What are "Sigim"?
Radak: They are Resha'im - "v'Etzrof ka'Bor Sigayich" (Yeshayah 1:25). "Sheker Tarmisam" (118); they deceive the world more than revealed Resha'im. People do not know to beware of them, like they know about open Resha'im. "Chol [Rish'ei Aretz]" is not precise, just like "v'Chol ha'Aretz Ba'u Mitzraimah" (Bereishis 41:57).
Malbim: Resha'im are like impurities in silver; one must extract them. So You did, like one who smelts silver.
Why did he say "Hishbata"?
Radak: I saw You take revenge against them many times. You will reveal them and eradicate them from the world.
How is this the reason for loving "Edosecha"?
Radak: They clean a person from all impurities, and teach a person to be complete - his inside like his outside.
Malbim: Because You eradicate Resha'im, I love Your Edos, which testify that Hashem exacts judgment on Resha'im, and refines and purifies silver.