Cold Wallet Security In Web3 !!!

❤️❤️ Hello friends ❤️❤️

Web3 ecosystem every day is growing rapidly and brings many innovations to our lives. In this way, we learn, develop, socialize and make money. This rapid change and development on Web3 brings many risks as well.

The most important factor in the crypto ecosystem is decentralization and web3 has been developed for this. In order to be able to process at the decentralized ecosystem, we need to give some wallet approvals and we need to perform carefully and safely when giving these approvals. Otherwise, our wallets are in the hands of malicious people and our assets are exploited. Recently, we’ve heard of many cases of fraud, perhaps we’ve been exposed to these cases. I will specify some of the operations that need to be done in order to avoid such problems.

First of All, Let’s Get to Know The Wallet Types !!!

**1️)**Hot Wallet: It is the type of wallet where we do not have the private key and the initiative is completely on the opposite side. Centralized Exchange Wallets (Binance, Huobi)
**2️)**Cold Wallet: It is the type of wallet in which the secret words and the private key are in the owner of the wallet. The initiative is entirely in the owner of the wallet. (Metamask, Taho)
**3️)****Hardware Wallet: **A cryptocurrency wallet that stores the user’s private keys (critical information used to allow sending transactions on the blockchain network) on a secure hardware device. (Ledger)

## 🆘 Some Fraud Cases 🆘

🚫Cold Wallet Hacking
🚫 Stock Market Hacking
🚫Smart contract hacking
🚫Presale scam
🚫Airdrop token and Nft scam
🚫OTC scam
🚫Rugpull
🚫Viruses that infect a computer or mobile phone
🚫Infected files shared via social media
🚫Manipulation

Cold wallet fraud, which has been frequently encountered recently, has caused many people to lose their assets, and this is a very sad situation. Because the slightest mistake causes the loss of all your efforts.

Why are you exposed to cold wallet scams?
🚨Connecting with Scam Smart contract:
It is one of the most common cases. If you give wallet approval to an unfamiliar project or a contract that comes via airdrop (token-Nft), it can cause the destruction of assets. Therefore, it must be thoroughly researched. Your related project should be confirmed from social media channels, discord or telegram channels. However, you still have to be very careful. Because discord-telegram or twitter accounts can also be hacked.

🚨Sharing secret words or private key with others:
Wallet Address = Your Home Address
Secret word-Private key = Key to your house
You should not share your secret words and private key with anyone. The project owner or manager will never ask you for these words. They are personal to you and should stay with you. Whoever is asking you for this data is ABSOLUTELY SCAM. Never share it with anyone. Never save this data on your computer or mobile device. Be sure to write it down in a manual notebook and keep it. It is the most reliable way.

🚨Harmful viruses infecting your Computer or Mobile device:
Harmful viruses infecting your device, due to your visits to unsafe sites or clicking on files or links sent to you by people you do not know, through computer or mobile devices, may give the cold wallet control to the initiative of malicious people.

⚠️If you have interacted with your cold wallet with a scammed smart contract, you must immediately revoke the consent given.
There are 2 ways to revoke approvals for smart contracts.
✅https://revoke.cash/
✅https://etherscan.io/ (Bsc-Polygon-Arbitrum-Optimism and many networks)

Revoke Cash
**1️)**Connect to the site (https://revoke.cash/) and link the wallet from the “Connect wallet” tab in the upper right.

**2️)**Find the relevant contract from the list and click the revoke tab on the right. After you approve the wallet for Fee, your unlimited approval will be revoked.

Note: Make your cancellation on the network where you made the contract confirmation. Also, select the most recent contracts from the list to find the relevant contract.

Etherscan
**1️)**Connect to the site (https://etherscan.io/) and click the “More” tab in the upper right and click Token Approvals from the opened tab.

**2️)**Connect your wallet by clicking the Connect to web3 tab in the upper left corner of the page that opens.

**3️)**Select the contract type from the contract types (Erc-20, Erc-721-Erc-1155) in the upper left and find the contract you find suspicious. Click the revoke tab on the right side of the contract and give your wallet approval for the fee. The revoke process will be completed.

Note: Revoke the contract on whichever network you made the contract confirmation on. (You can access the scanning site of other networks by clicking the link under the More tab on the upper right and the MULTICHAIN ADDRESSES in the lower left cross on Etherscan). Select contracts from the list.

⚠️If your cold wallet’s secret words or private key are in the hands of other people, transfer your assets to another wallet as soon as possible. Do not use your old wallet again. If your hacked wallet has a bot installed, your chances of recovering your assets will be very limited. You can get support from an expert software developer.

Precautionary ways in cold wallet transactions !!!

✅Never share your secret word and private key with anyone, do not keep it in a digital environment. Be sure to keep it in a notebook and keep it.

✅ Make sure to use an anti-virus program on your computer or mobile device. This will protect you from many attacks. In addition, confirm the reliability of the sites you will connect to from social media accounts such as discord, twitter.

✅ Make sure to use a Burner (spare) wallet for suspicious transactions.

✅Create a new wallet in a different browser and use this wallet as the main wallet, keep your assets in this wallet and do not interact for any contracts. Just transfer any amount of assets to your favorite wallet.

✅There are extensions of several beautiful projects that report the risk status of contracts and you can use them safely. These extensions will make your work easier.

💚https://www.joinfire.xyz/?utm_source=referral&referralCode=oknnEEaxj
![image](ipfs://bafkreic5e56udqxys4n3wqdhhrm6ubwxhcfaekjhbsgdwpjmw3n75cto2u)

💚 https://revoke.cash/extensionhttps://revoke.cash/extension

💚https://dash.pocketuniverse.app/ref/0x5B1899D88b4Ff0Cf5A34651e7CE7164398211C66 (Monthly fee is $4.99) By inviting your friends, you can get free usage for a certain period of time.

✅Delegate Cash, a crypto proxy project where you can connect your cold wallets to hot wallets, looks fun.
https://delegate.cash/

✅You can use a multising wallet to keep your assets safe. By creating a safe wallet with at least 2 different wallet signatures, you can transfer your assets to this wallet and store them safely.
https://safe.global/

✅Using a hardware wallet will make it easier for you to transact with more confidence.
https://shop.ledger.com/

✅ Disconnect your wallet connection from the sites at regular intervals. This gives you additional protection. However, in case of connection with the contract, the contract approval must be canceled.(Revoke)

✅ In the approval you will give for a project contract, definitely give approval by setting a limit, never give unlimited approval.

✅ Never pay attention to the administrators or people who send a direct message via Discord-Telegram-Twitter or e-mail, saying that you have won an airdrop, award or free mint. No official will be the first to message you. Don’t forget;
“Free cheese is in a mousetrap.”

✅To review the risk status of smart contracts, log in to https://de.fi/scanner Type the relevant smart contract in the search bar and confirm it. In a few minutes, the detailed risk report of the smart contract will appear.

✅Do not interact with nft and its derivatives on the Opensea site, which are found in the Hidden tab and sent for free. Be sure to make safe transactions after providing the necessary controls.

✅You can contact the project management at https://boringsecurity.com/ for training support on wallet security.

✅ For Airdrop notifications, you can safely use the links below for accurate and reliable sources. Also, do not forget to get confirmation from the project teams.
https://earni.fi/
https://earndrop.io/
https://www.daylight.xyz/

I hope it was useful content. Thank you for reading.
Our priority is not to lose money, stay safe ❤️