Thread by @interlockweb3

🎙️Web3 Security Q&A with our CEO Rick Deacon - @rickdeaconx

⚠️Part I: Common #Web3 Threats

(Part II: How Interlock solves this by using #AI - will be published tomorrow!)

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Q: What are the top security problems for crypto and Web3 users right now?

A: "The most prevalent security problems are all focused on social engineering:

1⃣Phishing attacks where attackers try to steal personal information by disguising a malicious website as a legitimate one.

2⃣Malware infections which can steal personal information, funds or take control of a device.

3⃣Scams that take advantage of the hype around #cryptocurrency and Web3 technologies to trick users into sending money or personal information.

4⃣Weak or compromised private keys which can lead to loss of assets.

5⃣Lack of #2FA which makes the user's account vulnerable to hacking."

Q: Can you explain social engineering and how it relates to #crypto and Web3 users?

A: "#Socialengineering, is the act of tricking someone into giving you something. Online, and especially in Web3, it's focused on convincing you that you need to click something immediately,

or reset your #password now, or perhaps sign a smart contract for an airdrop before time runs out. All the attacks are driven by convincing you out of your assets."

Q: Can you explain some of these attacks and what users can do to prevent falling prey to them?

A: "#Phishing attacks: They can be prevented by paying attention to links, where they’re from, where they go. Furthermore, use ThreatSlayer to stop these links before you even notice.

Credential theft: This is where someone uses a phishing attack or #malware to steal your logins and password to perform duties on your behalf - like transfer tokens. To prevent this, use multi-factor authentication (MFA) and use tools that block fake pages.

Impersonating #blockchain sites: These are fake sites pretending to be blockchain sites like #Coinbase or #Binance, for example. Then they’re used to trick you and steal your passwords. Use tools like our Bouncer and ThreatSlayer that block fake websites to prevent this.

Credit card phishing: This is phishing targeted to credit card users. It usually impersonates a credit card site. ThreatSlayer also blocks these!

Scam wallets: A #scam wallet is a fake crypto wallet that is designed to steal users' funds. Scammers create fake wallets and promote them as legitimate, or promising high returns. These wallets may look and function like legitimate wallets, but they're controlled by scammers."

Q: What are some rules of thumb for how they can protect themselves?

A: "Some rules of thumb to stay #secure as a crypto holder:

➡️Always keep your software up to date.

➡️Keep your private keys secure and do not share them. Use a hardware wallet for added security.

➡️Be cautious of phishing attempts and do not click on any links or enter personal information unless you are certain the source is legitimate.

➡️Use Two-Factor Authentication (2FA) and avoid public networks when accessing crypto accounts and sending transactions."

Q: What are some other security problems for crypto and Web3 users that you wouldn’t expect to hear about or are new to Web3-native audiences?

A: "Smart contracts, which are essentially just code, are unique to Web3 but also contain malicious attacks like wallet draining.

These are signed when you login to sites with your wallet, buy an #NFT, or interact with almost any Web3 product. These are new and unique, and we at Interlock are always looking for solutions to help prevent these attacks from succeeding."

Q: What technologies can be used to help prevent these or minimize the effect of these social engineering practices?

A: "MFA, physical storage for private keys, self-custody hardware wallets, and ThreatSlayer!"

Download ThreatSlayer and stay tuned for more on how it’s using the latest AI advancements to make sure you don’t get played by bad actors and social engineering!👇

chrome.google.com/webstore/detai…