Keeping your wallet safe

f3d3ra · May 19, 2023, 11:09am

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If you’re active in web3 this is a must-read for your wallets and funds safety

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Your Wallets can be compromised easily and all your funds gone in the blink of an eye Never think it can’t happen to you. If you’re active in web3 this is a must-read for you. Don’t work hard to lose everything eventually with a single click

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@0xAdesola

Your Wallets can be compromised easily and all your funds gone in the blink of an eye Never think it can’t happen to you. If you’re active in web3 this is a must-read for you. Don’t work hard to lose everything eventually with a single click https://twitter.com/0xAdesola/status/1659316804441853952/photo/1

9:55 PM - 18 May 20236829

In this thread, I’ll be covering
Links and DMs
Twitter Security
Discord Security
Passwords
Wallets Segregation
Protecting your Wallet

Let’s go…

Links and DMs
DO NOT click on ANY links OR open ANY files sent to you.
Assume they’re ALL scams.
Bookmark commonly used sites (OS, Blur, etc.)

If you need to open a link sent to you, do these:
Open it in Guest mode or Incognito mode.
Open it on a Browser that has no wallets connected.

Twitter Security
Enable 2FA for your Twitter AND email.
ANY Twitter profile with comments turned off are scam
Accounts running promotions of Airdrops claims are scam.
Scammers WILL clone your friend’s Twitter account and try to scam you.
People tagging you to claim a random Airdrop or NFTs are scam

Read permissions BEFORE connecting third-party apps to your Twitter.
Regularly Revoke Permission:

Go to Settings and Support.
Select Settings and Privacy.
Choose Security & Account Access.
Click on Connected Accounts.
Disconnect any apps you want to remove.

Discord Security
Assume EVERYONE sending you a DM or friend request is trying to scam you.
NEVER answer DMs from “mods” or “team members”, they will NEVER contact you through DMs.
NEVER do any over-the-counter trades.

ONLY conduct OTC trades on verified platforms such as x2y2.
Do NOT click private listing links sent by the seller. Instead:

Search the verified collection on x2y2.
Enter the NFT ID. If legitimate, it will display as being exclusively listed for your wallet.

Scammers will clone your friend’s discord account and try to scam you.
Scammers always target people looking for help in Discord channels.

Passwords
Do NOT store ANY passwords or mnemonic phrases online.
ALWAYS use a unique password for each account.
Do NOT use information related to you in any way.
ALWAYS use a variety of lower case and upper case letters, numbers, and special characters.

Wallets Segregation
Cold Wallet: For valuable assets.
Hot Wallet: For low-value items and daily use.
Burner Wallet: For minting, Testnets, or other high-risk interactions.
Let’s cover each

Cold Wallet:
This is your hardware wallet where you store all your valuables offline (Ledger, Trezor.)
Do NOT connect this wallet to any platform/website.
ONLY use for transactions between YOUR wallets.

Hot Wallet:
This is your daily use wallet that connects to reputable platforms (OS, Blur, etc.)
ONLY store low-value items and small amounts of crypto in this wallet.
ONLY use this wallet for buying, selling, and trading.

Burner Wallet:
ONLY use for high-risk interactions and Testnets
NEVER store crypto or NFTs in this wallet.
ONLY store small amounts of crypto for gas fees in this wallet.
ALWAYS Transfer NFTs out and revoke permissions after minting.

Protecting your Wallet
Revoke permissions and connected sites regularly, I use @RevokeCash
Double-check requests before giving approval. Extensions like @wallet_guard and @RevokeCash can provide extra protection.
NEVER click on random NFTs airdropped in your wallet or try to sell them
NEVER share your seed phrase unless you’re recovering assets.
NEVER give your seed phrase to anyone, no matter who they claim to be.