Ensuring Security in Web3 Transactions: Key Precautions for Users

Binance Blog published a new article, highlighting essential precautions for users interacting with digital assets and decentralized applications (DApps) in the Web3 environment. The article emphasizes the importance of understanding the security measures necessary to protect one's funds while navigating this innovative digital landscape. As blockchain transactions are irreversible once confirmed, users must carefully review the signature page before authorizing any actions. This step is crucial to ensure that funds are sent to the correct recipient and to prevent unauthorized access to assets. The article underscores the significance of verifying the entire recipient address, not just a few characters, to avoid sending funds to the wrong destination. It also distinguishes between signing a transaction and signing a message, both of which can pose serious risks if not handled correctly. Users are advised to be vigilant when interacting with decentralized exchanges and DApps, as these platforms often require users to review and confirm transactions or signature requests. This moment of confirmation is critical for safeguarding assets before they leave the user's control. Furthermore, the article provides insights into common traps such as the "poison address" trap, phishing websites, fake airdrops, and Ponzi schemes. These scams are designed to deceive users into compromising their wallet credentials or authorizing malicious transactions. To counter these threats, the article recommends several preventive measures, including hiding small or spam transactions, using address books for frequent recipients, and conducting test transactions for significant transfers. Users are also advised to meticulously check URLs to avoid phishing sites and to verify information independently through official channels. The article concludes by offering golden rules for on-chain safety, such as conducting thorough research before connecting wallets to any DApp, avoiding the convenience of copy-pasting addresses due to the risk of clipboard hijackers, and triple-checking recipient addresses before confirming transfers. It also warns against social engineering tactics and emphasizes the importance of understanding permissions when connecting wallets or signing messages. By adhering to these guidelines and remaining informed, users can significantly reduce the risk of losing their assets and confidently explore the world of decentralized finance. The article serves as a reminder that vigilance and caution are the best defenses in protecting one's digital assets in the Web3 ecosystem.