Final chapter of the security special issue | OKX Web3: Safeguarding user assets
Original source: OKX
Introduction
OKX Web3 specially planned the "Security Special Issue" column to provide special answers to different types of on-chain security issues. Through the most real cases that happened to users, and in conjunction with experts or institutions in the security field, dual sharing and answers from different perspectives, we sorted out and summarized the security transaction rules from the shallow to the deep, aiming to strengthen user security education while helping users learn to protect their private keys and wallet assets from themselves.
Thank you for your company all the way~
Finally! The "Security Special Issue" series initiated by the OKX Web3 wallet security team has come to an end~
Don't put it in your favorites and let it gather dust! Don't wait a billion minutes to learn!
Wallet and asset security are no small matter, you must see it with your own eyes and keep it in mind~~
I. Content Review
First of all, I would like to thank guests in the security field such as SlowMist, CertiK, WTF Academy, OneKey, BlockSec and GoPlus for their joint support for this series of content. We started with the most real cases happening around users, and sorted out the risk types, advanced tools, safety rules, protection suggestions, etc. in different scenarios.
Looking back at the entire series, it has covered 6 popular scenarios in the field of cryptographic security, including private key security, MEME transaction security, money laundering security, device security, and DeFi security. It aims to strengthen user security education while helping users learn to protect their private keys and wallet assets from themselves. Users can read on demand:
《Security Special Issue 01｜OKX Web3&SlowMist: Sharing Experience of "Hundreds of Frauds"》
《Security Special Issue 02 | OKX Web3 & CertiK: MEME "Big Adventure" and Security "Truth"》
《Security Special Issue 04｜OKX Web3 & OneKey: Add some "Buff" to device security》
《Security Special Issue 06｜OKX Web3 & GoPlus: On-chain security monitoring and post-event rescue》
In general, current security incidents are characterized by diversity, concealment, and complexity, but most of them are caused by users being stolen or induced to enter private keys or mnemonics, such as fake airdrops, fake websites, fake customer service, etc., so you must always be vigilant and do not easily click on unfamiliar links, leak information to strangers, enter unfamiliar websites, etc., and do not easily leak your private keys and mnemonics.
Please remember: in the crypto world, safety comes first.
Second, the latest security updates of OKX Wallet
Secondly, as a self-hosted wallet, the private keys and assets of the OKX Web3 wallet are completely controlled by the user. The OKX Web3 wallet will protect the security and privacy of users 24/7. So we will share with you some OKX Web3 wallet security updates in the final chapter.
Currently, the OKX Web3 wallet has officially launched a security center. Users can click on the relevant banner on the Web3 wallet webpage to go there, or click: https://www.okx.com/zh-hans/web3/security?source=gtm to view it. The center covers five major aspects, including code open source, multi-party audit, and vulnerability bounty program, and supports public verification by users, aiming to create a safer Web3 ecosystem.
First, in terms of multi-party audit, the security standards of the OKX Web3 wallet have been tested and verified by a third-party security audit company. The audit reports of SlowMist and Certik are now public and users can view them at any time. In the future, the OKX Web3 wallet will continue to be regularly audited by reputable security audit companies to ensure asset security.
Second, in terms of code open source, OKX Web3 wallet has completed the core code open source, including mnemonics, private keys, MPC and other core algorithms, which have been widely verified by the technical community, and the implementation details are open to users to view and audit freely on GitHub, which is more open and transparent.
Third, in terms of intercepting third-party risks, OKX Web3 wallet can help users filter high-risk tokens and domain names and protect assets from threats by providing powerful security monitoring. So far, 153K+ malicious domain names, 1.5M+ similar domain names, 1.28M+ high-risk tokens, and 153K+ high-risk transactions have been intercepted for users.
Fourth, OKX Web3 wallet has also launched a bug bounty program to encourage users and developers to submit service errors and security vulnerabilities, and has prepared generous bug bounties, so as to work with users to build wallet security.
While redefining the wallet experience, the OKX Web3 wallet protects the security of user assets and strives to protect users from starting their on-chain exploration journey more safely.
III. 7X24-hour security escort
As the industry's leading one-stop Web3 portal, the OKX Web3 wallet protects the security of user assets 7X24 hours, such as:
1. In terms of private key security
In order to ensure the security of user wallet private keys, the entire underlying layer of the OKX Web3 wallet is not connected to the Internet. User mnemonics and private key-related information are all encrypted and stored locally on the user's device. The relevant SDK is also open source and has been widely verified by the technical community, making it more open and transparent. In addition, the OKX Web3 wallet has also conducted strict security audits through cooperation with well-known security agencies such as SlowMist.
In addition, in order to better protect our users, the OKX Web3 security team has provided strong security protection for private key management and is continuously iterating and upgrading. Here is a brief share:
1) Two-factor encryption. At present, most wallets usually use passwords to encrypt mnemonics and save the encrypted content locally. However, if the user is infected with a Trojan virus, the Trojan will scan the encrypted content and monitor the password entered by the user. If it is monitored by the scammer, the encrypted content can be decrypted to obtain the user's mnemonic. In the future, the OKX Web3 wallet will use a two-factor method to encrypt the mnemonic. Even if the scammer obtains the user's password through the Trojan, it will not be able to decrypt the encrypted content.
2) Private key copying security. Most Trojans will steal information from the user's clipboard when the user copies the private key, resulting in the leakage of the user's private key. We plan to help users reduce the risk of private key information being stolen by increasing the security of the user's private key copying process, such as copying part of the private key, clearing the clipboard information in time, etc.
2. At the level of APP & data security
OKX Web3 Wallet uses a variety of means to reinforce the App, including but not limited to algorithm obfuscation, logic obfuscation, code integrity detection, system library integrity detection, application anti-tampering, and environmental safety detection. Multiple reinforcement and detection methods, which minimize the probability of users being attacked by hackers when using the App, and at the same time, it can also minimize the black industry from repackaging our App and reduce the probability of downloading fake Apps.
In addition, at the Web3 wallet data security level, we use the most advanced hardware security technology and chip-level encryption to encrypt sensitive data in the wallet. The encrypted data is bound to the device chip. If the encrypted data is stolen, no one can decrypt it.
3. At the third-party detection level
We provide many security mechanisms to protect user funds:
1) Risky domain name detection: When a user accesses a DAPP, the OKX Web3 wallet will perform detection and analysis at the domain name level. If the user accesses a malicious DAPP, it will be intercepted or reminded to prevent the user from being deceived.
2) Pixiu disk token detection: OKX Web3 wallet supports comprehensive Pixiu disk token detection capabilities, actively blocks Pixiu disk tokens in the wallet, and prevents users from trying to interact with Pixiu disk tokens.
3) Address tag library: OKX Web3 wallet provides a rich and complete address tag library. When users interact with suspicious addresses, OKX Web3 wallet will give timely warnings.
4) Transaction pre-execution: Before users submit any transaction, OKX Web3 wallet will simulate the execution of the transaction and display the asset and authorization change results to users for reference. Users can judge whether the results meet expectations based on the results, so as to decide whether to continue submitting the transaction.
5) Integrated DeFi applications: OKX Web3 wallet has integrated services of various mainstream DeFi projects. Users can safely interact with integrated DeFi projects through OKX Web3 wallet. In addition, OKX Web3 wallet will also recommend paths for DeFi services such as DEX and cross-chain bridges to provide users with the best DeFi services and the best Gas solutions.
6) Black address tag library: OKX Web3 wallet has established a rich black address tag library to prevent users from interacting with known malicious addresses. The tag library is continuously updated to respond to changing security threats and ensure the security of user assets.
7) More security services: OKX Web3 wallet is gradually adding more security features and building more advanced security protection services, which will better and more efficiently protect the security of OKX Web3 wallet user assets.
4. Other aspects
1) Security plug-in: OKX Web3 wallet provides built-in anti-phishing protection to help users identify and block potential malicious links and transaction requests, and enhance the security of user accounts.
2) 24-hour online support: OKX Web3 Wallet provides customers with 24-hour online support, promptly follows up on incidents of stolen or defrauded customer assets, and ensures that users can quickly get help and guidance.
3) User education: OKX Web3 Wallet regularly publishes security tips and educational materials to help users improve their security awareness, understand how to prevent common security risks, and protect their assets.
OKX Web3 Wallet attaches great importance to the security of user assets, and continues to invest in protecting user assets, providing multiple security mechanisms to ensure the security of users' digital assets.
Fourth, security is an eternal topic in the encryption industry
In the tide of the digital age, the encryption industry, as an emerging and rapidly developing field, is increasingly attracting global attention. However, with the widespread application of cryptocurrency and blockchain technology, various security issues cannot be ignored. Although blockchain technology provides a high level of security for cryptocurrencies, the security of the wallet itself is affected by many factors, such as private key security, phishing, or user errors that lead to private key leaks.
The decentralized nature of Web3 wallets enables users to fully control their digital assets without relying on any central agency or third-party services. However, this also means that users need to bear the responsibility for the security of their assets. As users, they should fully realize the importance of wallet and asset security and take effective measures to ensure it.
A safe and reliable Web3 wallet can enhance users' trust in the crypto industry. With the continuous development of cryptocurrency and blockchain technology, users' demand for asset security is becoming more and more urgent. As a platform or wallet, it should continue to provide users with a safe and convenient asset management platform through technological innovation, security education and other efforts. Provide solid security guarantees for the healthy development of the crypto industry.
Safety is of paramount importance. It concerns you and me.
Disclaimer:
This article is for reference only. This article is not intended to provide (i) investment advice or investment recommendations; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Holding digital assets (including stablecoins and NFTs) involves high risks and may fluctuate significantly or even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you based on your financial situation. Please be responsible for understanding and complying with local applicable laws and regulations.
This article comes from a contribution and does not represent the views of BlockBeats.
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