In the face of frequent security incidents in Web3, enhancing security awareness is far from enough. This article summarizes three practical measures—funds diversification storage, enhancing account security, and preventing social engineering attacks—to help users effectively protect their crypto assets and reduce the risk of being hacked or scammed.
Introduction
Security incidents in Web3 are rampant, from exchanges being hacked to wallet private keys being leaked, making it hard to guard against. In addition to enhancing security awareness, retail investors can significantly improve asset security through the following three measures.
- Funds Diversification Storage
Proper asset allocation is the foundation for reducing risk:
Exchanges as trading tools only: Do not store large amounts of assets on exchanges for long periods; transfer them out promptly after trading.
Cold wallet storage for large funds: Use cold wallets like Ledger or Trezor for offline storage, which is more secure.
Hot wallets for small interactions: Hot wallets like MetaMask are suitable for daily project interactions, but the stored amount should be controlled.
- Enhancing Account Security
Account management is the core aspect of security:
Properly safeguard mnemonic phrases:
Write down the mnemonic phrases on paper, isolating them from online storage.
Diversify the storage of mnemonic phrases, for example, store half in an email and the other half in a notebook or other secure medium.
Use hardware wallets: Bind hot wallets with hardware wallets, requiring hardware wallet signatures for transactions; even if the hot wallet private key is leaked, assets remain secure.
Regularly check permissions: Use tools like Etherscan or Revoke.cash to regularly check and revoke unnecessary smart contract authorizations to avoid risks from long-term authorizations.
- Preventing Social Engineering Attacks
Hackers often use social engineering to trick users, so extra caution is needed:
Do not click on unfamiliar links: Avoid clicking on links from unknown private messages on platforms like Telegram or Twitter (now X), as they may lead to phishing sites.
Do not download unknown software: Refuse to install software from unknown sources to prevent hackers from gaining remote control access.
Be wary of private key requests: Exchanges or project parties will never privately ask for your private key or verification code; encountering such situations is definitely a scam.
Conclusion
The freedom and opportunities of Web3 come with high risks, but by diversifying funds storage, enhancing account security, and preventing social engineering attacks, investors can minimize risks. Remember the above measures and regularly review your security habits; your crypto assets will be safer. Protecting assets starts with small steps!
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