Is Coinbase Wallet safe?
Short answer
Coinbase Wallet scores 77/100 (Good). It is a self-custody software wallet made by Coinbase Bermuda Technologies Limited (Bermuda). Its code is partly public, the latest independent audit was by Cantina in March 2026, and 3 security incidents are on record, none with user losses through the wallet itself.
How Coinbase Wallet scores
Safety score
77/100
Good
Write the recovery phrase on paper or metal, never in a photo or cloud note. Install wallets only from the maker’s own site or the official app store.
Code transparency15/25
Some of the code is public, but not all of it is open source.
Independent audits20/20
Latest published audit: Cantina, March 2026.
Key storage12/20
Keys are kept encrypted on your phone or computer, so malware on that device is the main risk.
Incident record20/25
3 incidents on record, 2 in the last three years. Recent incidents and losses weigh more.
Company10/10
Run by Coinbase Bermuda Technologies Limited, a named company in Bermuda.
Coinbase Wallet at a glance
- Type: software wallet
- Available on: iOS, Android, browser extension, web
- Key storage: Passkey (no recovery phrase). Coinbase's developer docs describe the onchain accounts behind Coinbase Wallet as passkey-based smart accounts (formerly Smart Wallet, then Base Account) with no seed phrase; an optional recovery key can be added as a backup signer. The terms also cover classic self-custody accounts (EOAs) secured by a 12-word recovery phrase, and some accounts work as both.
- Networks: EVM chains, Bitcoin and Solana. The site advertises trading 'BTC, ETH, SOL and dozens more chains'. The Block's 2026-09-10 report lists 11 networks: Base, Robinhood Chain, Solana, Bitcoin, Ethereum, BNB Chain, Monad, Optimism, Arbitrum, Polygon and Avalanche. Coinbase has not published an exact count.
- Company: Coinbase Bermuda Technologies Limited (Bermuda)
- Partly open: The smart wallet contracts and developer SDKs are MIT-licensed. The mobile app and browser extension are closed source. GitHub
- App ratings: App Store: 4.5 from 161,393 ratings; Google Play: 4.0 from 134,128 ratings
Has Coinbase Wallet been hacked?
- March 2025 · Phishing
Emails impersonating Coinbase told customers to 'migrate' to Coinbase Wallet using an attacker-controlled pre-generated recovery phrase. Coinbase said it never sends recovery phrases. Source - February 2025 · Vulnerability
Coinbase published a high-severity advisory for outdated Coinbase Wallet SDK versions, fixed in 4.3.0. It said the issue did not directly affect users' keys, smart contracts or funds. Source - March 2023 · Vulnerability
ZenGo disclosed a 'Red Pill' flaw letting malicious contracts behave safely during Coinbase Wallet's transaction simulation. Coinbase fixed it and paid bug bounties. Source
Coinbase Wallet security audits
- Cantina, March 2026: Spend Router 2 (spend permissions routing for Smart Wallet / Base Account)
- Cantina, March 2026: SpendRouter (spend permissions)
- Cantina, January 2025: Spend Permissions (public competition)
- Cantina, December 2024: Spend Permissions
- Cantina, October 2024: Spend Permissions
- Cantina, April 2024: Coinbase Smart Wallet contracts
- Code4rena, March 2024: Smart Wallet and MagicSpend (competitive audit; 1 high, 2 medium findings)
- Certora, February 2024: Smart Wallet contracts (formal verification and manual review)
- Cantina, January 2024: Base Paymaster and Smart Account
Crypto cards that work with Coinbase Wallet
No card in our database spends directly from Coinbase Wallet. These self-custody cards work with a wallet you control:
Other wallet safety checks
Frequently asked questions
Is Coinbase Wallet safe?
Coinbase Wallet scores 77/100 (Good). It is a self-custody software wallet made by Coinbase Bermuda Technologies Limited (Bermuda). Its code is partly public, the latest independent audit was by Cantina in March 2026, and 3 security incidents are on record, none with user losses through the wallet itself.
Has Coinbase Wallet ever been hacked?
3 security incidents involving Coinbase Wallet are on record, the latest in March 2025. None caused user losses through the wallet itself.
Is Coinbase Wallet open source?
Some of the code is public, but not all of it is open source. The smart wallet contracts and developer SDKs are MIT-licensed. The mobile app and browser extension are closed source.
Is there a crypto card for Coinbase Wallet?
No card in our database spends directly from Coinbase Wallet. A self-custody card such as the MetaMask Card can be funded from any wallet you control.
Sources
- Coinbase Wallet - Built To Trade (official site; base.app redirects here) · checked September 29, 2026
- Coinbase Wallet Account and Coinbase Wallet Terms of Service · checked September 29, 2026
- Coinbase Wallet SDK overview (Coinbase Developer Platform) · checked September 29, 2026
- Coinbase Wallet MCP (Coinbase Developer Platform) · checked September 29, 2026
- The Block: Coinbase rebrands Base App back to Coinbase Wallet · checked September 29, 2026
- Coinbase Wallet extension - Chrome Web Store · checked September 29, 2026
- coinbase/smart-wallet (GitHub, audits folder) · checked September 29, 2026
- coinbase/spend-permissions (GitHub, audits folder) · checked September 29, 2026
- coinbase/coinbase-wallet-sdk (GitHub) · checked September 29, 2026
- base/account-sdk (GitHub) · checked September 29, 2026
- Code4rena: Coinbase Smart Wallet findings report · checked September 29, 2026
- Coinbase Wallet SDK Security Advisory GHSA-8rgj-285w-qcq4 · checked September 29, 2026
- BleepingComputer: Coinbase Wallet 'Red Pill' flaw allowed attacks to evade detection · checked September 29, 2026
- BleepingComputer: Coinbase phishing email tricks users with fake wallet migration · checked September 29, 2026
- Coinbase Wallet: Trade to Win (App Store) · checked September 29, 2026
- Coinbase Wallet (Google Play) · checked September 29, 2026