Show notes
NFT security and safety practices in Web3 can be intimidating. And if you happen to become a target of an exploit, it can be overwhelming to determine next steps. In this episode, Brian discusses best practices in mitigating risks in Web3, and reviews the #1 security vulnerability. He also reviews what steps you can take every day to safely participate in the NFT space, and red flags you may come across. He reviews types of wallet compromise, safe NFT storage, social engineering, and how to avoid scams. Without inducing fear, Brian arms us with simple best practices, and reminds us to be kind to ourselves and one another when experiencing a security breach.
Ledger Affiliate code: https://shop.ledger.com/?r=b7659d8d9848
YouTube Videos from the NFT365 Podcast on Web3 Security:
How to Research NFT Founders to Prevent hacks: https://www.youtube.com/watch?v=TNJ5MFbva0Q&t=1s
9 ETH worth of NFTs Were Stolen From My MetaMask Wallet While on Opensea But I Wasn't Hacked
https://www.youtube.com/watch?v=GXWvYC52mfw&t=1s
30 Days Since My Crypto Wallet was Compromised: https://youtu.be/lHBQZ-0e4Ag
Featured NFT from the #MINT365 Collection:
NFT Venues
Twitter: @NftVenues
https://nftvenues.io/
TIME STAMPS
1:00: Review of the featured NFT of the #mint365 collection
2:45: Exploit of premint.xyz
3:45: Behavior around spread of information and doing your own research
5:00: The #1 security vulnerability
6:35: Hard wallet vs cold wallet
7:45: Elaborate schemes exist because there’s so much money at play
8:00: Exploit of AXIE Infinity
9:10: Everyone can be a target, not just the uneducated or those with very few NFTs
10:50: Linked accounts and password use
11:20: How do we eliminate or mitigate a single point of failure?
12:10: Assumptions about safety
12:50: Seed phrase review
13:50: Hacking vs social engineering
15:00: Basic computer vulnerabilities
16:45: You don’t need to be tech savvy to protect yourself in this space
18:50: Digital wallets vs accounts
20:40: Ways you can inadvertently give access (token approval, seed phrase, or transactions)
21:20: Revoking permissions
22:30: Social engineering exploits
24:30: Minting safety practices
26:20: Wallet organization for good safety practices
29:00: What you do if your wallet is exploited depends on if it is a token access or transaction approval you’ve granted
31:00: The amount of crypto in your wallet can affect it’s safety
41:05: Not everyone giving security advice is doing it with pure intentions
44:00: The psychological aspect of being exploited
Discover the latest Web3 strategies to improve your business at the upcoming Crypto Business Conference in San Diego, October 9th-11th 2022
https://www.socialmediaexaminer.com/nft365
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Connect with NFT365 Podcast Host Brian Fanzo 👉https://linktr.ee/isocialfanz
NFT365 is SuperPOWERED by the $ADHD coin 👉 http://adhdcoin.com/
As always: DO YOUR OWN DAMN RESEARCH
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