Gm❤️. Crypto is full of opportunities to make insane amounts of money.
But beyond that, there are also many more scams, rugs, exploits and fraudulent projects.
So the question is how do you identify these malicious exploits and separate them from genuine opportunities?
How do you ensure you're able to capitalize on opportunities early without exposing yourself to rugs?
Here's a comprehensive guide to staying safe while DYOR-ing👇🏽
#1. Token Analysis
If you're trying to ape a token, copy the CA and post in tools like
honeypot.is,
@Rugcheckxyz, or
@Token_Sniffer to check if there are any nasty surprises hidden in the token's smart contract.
You can also copy the CA and paste it into
@gmgnai to verify things like:
• if the contract is renounced
• if the token is a honeypot
• if the smart contract is verified & open-source, and so on.
Finally, always verify the token with
@bubblemaps to be sure that you're not buying into a token that is largely controlled by an individual intending to rug.
#2. Link Analysis
One of the most common ways accounts get hacked and wallets get drained is when people click the wrong links.
So how do you prevent this?
• Always double-check and triple-check every link you are about to click
• Only click links from official channels, meaning even if it's a site you're familiar with, always check the official handles to be sure the URL has not changed
• If you ever get a link directing you to an unbelievable offer that seems too good to be true, there's a very high chance it is, and you're about to get hacked!
Now you could do all of this and still fall victim to scam links, especially when official project accounts get hacked. So in addition to the above, you should also have extensions like
@realScamSniffer and
@PocketUniverseZ installed to give you on-the-go protection.
These tools will also protect you from signing malicious transactions on your wallets
This is a big deal because last month alone, more than $11m was lost by a total of 15.5k victims simply because they signed phishing permit signatures.
Don’t joke with this!
#3. Permissions and Approvals
Early this month, someone lost $90,691 due to an exploit from an approval they signed 499 days before the incident!
This is why it is always important that you regularly review and revoke old permissions and approvals.
Many people just connect wallets to sites like airdrop claims and so on, and they forget to revoke all permissions given after claiming their tokens.
Days, weeks, or even months later, a malicious actor gains access to that domain and then uses it to gain access to your social accounts or wallet address.
• Don't link your wallet to just any site
• Always remember to revoke spending approvals and permissions when you link your account or wallet to any site!
You can use tools like
@RevokeCash and
@realScamSniffer to do this.
If you need a detailed guide, use this:
x.com/SamuelXeus/status/1957…
#4. Account Analysis
One common tactic scammers use in crypto is to keep changing their X account names and posing as different individuals after each scam.
Luckily, there is a way for you to verify the name history of any account and see if it's associated with a scammer or not.
• Go to
t.me/the_mugetsu_bot (it's a TG bot)
• Use this command: /twitter_reuse [twitter-handle]
Note that you'll need a subscription to access this feature. You can also use Mugetsu to check the domain age of a website and verify if a website is reused.
Another useful tool you can use is the
@OSINTindustries toolset you can use to verify emails, phone numbers, account names, real names, and even wallet addresses.
#5. Other Security Tips
• Make sure you have done 2FA for all your accounts and emails
• NEVER use your main wallet to farm airdrops. Use a separate one instead and don't connect that main to anything!
• Get a cold wallet. Make sure you order directly from the company so you don't end up buying something that's already compromised
• NEVER share your seedphrase or passwords with ANYONE.
Most of the people you think are your friends are only waiting for an opportunity to exploit you
Oh, and some months ago, Zachxbt released a list of tools he uses for security research. Find them here:
x.com/bimXBB/status/19044517…
Lastly, security is the one thing you MUST NOT joke about. As you're trying to build your portfolio, proper security practice will help you ensure you don't go back to 0.
You're welcome