Web3 Security Trading Guide: Protect Your Digital Assets

With the continuous development of the blockchain ecosystem, on-chain transactions have become an indispensable part of the daily operations of Web3 users. User assets are migrating 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 an on-chain environment, users need to be responsible for every interaction, including importing wallets, accessing applications, signing authorizations, and initiating transactions. Any operational mistake can lead to security risks, resulting in serious consequences such as private key leakage, authorization abuse, or phishing attacks.

Although mainstream wallet plugins and browsers have gradually integrated risk identification and alert functions, relying solely on passive defense tools is still difficult to completely avoid risks in the face of increasingly complex attack methods. To help users better identify potential risks in on-chain transactions, this article is based on practical experience and outlines high-frequency risk scenarios throughout the entire process, combined with protective suggestions and tool usage tips, to formulate a systematic on-chain transaction security guide, aiming to help every Web3 user build a "self-controllable" security defense.

Core Principles of Secure Trading

1. Refuse to sign blindly: Do not sign transactions or messages that you do not understand.
2. Repeated verification: Before conducting any transaction, be sure to verify the accuracy of the relevant information multiple times.

1. Safe Trading Recommendations

Safe 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 hardware wallet or software wallet. Hardware wallets offer offline storage, reducing the risk of online attacks, and are suitable for storing large amounts of assets.

2. Double-check the transaction details: Before confirming the transaction, be sure to verify the receiving address, amount, and network 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 enhance 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 Conduct Safe Transactions

A complete decentralized application transaction process includes several steps: wallet installation, accessing the application, connecting the wallet, message signing, transaction signing, and post-transaction processing. Each step carries certain security risks, and the following will detail 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.
• When backing up your seed phrase, store it in a secure offline location, such as writing it down on paper and keeping it in a safe.

2. Access the application

• Verify the correctness of the website address, and avoid accessing it directly through search engines or social media links.
• Multiple party verification application website, can be verified through authoritative platforms or official social media accounts of the project.
• Add the secure website to your browser favorites, and access it directly from the favorites later.
• Check if the address bar is an HTTPS link; the browser should display a lock icon.

3. Connect Wallet

• Be cautious of frequent wallet prompts for signing, as it may be a characteristic of phishing websites.

4. Message Signature

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

5. Transaction Signature

• Carefully check the recipient's address, amount, and network.
• It is recommended to use offline signing for large transactions.
• Pay attention to gas fees and ensure they are reasonable.
• For users with a higher level of technical knowledge, the interactive target contract can be reviewed through a blockchain explorer.

6. Post-transaction processing

• Timely check the on-chain status of transactions to confirm alignment with expectations.
• Regularly manage ERC20 Approval authorizations, adhering to the principle of minimal authorization.
• Timely revoke unnecessary token authorizations, and use relevant tools to check and manage authorization status.

3. Fund Isolation Strategy

1. Use a multi-signature wallet or cold wallet to store large amounts of digital assets.
2. Use a plugin wallet or a regular wallet as a hot wallet for daily interactions.
3. Regularly change hot wallet addresses to reduce the risk of continuous exposure.

If unfortunately encountering phishing, it is recommended to immediately:

• Cancel high-risk authorization.
• For permits that have been signed but not executed, initiate a new signature immediately to invalidate the old signature.
• If necessary, quickly transfer the remaining assets to a new address or cold wallet.

4. Secure Participation in Airdrop Activities

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

5. Suggestions for Choosing and Using Plugin Tools

1. Choose popular and trusted browser extensions.
2. Before installing a new plugin, check the user ratings and installation numbers.
3. Regularly update plugins to obtain the latest security features and fixes.

Conclusion

By following the above security trading guidelines, users can interact more confidently within the complex blockchain ecosystem and enhance their asset protection capabilities. Establishing systematic security awareness and operational habits is key. By using hardware wallets, implementing fund isolation strategies, regularly checking authorizations and updating plugins, as well as adhering to the principles of "multi-verification, rejecting blind signing, and fund isolation" in trading operations, true security on the chain can be achieved.