Is Backpack legit?
Backpack is a real, operating wallet. It is non-custodial, KYC: none, and is backed by Series A (investors and amount not stated in source). We found 1 reported incident (listed below). Legit is not the same as low-risk: the coins traded on it can still go to zero.
Checked 2026-10-16 · 12 sourcesThe checklist
| Check | Finding |
|---|---|
| Operating status | live |
| Custody | non-custodial |
| Identity check (KYC) | none |
| Known backers | 1 on record |
| Reported incidents | 1 |
| Published fees | yes |
| US availability | available |
Custody: who holds your money
Wallet is self-custodial with Ledger, Trezor and Keystone hardware support and multisig. Backpack Exchange is a separate custodial, KYC-required product.
Who backs Backpack
- Series A (investors and amount not stated in source) (2024-02) source
Incidents
- 2022-11: Lost 88% of corporate treasury in FTX collapse. Backpack's own company timeline states it lost 88% of its corporate treasury on FTX in November 2022. User wallet funds are self-custodial; the source does not report user losses. source
Real downsides
- 0.85% wallet swap fee means a 1.7% buy-and-sell round trip before DEX and network fees.
- Referral rewards apply to Backpack Exchange trading, not wallet swaps.
- Company says it lost 88% of its corporate treasury in the 2022 FTX collapse.
- Extension officially supports only Chrome, Brave and Edge.
Can you use it where you live?
| Region | Status |
|---|---|
| United States | Available |
| United Kingdom | Available |
| European Union | Available |
Wallet terms restrict only sanctioned persons and embargoed jurisdictions. Backpack Exchange availability differs: it operates in the US via Trek Labs, Inc. with state-by-state licensing (some states 'Coming Soon'), and in the EU via Backpack EU. (source)
We report what the venue's own terms say. Don't use a VPN to get around restrictions; venues can freeze accounts that do.
How to use Backpack without getting scammed
- Only open backpack.app — fake lookalike sites and "support" DMs are the most common way people lose funds on any trading venue.
- Never share a seed phrase or private key. No real support agent will ask for one.
- A referral code only changes your fee and who gets a share of it. It never needs your keys.
- Treat every new memecoin as able to go to zero. A legit venue does not make the coins on it safe.
Comparing options? See the full Backpack sheet or Rabby, Trust Wallet, Phantom.
FAQ
Is Backpack legit?
Backpack Wallet is a self-custodial wallet from Backpack Technologies Ltd., founded by Anchor creator Armani Ferrante; the wallet company was incorporated in April 2022. Backpack says it lost 88% of its corporate treasury on FTX in November 2022. Its sister Backpack Exchange is KYC'd and licensed in the EU via Backpack EU.
What is Backpack Wallet's swap fee?
Backpack's wallet terms state a flat 0.85% transaction fee on swaps, and the rates shown in the app already include it. DEX and network fees are separate.
Which chains does Backpack Wallet support?
Backpack's help center lists Solana, Ethereum, Optimism, Arbitrum, Polygon, Base and Sonic, with more on the way; its bridge guide also references Monad wallets.
Is Backpack Wallet the same as Backpack Exchange?
No. The wallet is self-custodial software. Backpack Exchange is a separate centralized exchange requiring KYC, with spot fees of 0.08% maker / 0.10% taker at Tier 1, operating in the EU through Backpack EU and in the US through Trek Labs, Inc.
Does Backpack have a referral program?
Backpack Exchange pays referrers 10% of the trading fees generated by new users who sign up with their code and complete KYC. Codes can't be added after KYC. No separate wallet-swap referral program was found.
Sources
Last checked . Fees and terms change often; the venue's own page wins if it disagrees with ours.
- Backpack app homepage — checked 2026-10-16
- Backpack Wallet Terms and Conditions — checked 2026-10-16
- What is Backpack Wallet? — checked 2026-10-16
- Backpack Wallet: Add Network — checked 2026-10-16
- Backpack Wallet: Supported Browsers and Platforms — checked 2026-10-16
- Backpack Wallet: Swap Tokens — checked 2026-10-16
- Backpack Wallet: Bridge Assets Across Networks — checked 2026-10-16
- Backpack Exchange Referrals — checked 2026-10-16
- Backpack Exchange Trading Fees — checked 2026-10-16
- About Backpack — checked 2026-10-16
- Is Backpack Exchange Regulated in Europe? — checked 2026-10-16
- Backpack: States Where We Operate — checked 2026-10-16