Safe Wallet review 2026: the multisig standard for teams and large holdings
Safe (formerly Gnosis Safe) is the most widely used multisig smart account on Ethereum and EVM networks, and the best way to require several keys, ideally on hardware wallets, before funds can move. It is open source and free for basic use. It is not a beginner wallet, and the 2025 Bybit attack showed you must verify what you sign on each device.
Status (as of October 2026): Active. Gnosis Safe was renamed Safe in 2022. Since 15 Oct 2025 the main Safe Wallet app has been run by Safe Labs, a wholly owned subsidiary of the Safe Ecosystem Foundation, with Rahul Rumalla as CEO (Safe Foundation, Oct 2025). Recent changes: a new Safe Mobile signing app audited by Certora (21 Oct 2025); the Safenet transaction-checking network in beta (2 Apr 2026); and paid Safe Pro plans for organisations from €189 a month, while basic Safe Wallet stays free (Safe Labs, Oct 2026). Safe reports more than 63 million accounts created, 2.73 million monthly active accounts in June 2026 and nearly 130 million transactions in Q2 2026 (Safe Foundation Q2 2026 report, 29 Jul 2026).
Verdict
Safe is a different kind of wallet. Instead of one seed phrase controlling everything, your funds sit in a smart contract that only moves them when, say, two of three or three of five signers approve. Each signer can be a hardware wallet in a different place. That removes the single point of failure that causes most large losses.
It is the standard tool for DAOs, companies and funds, and a sensible option for individuals with large holdings who are comfortable with Ethereum. The downsides: it works only on EVM networks, setup costs gas, and the interface assumes some experience. The Bybit theft in February 2025 also showed that the website you sign through can be attacked, so signers must check every transaction on their own devices.
At a glance
| Feature | Safe Wallet |
|---|---|
| Type | Smart contract account (multisig) with a web app and mobile signing app |
| Custody | Self-custody through a smart account controlled by the signers you choose (M-of-N) |
| Chains | Ethereum and EVM networks such as Arbitrum, Base, BNB Chain, Gnosis Chain, Optimism and Polygon. No Bitcoin or Solana |
| Platforms | Web app; Safe Mobile for iOS and Android |
| Open source | Yes. Smart contracts and the Safe Wallet interface are public |
| Audits | Published audits of the smart contracts; the 2025 Safe Mobile app was audited by Certora |
| Signers | Hardware wallets (Ledger, Trezor), software wallets, the mobile app and supported MPC providers |
| Price | Free for core use. Safe Pro: Starter €189/month, Business from €669/month, Enterprise custom (excl. VAT) |
Fees
| Action | Cost (as of October 2026) |
|---|---|
| Create a Safe | Network fee to deploy the contract. Cheap on layer-2 networks, more on Ethereum mainnet |
| Transactions | Network fee only; multisig transactions use more gas than simple transfers |
| Native swaps (CoW Protocol) | 0.70% up to $50,000; 0.35% from $50,000; 0.20% from $100,000; 0.10% above $1 million |
| Stablecoin-to-stablecoin swaps | 0.15% up to $50,000, falling to 0.05% above $1 million (Ethereum, Arbitrum, Gnosis and Base) |
| Safe Pro | €189/month or €1,990/year (Starter); includes up to 10 gas-sponsored transactions a month |
Swap fee tiers are from the Safe help centre (Oct 2026). Small swaps are expensive at 0.70%, so for trades under $50,000 it can be cheaper to swap through another app connected to your Safe. See wallet fees compared.
Is Safe safe?
Security model
Your funds are held by a Safe smart contract. It enforces a threshold, such as 2 of 3 signatures, before any transaction runs. Signers can be added, removed or replaced, so losing one key does not mean losing the funds as long as enough others remain. The contracts are open source and secure billions of dollars, which makes them one of the most tested pieces of code in crypto.
The weak points are around the contract: the website you use to propose and sign, the devices of each signer, and signers approving something they do not understand. Safe Shield adds risk checks (Blockaid) and simulation (Tenderly) before signing.
Incident history
| Date | What happened | Response |
|---|---|---|
| 12 Feb 2024 | Angel Drainer deployed a malicious Safe vault contract and tricked 128 victims into signing Permit2 approvals, taking about $403,000 (Cointelegraph, Feb 2024). | Blockaid said Safe itself was not attacked. Phishing abused the Safe brand and Etherscan's "verified" label. |
| 21 Feb 2025 | About $1.5 billion was stolen from Bybit's Ethereum cold wallet. Attackers attributed to Lazarus compromised a Safe developer's machine and changed the front-end JavaScript in Safe's AWS storage, so Bybit's signers approved a disguised malicious transaction (The Block, 26 Feb 2025). | Safe said its smart contracts and source code were not compromised. It rebuilt its infrastructure, rotated all credentials and later reorganised its security work. No compensation from Safe was announced. |
The lesson from Bybit: hardware signers only protect you if you read and verify the transaction details on each device. Our full wallet security incidents timeline has more.
Key features
- M-of-N multisig with any mix of hardware, software and mobile signers.
- Transaction builder to batch several actions into one approval.
- Safe Apps: hundreds of integrated dApps used from inside the Safe.
- Proposers who can queue transactions without being able to sign.
- Safe Mobile for signing on the go, with decoding, simulation and notifications.
- Safe Pro for teams: workspaces, onchain spending policies, shared address book, activity log and gas sponsorship.
Recovery and signer planning
A Safe has no single seed phrase. Each signer has its own key and its own backup, usually a hardware wallet's recovery phrase. Recovery therefore depends on how you design the setup, not on one piece of paper.
- Losing one signer is not a disaster if the remaining signers still meet the threshold. They approve a transaction that removes the lost signer and adds a new one.
- Losing too many signers locks the funds permanently. With a 2-of-2 setup, one lost key is enough to lose access, which is why we recommend at least 2 of 3.
- Keep signers independent. Three keys on the same laptop, or three recovery phrases in the same drawer, give you the complexity of multisig without the protection.
- Write down the setup. Record the Safe address, the network, the threshold and which device each signer is. Heirs or colleagues will need this to act.
Setting up safely
- Type the official app address
app.safe.globalyourself or use a bookmark. Fake Safe sites and malicious "Safe" contracts exist. - Pick signers that do not share a single point of failure, ideally hardware wallets from different places or people.
- Choose a threshold that survives a lost key, such as 2 of 3, never 1 of N or N of N.
- Create the Safe on the network you will actually use. A Safe address on one chain is not automatically usable on another.
- Send a small test, then confirm the full address and amount on every hardware wallet screen before signing larger transactions.
See token approvals for what you are allowing when you sign a permit.
Pros and cons
| Pros | Cons |
|---|---|
| Removes the single-seed-phrase point of failure | EVM networks only |
| Open source, battle-tested smart contracts | Setup and each transaction cost more gas |
| Works with Ledger, Trezor and other signers | Interface is aimed at experienced users |
| Free for core use | 0.70% fee on small native swaps |
| Strong team features | Bybit attack showed the hosted front end is a target |
Who it suits, and who should look elsewhere
It suits DAOs, companies, funds and individuals holding large amounts of ETH or EVM tokens who want several approvals before money moves.
Look elsewhere if you are new to crypto, hold mainly Bitcoin or Solana, or just want a simple everyday wallet.
Alternatives
- Ledger or Trezor: single-signer hardware wallets, and also good Safe signers. See Ledger vs Trezor.
- Rabby: an EVM wallet with strong transaction previews that can connect to a Safe.
- MetaMask: the most common everyday EVM wallet.
More in the best Ethereum wallets and MPC vs seed phrase wallets.
Frequently asked questions
Is Safe the same as Gnosis Safe?
Yes. Gnosis Safe was renamed Safe in 2022. The web app is called Safe Wallet and has been operated by Safe Labs, a subsidiary of the Safe Ecosystem Foundation, since October 2025.
Was Safe hacked in the Bybit attack?
Attackers compromised a Safe developer's machine and altered the front-end code on Safe's servers, which led Bybit's signers to approve a malicious transaction on 21 February 2025. Safe's smart contracts were not broken. Safe rebuilt its infrastructure afterwards.
How much does Safe cost?
Core Safe Wallet use is free apart from network fees. Native swaps cost 0.70% to 0.10% depending on size. Safe Pro for organisations starts at 189 euros a month (October 2026).
Can I use a Ledger or Trezor with Safe?
Yes. Hardware wallets are the recommended signers. Check the transaction details on each device's screen before approving.
What happens if I lose one signer key?
If enough other signers remain to meet the threshold, they can approve replacing the lost signer. That is why 2 of 3 is more resilient than 2 of 2.
Does Safe support Bitcoin or Solana?
No. Safe works on Ethereum and other EVM-compatible networks only.