Digital Fortress, Part 2: How to securely interact with Web3 websites?

cointelegraph.com:

Although good-willed people try to flourish in the crypto economy, the crypto space is not completely free from malicious actors. Here are a few of the threats lurking in the shadows of the blockchain world:

How a phishing attack works.

Bookmarking is not only a faster way of accessing commonly used websites but also a safer one. Yes, users can open their browsers and access their bookmarked websites with a single click. But bookmarking also prevents users from accidentally opening phishing websites that have an almost identical link, directing the user straight to the previously bookmarked website instead.

When users access websites that use crypto technology, the first thing that welcomes them is the pop-up asking them to connect their wallet. Connecting their wallet to a website allows the platform to receive their public wallet address and empowers the website to request transaction authorizations from their wallet. Of course, users need to manually accept these transactions for them to happen, but without the necessary caution, one click can cause irrecoverable losses in funds.

Users can also encounter buttons asking them to connect their wallets to valid-looking phishing websites. These buttons can look like they are only asking to connect to the user’s wallet when, instead, they are asking for more than a user’s wallet address. In fact, websites can ask for access to all assets in a user’s wallet. This is why, users should be careful and read the exact actions that are requested from their wallets before giving permission.

A Web3-focused security tool can instead check these requests by analyzing smart contracts, identifying dangerous logic, critical vulnerabilities and compromising permissions with intentions to