Web3 Security Trading Guide: Protect Your Digital Assets

With the rapid development of decentralized networks, on-chain transactions have become a daily operation for Web3 users. The trend of user assets migrating from centralized platforms to decentralized networks means that the responsibility for asset security is shifting to the users. In a blockchain environment, users need to be accountable for every interaction, whether it's importing wallets, accessing applications, or signing authorizations and initiating transactions; any operational mistake could lead to serious security risks.

Although mainstream wallet plugins and browsers have gradually integrated risk identification functions, relying solely on the passive defenses of tools is still difficult to completely avoid risks in the face of increasingly complex attack methods. To help users better identify potential risks, we have developed a systematic on-chain transaction security guide based on practical experience, assisting Web3 users in building a "self-controllable" security defense.

Core principles of secure trading:

• Do not sign blindly: Never sign transactions or messages that you do not understand.
• Repeated Verification: Before making any transaction, be sure to verify the accuracy of the relevant information multiple times.

1. Safe Trading Tips

The key to protecting digital assets lies in secure transactions. Studies show that using secure wallets and two-step verification (2FA) can significantly reduce risks. Here are some specific recommendations:

• Use a secure wallet: Choose a reputable hardware or software wallet. Hardware wallets provide offline storage, reducing the risk of online attacks, and are suitable for storing large amounts of assets.

• Double-check transaction details: Before confirming the transaction, be sure to verify the receiving address, amount, and network to avoid losses due to input errors.

• Enable Two-Factor Authentication (2FA): If the trading platform or wallet supports 2FA, be sure to enable it to enhance account security.

• Avoid using public Wi-Fi: Do not conduct transactions on public Wi-Fi networks to prevent phishing attacks and man-in-the-middle attacks.

2. How to Conduct Secure Transactions

A complete decentralized application trading process involves multiple stages: wallet installation, accessing the application, connecting the wallet, message signing, transaction signing, and post-transaction processing. Each stage carries certain security risks, and the following will sequentially introduce the precautions to take during the actual operation.

1. Wallet Installation:

• Download the wallet plugin from the official app store to avoid installing it from third-party websites.
• Securely back up your seed phrase and store it in a safe place away from digital devices.
• Consider using a hardware wallet to enhance the security of private key management.

2. Access the Application

• Confirm the correctness of the website address to avoid accessing it directly through a search engine.
• Do not click on suspicious links in social media.
• Verify the application URL from multiple sources and add the secure website to your browser favorites.
• Check if the address bar is an HTTPS link, and the browser should display a lock icon.

3. Connect Wallet

• Pay attention to the risk warnings of wallet plugins.
• Be cautious of frequent wallet prompts asking for signatures, as they may be phishing sites.

4. Message Signature

• Carefully review the signature content and avoid blind signing.
• Understand the uses of common signature types (eth_sign, personal_sign, eth_signTypedData).

5. Transaction Signature

• Carefully check the recipient's address, amount, and network.
• For large transactions, consider using offline signing.
• Pay attention to the reasonableness of gas fees.
• Technical users can review the interaction target contract in the blockchain explorer.

6. Post-Trade Processing

• Check the transaction on-chain status in a timely manner to confirm it is consistent with expectations.
• Regularly manage ERC20 token authorizations, revoke unnecessary authorizations.
• Use professional tools (such as revoke.cash) to manage authorization situations.

3. Fund Isolation Strategy

Even with adequate risk prevention measures in place, it is recommended to implement effective fund isolation:

• Use a multi-signature wallet or cold wallet to store large amounts of digital assets.
• Use a plug-in wallet as a hot wallet for daily interactions.
• Regularly change hot wallet addresses to reduce continuous exposure to risk environments.

If you unfortunately encounter phishing, it is recommended to immediately:

• Use professional tools to revoke high-risk authorizations.
• For permits that have been signed but the assets have not been transferred, immediately initiate a new signature to invalidate the old signature.
• If necessary, quickly transfer the remaining assets to a new address or cold wallet.

Four, Safely Participating in Airdrop Activities

Airdrop activities can be attractive, but they also harbor risks. Here are a few suggestions:

• Project background research: Ensure that the project has a clear whitepaper, public team information, and a good community reputation.
• Use a dedicated address: Register a dedicated wallet and email to isolate the main account risk.
• Be cautious when clicking links: Obtain airdrop information only through official channels to avoid clicking suspicious links.

5. Selection and Usage Recommendations for Plugin Tools

Choosing secure plugin tools can assist us in making risk assessments:

• Use trusted extensions: Choose browser extensions with high usage.
• Check ratings: Before installing a new plugin, check the user ratings and installation numbers.
• Stay updated: Regularly update the plugin to receive the latest security features and fixes.

6. Conclusion

By following the above security trading guidelines, users can interact more confidently in the complex blockchain ecosystem and enhance their asset protection capabilities. Although blockchain technology's core advantages are decentralization and transparency, it also means that users must independently confront multiple risks.

To achieve true security on the blockchain, it is crucial to establish systematic security awareness and operational habits. By using hardware wallets, implementing fund isolation strategies, regularly checking authorizations and updating plugins, and adhering to the principles of "multi-verification, refusal of blind signing, and fund isolation" in transaction operations, we can truly achieve "freedom and security on the blockchain."