Web3 Trading Security Guide: Protect Your digital asset

With the continuous development of the blockchain ecosystem, on-chain transactions have become an important part of the daily operations for Web3 users. More and more users are transferring assets from centralized platforms to decentralized networks, which means that the responsibility for asset security is gradually shifting from the platform to the users themselves. In the blockchain environment, users need to be responsible for every step of their operations, whether it's importing wallets, accessing applications, or signing authorizations and initiating transactions; any careless mistake could lead to serious security risks.

Although mainstream wallets and browsers have integrated some security features, relying solely on passive defense through tools is not enough in the face of increasingly complex attack methods. To help users better identify potential risks, this article summarizes a complete on-chain transaction security guide based on practical experience.

Core Principles of Secure Trading

1. Refuse to sign blindly: Do not sign transactions or messages that you do not understand.
2. Repeated verification: Verify the accuracy of relevant information multiple times before making any transactions.

Security Trading Tips

1. Choose a safe and reliable wallet:

   • Consider using a hardware wallet to store large amounts of digital assets.
   • Choose a reputable software wallet for daily interactions.

2. Carefully check the transaction details:

   • Verify the accuracy of the receiving address, amount, and network
   • Ensure to use the correct blockchain network

3. Enable Two-Factor Authentication (2FA):

   • Enable this feature on platforms or wallets that support 2FA.
   • Especially when using hot wallets, one should pay more attention to account security.

4. Avoid trading on public Wi-Fi networks:

   • Reduce the risk of phishing attacks and man-in-the-middle attacks

Secure Trading Process

1. Wallet installation

• Download the wallet software from the official app store
• Securely back up your seed phrase to avoid digital storage.
• Consider using a hardware wallet to enhance security.

2. Access decentralized applications (DApp)

• Avoid accessing DApps directly through search engines.
• Be cautious when clicking on links in social media
• Verify the correctness of the DApp website through multiple parties
• Add the secure website to the browser favorites
• Check if the URL is an HTTPS link

3. Connect Wallet

• Be wary of abnormal behavior that frequently requests signatures.
• Pay attention to the risk warning function of the wallet plugin.

4. Message Signature

• Carefully review all signature content
• Understand common signature types and their uses
• Reject signature requests from unknown sources or suspicious origins.

5. Transaction Signature

• Carefully check the transaction details, including the receiving address, amount, and network.
• For large transactions, consider using offline signatures.
• Pay attention to gas fees to avoid abnormally high costs.

6. Post-Transaction Processing

• Check the transaction on-chain status in a timely manner.
• Regularly manage ERC20 token authorizations
• Follow the principle of least privilege
• Revoke unnecessary authorizations in a timely manner.

Fund Isolation Strategy

• Use a multi-signature wallet or cold wallet to store large amounts of digital assets.
• Use a hot wallet for daily interactions
• Regularly change hot wallet addresses

Responding to Emergencies

If you unfortunately encounter a phishing attack, immediately take the following measures:

• Use the authorization management tool to revoke high-risk authorizations
• For signed but unexecuted permit signatures, immediately initiate a new signature to invalidate them.
• Quickly transfer the remaining assets to a new address or cold wallet if necessary.

Secure Participation in Airdrop Activities

• Gain a deeper understanding of the project background
• Use a dedicated address to participate in airdrops
• Only obtain airdrop information through official channels.

Selection and Use of Plugin Tools

• Choose a widely trusted wallet extension
• Check the plugin ratings and usage before installation
• Update plugins promptly to obtain the latest security features

Conclusion

In the blockchain world, users need to take on more security responsibilities. By establishing a systematic security awareness and good operating habits, combined with appropriate tools and strategies, users can participate in on-chain activities more safely. Remember, security does not only rely on tools, but also on the user's own vigilance and operating norms. Adhering to the principles of "multi-factor verification, refusing blind signing, and fund isolation" will greatly enhance the security of your assets.