Zengo wallet turns 5!

5 years ago, Zengo launched the world’s first consumer MPC wallet, pioneering a category and setting the highest standard for wallet security. Since launch, we’ve redefined secure self-custody, pioneered an alternative to vulnerable seed phrases, and secured over 1 million customer wallets – with zero hacks to date!

The ultimate personal crypto wallet

Even hardware wallets cannot compete. Zengo started by solving the biggest problem faced for years: Vulnerable seed phrases that are lost, stolen, misplaced, and hacked. But we didn’t stop there.

From Theft Protection (against SIM swaps and device theft) to and Legacy Transfer (the groundbreaking inheritance-style solution), every part of Zengo is a personal wallet (not an embedded wallet) designed with security in mind. This is in addition to Zengo’s superior user experience, design, and industry-leading 24/7 customer support. Indeed, many things Zengo pioneered have become wholly adopted by the industry, including password-less authentication, cloud-based recovery a Web3 Firewall, and more.

Zengo reinvented the business of personal crypto wallets

Crypto wallets are the most important consumer-facing app of crypto. Still, most wallets suffer from unsustainable business models. Personal crypto wallets are typically free (or purchased once) and usually monetized via trading fees from a range of services. Because everything revolves around enticing the user to trade, user and company incentives are not aligned because trading is highly volatile and unpredictable, while costs are compounding and constant. 

Reliable crypto wallets, while appearing simple, are very expensive to operate and maintain. New blockchains and technologies must be integrated, and security operations, audits, penetration testing and code review must be consistently maintained at the highest levels of safety and security.

Zengo acknowledged that reality long ago and launched Zengo Pro, the first customer-facing subscription plan for crypto wallet owners that delivers the most advanced security and outstanding commercial benefits. The same way entire categories of security services were launched and monetized from password managers, to anti viruses and VPNs are now beginning in the crypto industry, led by Zengo.

Zengo X Research Team: 5 Years of pioneering security research

The Zengo X Research team continues to push boundaries: From hosting the largest and most battle tested open-source MPC cryptographic library on our GitHub, to building the only crypto wallet in the world that has never been phished or taken over – even with a public 10 Bitcoin challenge bounty.

In addition to our technological achievements, we have received several prestigious grants and awards. In 2023, the Ethereum Foundation awarded a grant for our pioneering work in Web3 security research, recognizing our contributions to enhancing the safety and reliability of blockchain interactions.

5 years of milestones

Here are a few things we are most excited about:

  • Over 1 Million Customers: Zengo now serves well over a million customers worldwide, reflecting our commitment to accessibility and reliability in the crypto space!
  • ZERO Hacks: Our dedication to security is unmatched. With no seed phrase vulnerability, we’ve maintained a flawless security record—zero Zengo wallets have been hacked or taken over. Let’s not forget our incredible “Hack a Zengo wallet, Win 10 Bitcoin” bounty! Learn more about it here.
  • Winning patents and bug bounties: We’ve been proud to win bug bounties from respected players like Coinbase, grants from industry leaders like the Ethereum Foundation, and Zengo now has received 5 patents from the U.S. Patent and Trade Office and European Union for pushing the industry forward with cutting-edge innovations.
  • First to discover and disclose badApprove, a Web3 vulnerability that impacted most popular crypto wallets.
  • Invited to present at the prestigious Black Hat cybersecurity conference in 2021 and 2024.
  • Zengo Pro is fixing a broken industry: Zengo Pro’s Legacy Transfer solves a problem unaddressed for years – ensuring your crypto legacy passes for generations. Theft Protection biometrically locks your assets to you (not even a hardware wallet can secure assets this way).

Looking Forward

As we celebrate this milestone, we’re excited about the future. Our commitment to innovation, security, and customer satisfaction remains stronger than ever. We’re dedicated to continuing our mission of making crypto safe, accessible, and enjoyable for everyone.

Thank you for being part of the ZenGo journey. Here’s to many more years of growth, innovation, and success!

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