The algorithm torrents keep flowing, and safety accidents are like the sword of Damocles hanging overhead. They have never happened "if" but "when". Recently, CEX and DeFi have been frequently hacked, with asset losses, contract vulnerabilities, and Trojan viruses covering the market, making the word "security" the focus again. There has never been absolutely security in the crypto world, only ever-evolving security strategies. When the traditional finance "big but not overturned" rule fails in the Web3 world, the industry faces unprecedented questions: Who should we entrust our assets to security?

OKX clearly recognizes that there are security risks in the crypto industry, but we focus on solutions rather than fear - fear will not solve problems, technological innovation is the answer . We care about the security of all crypto users. No matter where everyone trades, we always advocate higher security standards, and through technological innovations such as self-custodial wallets and PORs, users can truly have their own asset sovereignty. This is not marketing, but an inevitable direction for the development of the industry.

We believe that the future of Web3 is not based on a trust-centralized platform. Instead, it is built on code, transparency and user sovereignty. True security is not about relying on a certain platform, but is controlled by the users themselves. Therefore, the self-custodial wallet we advocate is not only a product concept, but also a transformation of the industry paradigm, which represents the return of detrust, transparency and personal sovereignty. OKX is committed to promoting higher safety standards, providing more transparent and trustworthy solutions not only for itself, but also for the entire industry.

We hope to help users understand the concept of self-hosted wallets, further strengthen OKX's commitment to encryption and security, help users make informed decisions, and improve security consciousness. OKX firmly believes that the industry must continue to evolve to protect the safety of user assets, and we support stricter security standards to ensure the long-term development of the entire industry.

The existence of "platform security" in the traditional paradigm and "autonomous security" in the Web3 era Essential differences. "Not your key, Not your money", a self-custodial wallet gives users absolute control over crypto assets, and realizes decentralized management through unique private keys. Users can complete asset storage, transactions and other operations without relying on third-party institutions, and trulyAs the manager of personal digital assets. This security mechanism based on mathematical proof completely breaks out of the traditional security framework that relies on human operation and maintenance. It not only protects the integrity of asset ownership and privacy rights, but also avoids the redemption risks caused by centralized platforms due to operating crises. However, absolute control is accompanied by full responsibility, and users must independently bear security obligations such as custody of mnemonics.

In terms of account generation and private key backup, OKX Web3 wallet is the only one At the same time, it creates multiple sets of mnemonic wallets and a set of mnemonic wallets that derive multiple accounts, which improves users' flexibility and security in asset management and effectively reduces the risk of private key leakage. In addition, the OKX Web3 wallet reconstructs the backup process, and users only need to log in to their iCloud/Google account and set an encryption password to complete off-chain backup. This solution breaks through traditional hardware dependencies, and can quickly restore assets through cloud verification encrypted backups even if the device is lost or the mnemonic is forgotten. Triple protection system: cloud storage + password verification + local encryption, while lowering the operating threshold, it builds an insurance mechanism that can resist single-point failure for crypto assets.

At the same time, OKX Web3 wallet provides powerful private key protection functions, such as prohibiting users from taking screenshots or recording private keys and mnemonics to prevent information Give way. To further improve security, private key segmented copying and other functions are also supported to ensure that every link is protected. Through these protection measures, the user's private keys and mnemonics are always under strict security guarantees, reducing potential security risks.

According to Slow Fog Technology's public audit, all private keys and mnemonics of OKX Web3 wallet users are stored only in the user's local device and will not be uploaded to Any external server. In addition, the OKX Web3 wallet-related SDK is also open source, and has been widely verified and continuously reviewed by the global developer technology community, making it more open and transparent. OKX Web3 wallet private key security module complies with financial-grade security standards, ensuring that mnemonics are stored offline throughout the entire process and never touch the Internet.

In response to the "unlimited authorization" risks that are common in the DeFi ecosystem, the OKX Web3 wallet has built-in smart contract permission management function, supports custom authorization limits and one-click to remove risk authorization , always maintain risk monitoring, 30-day DApp risk warning, regular pop-up windows to prompt risks and other highlights, further eliminate the risk of asset exposure caused by excessive authorization and create a "minimum permission" security paradigm.

For example, many users have authorized various contracts but have not interacted for a long time due to lack of contractsThe lack of project maintenance may become the target of hackers. OKX Web3 wallet records the contracts authorized by the user through the on-chain search function and tracks and manages the risk-free contracts therein. For contracts that have not been interacted for a long time, the system will automatically detect them and promptly send reminders to users after risks are discovered. Every 30 days, the system will give a reminder to users who have not cancelled their long-term uninteractive contract authorization. It is recommended that users regularly manage wallet contract authorization and promptly cancel contracts that are no longer used to reduce potential risks. For example, the OKX contract monitoring engine provides 7*24-hour security protection, scans the user-authorized contract in real time, and prompts the user to cancel the authorization after discovering risks; if it is not cancelled within 24 hours, the system will pop up again to remind you.

For on-chain interaction risks, OKX Web3 wallet provides powerful risk transaction identification functions, such as integrating Tianyan KYT system to build an active defense network, and real-time scanning of risk address tag library . In key links such as DApp interaction and asset transfer, machine learning dynamically identify malicious contracts, phishing addresses and other threats, and achieve millisecond-level risk blocking before transactions. This protection system deeply integrates user autonomy and professional risk control capabilities, so that self-hosted wallets can achieve security protection capabilities beyond the centralized platform while maintaining their decentralized characteristics.

The future appearance of the industry is unknown, but self-custodial wallets are undoubtedly one of the deterministic paths - becoming the "Noah's Ark" for the security of user assets.

Disclaimer

This content is for reference only and does not constitute or should not be regarded as (i) investment advice or recommendation, (ii) offer or solicitation for the purchase, sale or holding of digital assets, or (iii) financial, accounting, legal or tax advice. We do not guarantee the accuracy, completeness or usefulness of such information. Digital assets (including stablecoins and NFTs) are affected by market volatility, involve high risks, can depreciate, and even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you based on your financial situation and risk tolerance. For your specific situation, please consult your legal/tax/investment professional. Not all products are available in all regions. For more details, see OKX Terms of Service and Risk Disclosure & Disclaimer. OKX Web3 Mobile Wallet and its derivative services are subject to separate Terms of Service. Please be responsible for understanding and abide by relevant local applicable laws and regulations.