Wallet Security 101

This article will provide an overview of the top things you can do to keep your Brokers (and other assets) safe. 

Future articles will provide more depth on these and the methods scammers use to try and trick you.

Slow Down

FOMO has us all trying to make sure we get a WL (whitelist) spot, mint, or airdrop from the latest project.  We are trained to click/act as fast as possible to make sure we don't miss out.  Scammers prey on this - hoping you won't notice the red flags of the scam.

The best thing you can do to avoid getting hacked is slow down.  Look at the information being provided and take the time to evaluate if is actually legitimate.  Better to be safe than loose existing assets.

Verify Links

Scammers are trying to take you to a website that looks familiar to you but they control it.  To avoid this you should be double checking where links you click on take you.  After clicking a link (for a mint for example) make sure the domain name (URL) shown in the browser matches official links from the project.

Lets take a look at a fake one so you can see an example of what to look for.  I don't have any saved from when CyberBrokers minted so I will use the recent Moonbirds launch as an example.  This was an allow list scam that started on Twitter and also had fake DMs.  The Twitter profile looks legit on first pass - has a verified icon, lots of followers, etc.  You click the link and see a site that looks legit as well.

If you follow the first recommendation you will notice the following issues:

The verify link is in the wrong place on the Twitter profile. The Twitter account was created in 2013. The offer sounds too good to be true - limited supply, only available for a few hours, free registration, only gas fees. The domain name moonbirds.io does not match the official project domain of moonbirds.xyz.

 

If you rushing and not paying attention to details, this can look legitimate.  When you slow down though you see the red flags. 

 

Use Two Wallets

If high value assets aren't in a wallet that is compromised, then they are safe.

Create a new wallet that will be used for Broker (and other asset) storage.  We will call this the Cold Wallet meaning you won't use it as much.

Move high value assets like Brokers into the Cold Wallet. If you hold a lot of ETH or other coins, move most of it into Cold Wallet as well. Limit interaction with this wallet as much as possible.

 

A future article will go into more detail on this, the details, and using more secure Cold Wallets like a Ledger.  For now if you start using two separate wallets you will be on the right path to increase asset security.

This is where you will mint new projects and purchase NFTs from. Once minted/purchased move to Cold Wallet Only keep enough ETH/coin in this wallet to cover the above costs.

Your existing wallet will then be called the Hot Wallet.

 

Turn off DMs

Phishing messages are rampant in Discord direct messages. You can avoid all of them by turning off DMs from people you don't know

• Settings > Privacy & Safety > Allow direct messages from server members > turn off.
  • This will now be the default setting for all new servers you join.
• This will also give you the option to make this the setting for all servers you are currently in.

You can also turn off DMs in Twitter as well.

• More > Security and account access > Allow messages requests from everyone > uncheck.

 

You can also do this on a per server basis

• Click on a server you are in (at the top), click Privacy Settings and turn DMs off.

 

 

Known Marketplaces

Only buy or sell your Brokers (and other NFTs) using well known marketplaces like Opensea or LooksRare.

Having DM discussions about price of a sale is perfectly fine.  When it is time to buy or sell though, execute the transaction through a known marketplace.  If a buyer or seller keeps trying to direct you to another site, might be time to leave the discussion and move on.  

Remember the Verify Links section.  If you links are provided to NFTs make sure they are taking you to known marketplaces and not fake sites.

Unless it's a 100% trusted source do not trade or use any trading sites.