Protect Your Assets Safeguarding Your Assets in Web3: Combating Phishing Attacks


4 months ago

Safeguarding Your Assets in Web3: Combating Phishing Attacks

Phishing and spam have been persistent challenges on the internet at every stage of its evolution, and Web3 is no exception. In this guide for ForkLog readers, Vladimir Menaskop sheds light on how to thwart phishing attacks targeting your crypto assets.

Three Pillars – Security, Diversification, Customization

For those who see these terms merely as words, it’s time to reconsider. Without focusing on these three crucial steps, your crypto world may never reach its full potential. Let’s start with security.

Previously covered here and here, I’ll emphasize aspects not discussed before

  1. Regularly address security concerns; neglecting it for a year could compromise you.
  2. Opt for open-source software for a faster, community-driven response.
  3. Familiarize yourself with complex extensions, wallets, and official dApps like Bitcoin Core or Polkadot JS.

Avoiding Compromise – Simple Recipes for Self-Protection

Here’s a set of straightforward recipes to steer clear of potential threats:

  1. Manually enter and bookmark the addresses of the platforms you use for decentralized exchanges (DEX), wallets, and aggregators.
  2. Utilize search engines as a third independent source, preferably ones without advertisements.
  3. Customize everything possible, from email backgrounds to authentication in partner networks.
  4. Verify wallet numbers, especially on exchanges where they are often indexed.

A Self-Protection Checklist

  1. Restrict your active hours; allocate specific times during weekdays or weekends for dealing with assets.
  2. Customize everything you can; the more unique details only you know, the harder it is to compromise.
  3. Embrace notifications and additional security measures; distinguish between cold and hot wallets.
  4. Diversify assets into basic investments, working tools, and a stabilization fund.
  5. Stay informed; research news before transferring significant sums from compromised services.
  6. Recognize the untrusted environment; no spam filter or CEX wallet is foolproof.
  7. Contribute to the community; report phishing to Google, Yandex, and specialized resources.

Embracing New Features

Adopt new wallet features promptly; innovative functionalities such as MetaMask’s recent developments can enhance security. Complicate your service interactions to deter potential threats. While phishing tokens on Ethereum exist, advanced tools can detect them promptly. Recognize that any system can be hacked. Operating under this premise clarifies and justifies the points mentioned above.