Web3 Security Trading Guide: Protect Your digital asset

With the continuous development of the blockchain ecosystem, on-chain transactions have become an indispensable part of daily operations for Web3 users. User assets are migrating from centralized platforms to decentralized networks, which means that the responsibility for asset security is shifting from the platform to the users themselves. In the on-chain environment, users need to be responsible for every step of interaction, including importing wallets, accessing decentralized applications, signing authorizations, and initiating transactions. Any operational mistake could become a security risk, leading to serious consequences such as private key leaks, authorization abuse, or phishing attacks.

Although the current mainstream wallet plugins and browsers have gradually integrated features such as phishing detection and risk alerts, relying solely on passive defense tools is still difficult to completely avoid risks in the face of increasingly complex attack methods. To help users more clearly identify potential risks in on-chain transactions, this article organizes high-risk scenarios throughout the entire process based on practical experience, and combines protective suggestions and tool usage tips to develop a systematic on-chain transaction security guide, aimed at helping every Web3 user build a "self-controllable" security defense.

Core Principles of Secure Trading

• Refuse to sign blindly: Do not sign transactions or messages that you do not understand.
• Repeated Verification: Before making any transaction, make sure to verify the accuracy of the relevant information multiple times.

1. Safety Trading Recommendations

Secure trading is key to protecting digital assets. Studies show that using secure wallets and two-factor authentication (2FA) can significantly reduce risks. Here are specific recommendations:

1. Use a secure wallet: Choose a reputable wallet provider, such as hardware wallets or well-known software wallets. Hardware wallets provide offline storage, reducing the risk of online attacks, making them suitable for storing large amounts of assets.

2. Double-check transaction details: Always verify the receiving address, amount, and network before confirming the transaction to avoid losses due to input errors.

3. Enable Two-Factor Authentication (2FA): If the trading platform or wallet supports 2FA, be sure to enable it to increase account security, especially when using hot wallets.

4. 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 Trade Safely

A complete decentralized application trading process consists of several 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 introduce the precautions to be taken during the actual operation.

1. Wallet Installation

• Download the wallet plugin from the official app store to avoid installing from third-party websites.
• Consider using a hardware wallet to enhance the security of private key management.
• Store the backup seed phrase in a secure physical location, away from digital devices.

2. Access decentralized applications

• Be cautious of phishing attacks on websites, especially phishing applications that are disguised as airdrops.
• Confirm the correctness of the website: Avoid direct access through search engines or social media links.
• Multiple verification application websites can use well-known DApp markets or project official social media accounts for validation.
• Add the secure website to your browser favorites.
• Check the address bar: Pay attention to whether the domain name resembles a fake one and ensure it is an HTTPS link.

3. Connect Wallet

• Pay attention to the risk warning feature of the wallet plugin.
• Be cautious of unusual behavior that frequently requests signatures, as it may be a sign of a phishing website.

4. Message Signature

• Carefully review the signature content and avoid blind signing.
• Understand common signature types: eth_sign, personal_sign, eth_signTypedData (EIP-712), etc.

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 further examine the interaction target contract through the blockchain explorer.

6. Post-transaction processing

• Timely check the on-chain status of transactions to confirm it aligns with expectations.
• Regular management of ERC20 Approval authorization:
  • Minimize authorization limit.
  • timely revoke unnecessary authorizations.

3. Fund Isolation Strategy

• Use multi-signature wallets or cold wallets to store large amounts of assets.
• Use a plugin wallet as a hot wallet for daily interactions.
• Regularly change the hot wallet address.

Emergency measures in case of phishing situations:

• Use the authorization management tool to revoke high-risk authorizations.
• For permit signatures, a new signature can be initiated to invalidate the old signature.
• Quickly transfer remaining assets to a new address or cold wallet if necessary.

Four, Safely Participate in Airdrop Activities

• In-depth research on the project background.
• Use a dedicated address to participate, isolating the main account's risk.
• Be cautious when clicking links and obtain information only through official channels.

5. Recommendations on the Selection and Use of Plugin Tools

• Choose trusted extensions.
• Check user ratings and installation numbers before installation.
• Regularly update the plugin to obtain the latest security features.

Conclusion

In the blockchain ecosystem, secure interactions require users 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 trading operations, truly secure and controllable on-chain transactions can be achieved.