Wallet import is the setup step where an existing cryptocurrency wallet is restored into new software using a seed phrase, recovery phrase, or private key. It is not the creation of a new wallet; it is a re-entry of the same wallet credentials so the user can regain access on another device or in another app.
This step matters because it exposes the secret that can fully control the wallet. Attackers often target import flows with fake apps, browser extensions, or phishing pages that imitate legitimate wallet tools. If a victim enters a seed phrase during a malicious import screen, the attacker can copy it and take over the wallet. Defenders reduce this risk by keeping recovery phrases offline, verifying the official wallet application, and treating browser add-ons as privileged software only when they are trusted and necessary.