Join our upcoming ODFC webinar to learn how to safely use decentralized applications (dApps) while minimizing threats to your digital assets.
To book your ticket, go to webinar.odfcdigital.com
When you connect your wallet to a dApp, you're essentially allowing the application to:
- See your wallet address
- View your account balance and activity
- Suggest transactions for your approval.
Simply connecting your wallet to a dApp is generally low risk, as this only shares your public information (addresses and balances) without exposing your private keys. The real risks come from what happens after connection.
🎯 Learning at the ODFC webinar.
1️⃣ Smart Contract Approvals: If you sign a smart contract that authorizes a dApp to manage your funds, a malicious dApp could drain your wallet.
2️⃣ Deceptive Interfaces: Malicious dApps often mimic legitimate services to trick users.
3️⃣ Approval Exploitation: Some request unlimited token approvals, allowing them to transfer assets without further consent.
4️⃣ Protocol Exploits: Even legitimate dApps can be hacked or exploited, putting connected wallets at risk.
🎯 How to Stay Safe?
- Verify the dApp's authenticity through reviews and community feedback
- Only use dApps that have undergone security audits
- Research the project thoroughly before connecting
- Use a hardware wallet like Ledger for additional security.
- Consider using a separate wallet with limited funds for testing new dApps.
- Connect your wallet only to dApps you 100% trust.
- Always disconnect your wallet after you're done using a dApp.
🎯 What to do, if you connect to a malicious dApp?
If you suspect you've connected to a malicious dApp, take these immediate steps:
1. Revoke Permissions: Use tools like Revoke.cash or Etherscan's Token Approval Checker to revoke any permissions granted to the dApp.
2. Disconnect Your Wallet: Navigate to your wallet's settings or connected dApps section and disconnect from the suspicious dApp.
3. Transfer Funds: Move your assets to a new, secure wallet that hasn't interacted with the malicious dApp.
4. Secure Your Account: Change passwords for your wallet and any linked services
5. Scan for Malware: Run a complete malware scan on your device.
Most of ODFC webinars take place on a rotational basis, date/timing will be allotted to you as per booking. If you need any clarification, we recommend you to chat at the ODFC helpdesk, and attend this webinar as per your convenience.
ODFC Digital Helpdesk
WhatsApp 🪀 8779696580
Email 📨 help@odfcdigital.com
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