Phishing scams
Phishing is a classic example of social engineering. It involves fraudsters impersonating legitimate businesses, organizations or individuals with the goal of obtaining sensitive information such as passwords, credit card numbers, personal contact details, or in the case of cryptocurrency scamsprivate keys / recovery phrases. Often, phishing scams will create websites that almost perfectly resemble the website of the business or organization theyre impersonating.
Malicious smart contracts
With the rise of decentralized finance (DeFi), a growing number of crypto holders is now actually using their coins in decentralized applications, instead of just holding them passively. While this is a great step forward for the adoption of crypto, it also comes with its own pitfalls. DeFi protocols can be highly complex, and most users do not have the knowledge or time to fully understand their intricacies.
Tools like Web3 Antivirus can help you detect phishing and malicious smart contracts
The Web3 Antivirus extension will warn you whenever youre trying to access a website that has been flagged as a phishing website. The extension has access to thousands of databases of malicious websites, which significantly improves the chances that it will be able to protect you.
Another way that Web3 Antivirus protects crypto users is to analyze the transactions you are about to sign with your crypto wallet.
The extension has access to an EVM (Ethereum Virtual Machine) environment where the transaction is executed in a sandboxed environment, allowing the extension to show you exactly what the results of approving the transaction would be. This gives you very valuable information when deciding whether to approve a transaction or not. The extension also provides a report that assigns a risk score to the transaction thats pending for approval.
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