Here’s some recent security cases of crypto wallet that summarized by Math Wallet security team, hoping to help you prevent from the scams.
Common Security Issues
1. Backup Security
The first thing you need to do is to make sure the wallet backup process is safe.
For the backup process, please read How to back up wallet ?
Make sure you write down the content in paper or back up into a safe file offline and there is nobody or cemera around you. This backup is the only way to restore your wallet, so keep it in a safe place.
2. Fake Math Wallet official staff to defraud service fee and wallet key
In Telegram, WeChat and other social platform, some frauds pretend as the Math Wallet official staff and ask for users’ private key or send phishing web url in the name of helping solve problem for you.
Remind again: !!! The official staff of Math Wallet will never ask users for personal secure information such as private key or mnemonic for any reason. Details: How to prevent fraud in discord/telegram community?
3. ROI DApp and Tokens
Some ROI/MLM projects pretend to be misleading users that they have partnership with Math Wallet.
Although such a project does not ask for users’ private key, but their token has no value, and it is easy to collapse, resulting in huge assets losses.
Math Wallet has never worked with any such project. Math Wallet is a decentralized wallet, and a DApp could be open via Math Wallet DApp browser does not mean Math Wallet has the partnership with it. Please don’t be blinded by the high return of the pyramid-funded tokens and the false propaganda!
4. Malicious modification of application code
Although Math Wallet will review each launching DApp, Math Wallet cannot control their updates. There has a malicious DApp changed the withdrawal button to be the developers’ personal receive address, and defrauded the user to transfer the money to them. Math Wallet will immediately remove such DApp once found. We hope everyone could seriously check the specific content of the operation when entering your password.
5. Malicious Approve
Approve Request in DApp is to allow another account (It can be an ordinary personal account or a contract account), which can control your asset without your permission. Approve is a very dangerous action. Details: https://blog.mathwallet.org/?p=3638
How to prevent?
- Don’t reveal mnemonics, keystores, or private keys to anyone, even if it’s a so-called “official person.”
- Never enter mnemonics, keystores, or private keys into third-party websites or tools.
- The official website of the Math Wallet is: https://mathwallet.org
- Official support email: firstname.lastname@example.org
- Don’t be blinded by the high returns of pyramid schemes and false propaganda!
- Check the operation content when it requires password
- 10 More MathWallet Safety Tips
If you find a problematic app, click the top right corner to report it to us. The Math Wallet security team will reply as soon as possible, will verify and mark it as a risk app to alert other users.
Official Help → https://blog.mathwallet.org/?p=540