Zengo

Zengo is a mobile crypto wallet that does away with the twelve or twenty-four word backup altogether. In place of one private key it runs on multi-party computation: two independently created secret shares that sign jointly. The Personal Share is generated and kept on your handset; the Remote Share is held on Zengo servers. No complete private key is ever created, stored or reconstructed, according to its security pages as consulted on 5 August 2026.

The obvious worry is getting your money back. With no phrase written down, what happens when the handset is lost or replaced? Zengo answers with a three-factor recovery system that restores the wallet onto a new device, backed by granted patents covering biometric recovery and share refresh. Optional biometric locking adds a further layer. Read the trade-off carefully: restoring runs through Zengo infrastructure rather than a slip of paper you alone control. That removes one failure mode and introduces a dependency.

The security record is unusually easy to check. Zengo lists reviews by Kudelski (March and October 2019), AppSec (June 2019), Scorpiones (February 2021 and October 2022) and Certik (May 2023). Its cryptography has been published openly since 2018, implementing two-party ECDSA on secp256k1 and EdDSA threshold signatures on ed25519. A public 500,000 USD bounty, the Zengo Wallet Challenge, opened in January 2024. Its own tally: zero wallets breached since 2018, more than two million customers, over 20 billion USD protected.

The app manages more than 1,000 assets across Bitcoin, Ethereum, Solana, TRON, stablecoins and collectibles, with buying, selling and swapping built in. Human assistance runs around the clock in over 180 countries, but only through in-app chat and email; there is no telephone line, which the firm presents as a defence against impersonation. A paid Pro tier adds priority handling.

The operator named in the terms is Zengo Ltd, with Israeli law governing and the Tel Aviv District Court holding jurisdiction. We found no authorisation number on the pages reviewed, which is consistent with a self-custody wallet: the firm never takes possession of client holdings, so exchange licensing does not apply. A risk warning page addressed to investors in the United Kingdom does sit on the site; read it as a mandated notice about volatility, not as evidence of authorisation. One headline claim deserves the same caution: the figure of 250 billion USD lost through seed-phrase wallets is Zengo's own estimate, unsourced where it appears.