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• Comment: Needs to be rewritten from scratch without the use of LLMs. Helpful Raccoon (talk) 18:12, 6 June 2026 (UTC)

KeepKey is a cryptocurrency hardware wallet brand used for storing and signing digital asset transactions. The device is designed to keep private keys offline and to require physical confirmation of transactions on the device before signing. KeepKey has been described as a hardware wallet for Bitcoin and other cryptocurrencies, with transaction approval performed through an on-device display and confirmation button.^[1]

KeepKey was founded in 2014 and launched its first hardware wallet for sale in 2015.^[2][3] It was acquired by ShapeShift AG in 2017 and later separated from ShapeShift in 2022. KeepKey is currently owned and operated by Key Hodlers LLC.^[4][5][6][7]

KeepKey was founded in 2014 by Darin Stanchfield. The Better Business Bureau lists the business start and incorporation date for Keepkey LLC as February 20, 2014.^[2] The KeepKey website also identifies Ken Hodler as a co-founder.^[8]

KeepKey's first hardware wallet went on sale in September 2015. CoinDesk reported that the device was a USB bitcoin wallet designed to allow users to store bitcoin offline and that the original KeepKey wallet software had been forked from Trezor before adding some of its own components.^[3]

In August 2017, cryptocurrency exchange ShapeShift announced that it had acquired the KeepKey hardware wallet business.^[4][5] According to CoinDesk, ShapeShift said it would continue to use the KeepKey brand and that KeepKey staff would continue working on the hardware product line.^[4] Bitcoin Magazine reported that ShapeShift described the acquisition as pairing ShapeShift's exchange services with KeepKey hardware wallets.^[5]

In 2021, ShapeShift began transitioning into a decentralized autonomous organization. In a March 2022 ShapeShift DAO forum proposal, KeepKey was described as independently owned and operated as of January 1, 2022, by former ShapeShift contributors known as PastaGhost and MattHighlander.^[6] The same proposal described a proposed KeepKey workstream for maintaining KeepKey applications and supporting KeepKey users within the ShapeShift ecosystem.^[6]

KeepKey is no longer owned by ShapeShift. The current KeepKey Terms of Service state that KeepKey.com is owned and operated by Key Hodlers LLC.^[7] The Better Business Bureau also lists Key Hodlers LLC as an alternate name for Keepkey LLC.^[2]

KeepKey is a hardware cryptocurrency wallet. Hardware wallets are a type of cryptocurrency wallet that store private keys in a separate physical device and sign transactions after user confirmation. Bitcoin.org describes KeepKey as requiring each Bitcoin transaction to be reviewed and approved on the device's display and confirmation button.^[1]

The KeepKey device is used for offline storage and transaction signing. Money.com described KeepKey as a cold-storage wallet used for offline digital asset storage, while also noting limitations around customer support availability.^[9]

KeepKey's public website describes the product as an open-source hardware wallet and states that its desktop software is open source.^[10] The official website also describes current KeepKey software products, including a desktop application, browser extension, mobile application, and firmware resources.^[7]

KeepKey's design is based on the use of a dedicated signing device, open-source software, and deterministic key generation. The device is intended to separate private-key storage and transaction signing from general-purpose computers, while allowing users to verify transaction details before approval on the device itself.^[1]

KeepKey publishes firmware and software resources through public repositories, including its device firmware repository on GitHub.^[11] The company's website describes KeepKey as an open-source hardware wallet and states that its firmware is open source.^[12] Open-source publication allows external developers, security researchers, and users to inspect implementation details, build software independently, and compare released firmware with public source code. KeepKey has also published instructions for compiling and verifying firmware builds.^[13]

KeepKey uses hierarchical deterministic wallet concepts associated with BIP-32 and mnemonic recovery phrases associated with BIP-39. BIP-32 describes hierarchical deterministic wallets, in which multiple keys can be derived from a single master seed in a tree-like structure.^[14] BIP-39 describes mnemonic phrases that can be converted into a binary seed for deterministic wallets, including wallets using BIP-32 or similar methods.^[15] In practice, this means that a user's wallet can be backed up through a recovery phrase rather than by separately backing up each private key.

KeepKey's public documentation states that the device generates a BIP-39 recovery phrase and supports BIP-39 passphrases.^[16] A BIP-39 passphrase can create an additional wallet derived from the same recovery phrase, adding a second secret that is not stored as part of the written recovery phrase.^[17]

KeepKey has appeared in broader security research and reporting about hardware wallet vulnerabilities. In June 2019, ShapeShift published a security statement responding to physical-attack research presented by Ledger Donjon concerning hardware wallets. ShapeShift stated that the relevant attack required physical possession of the KeepKey device, specialized technical skill, time, and equipment. The company said that hardware wallets such as KeepKey were designed primarily to protect users from malware, viruses, remote hackers, and compromised computers, and recommended that users physically secure their devices and enable a BIP-39 passphrase for additional protection.^[18]

In December 2019, Kraken Security Labs reported a physical voltage-glitching attack against KeepKey devices as part of hardware wallet security research. Kraken said the attack could extract an encrypted seed from a KeepKey device with physical access, after which the seed could be attacked by brute-forcing the device PIN.^[19] CoinDesk reported that Kraken described the attack as possible with a voltage-glitching device costing about $75.^[20] Kraken stated that the issue was difficult for KeepKey to address without a hardware redesign because it involved the microcontroller used in the device. Kraken also noted that KeepKey was aware of similar physical attacks against hardware wallets and cited ShapeShift's earlier position that KeepKey was designed to protect keys against remote attacks.^[19]

A technical follow-up from Kraken Security Labs stated that the attack targeted the STM32F205 microcontroller used in KeepKey and that the issue could not be reliably mitigated by firmware because the glitching attack occurred during the device boot process before the wallet firmware could enforce countermeasures.^[21]

In 2020, Wired reported on Ledger Donjon research involving vulnerabilities in multiple hardware wallets, including ShapeShift's KeepKey. Wired reported that ShapeShift had patched one KeepKey vulnerability through a firmware update that improved the security of PIN verification, while also noting ShapeShift's position that sophisticated attackers with physical possession of a device may eventually be able to compromise it.^[22]

KeepKey was also included in academic research on address-verification attacks affecting hardware wallet user interfaces. A 2021 paper on the EthClipper attack tested Trezor, Ledger, and KeepKey wallets and argued that users may verify only portions of long cryptocurrency addresses, creating a possible path for visually similar address-substitution attacks.^[23]

Reviews have often described KeepKey as a lower-cost or simpler hardware wallet compared with larger competitors. Money.com described it as an affordable cold-storage wallet supporting multiple cryptocurrencies, while noting limitations including customer support availability and the inconvenience of offline storage compared with online wallets.^[9]

A 2025 BitDegree review rated KeepKey 8.0 out of 10 and described it as a secure, easy-to-use hardware wallet with a customer-friendly price, broad asset support, and a large screen that improves address verification. The same review identified the device's larger size and weight as its main drawback.^[24]

BitDegree also noted that KeepKey became a standalone entity after ShapeShift transitioned into a decentralized autonomous organization, while stating that ShapeShift remains one of several decentralized applications that can be connected to the wallet.^[24] This distinction is relevant because some older KeepKey reviews describe the product in the context of ShapeShift-operated software and may not reflect the current ownership and software environment.

Bitcoin.org lists KeepKey among hardware wallets and emphasizes its device-screen review and confirmation workflow.^[1]

• Cryptocurrency wallet
• Hardware wallet
• Bitcoin
• ShapeShift

Category:Cryptocurrency Category:Bitcoin Category:Computer hardware