Web3 security is web2 security with higher stakes
AI summary of the linked articleWeb3 security is essentially web2 security with higher stakes, and the author's view is that wallet holders can reduce risk to a manageable level but cannot reach perfect safety. The article recommends standard hygiene such as password managers, hardware-key or app-based MFA rather than SMS, and a split between a multisig cold storage wallet and a hot wallet with limited funds. It also covers seed phrase storage, with Phil Mohun advising that multisig quorums should not be controllable by others alone, and notes that Safe launched RecoveryHub for social recovery. Vitalik is quoted calling for smart wallets as a longer-term fix. |
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1 comment mishaSubmitter Always good to address safety once in a while and there is a lot of practices I can agree with in this blogpost. Stay safe out there! my goal was explaining how to have peace of mind about your crypto wallet(s). Bad news: you probably, uh… shouldn’t. We’re not there yet. You can minimize risks, but if you handle significant funds onchain, keeping them safe will be a bit stressful. What you can have is stoic acceptance. Know the common threats, do what you can to reduce your exposure, and then live your life. Perfect invulnerability to any conceivable attack is impossible — and “nearly invulnerable to most attacks” is still pretty inconvenient. |