as shown by the recent Trust Wallet exploit - are less secure than a passerby might assume. Previous wallet hacks are not only jarring for the average crypto power user, but are completely foreign to any retail investors looking to take the leap into decentralized finance.

While wallets have come a long way over the last few years, the idea of clicking on one bad link, or saving a private key in an incorrect manner and losing your entire onchain networth is usually a pretty quick turn off for anyone considering onboarding to DeFI.

In order to keep both new and veteran users safe and educated, Coinspect released its comprehensive Wallet Security Ranking list.

Coinspect’s security ranking is actively reviewed and maintained in order to keep users informed and safe. Coinspect is also in the process of making every aspect of the ranking open source, ensuring its methodology is transparent and verifiable.

The ranking features core criteria such as dApp permissions, intent verification, physical access, and threat prevention.

Coinspect ranks Consensys’s Metamask as the number one wallet by security metrics on the Ethereum Virtual Machine (EVM), setting the standard for both dApp permissions and threat prevention.

The two closest runners up for browser extension wallets are both centralized exchange led wallets from OKX and Coinbase, which both boast high intent verification scores. After the top three, the scores begin dropping quickly, with many DeFi user favorites such as Rabby and Phantom wallet ranking well below the market leaders, with threat prevention scores of below 50%.

Coinspect also offers Wallet Security Verification Standard (WSVS), which is a checklist made for developers and security experts, that provides developers and third parties an easy-to-read list of aspects to review in their own products. This criteria is regularly reviewed and managed by Coinspect’s ongoing research efforts.

According to Coinspect’s January 2026 blogpost, the average wallet is significantly improving its security infrastructure. Since its last rankings, Metamask maintains its top position, but the OKX browser extension jumped ten places all the way to number two following its security upgrades.

Phantom’s mobile wallet on Android also made a notable leap, jumping to number three amongst mobile wallets after adding malicious dApp and address detection capabilities.

However, some caveats remain, particularly in regards to support for the eth_sign function, which Coinspect considers a systemic risk. “Disabling eth_sign remains one of the clearest indicators of a wallet’s security posture.” according to Coinspect, and roughly 13% of wallets still allow for it across Android, iOS, and browser wallets.

While wallet vendors continue to take their products in the right direction, elimination of the eth_sign would significantly improve user safety, and contribute to DeFi adoption growth as total on-chain capital continues to grow.