Browsing the Web3 can expose you to several risks such as phishing, malicious smart contracts and scam tokens. To be able to identify and assess the risks of Web3, one should be experienced and study the contracts he/she is interacting with. However, not everyone is able to do so, and that’s why Eidoo has developed the Security Center, let’s dig in!
The Security Center analyzes every smart contract you interact with, checking if it is verified, when it was created, and shows you the contract name and the function name before you interact with it. To access it, simply click on the symbol of the key in the shield in the transaction recap (1).
As a general rule, a verified smart contract is more reliable than one that is not verified; an older smart contract is less risky than a new one. A simple warning from our Security Centre can prevent you from interacting with fraudulent websites that duplicate the site of recognised DApps (slightly changing their URL hoping that you won’t notice) and substitute their smart contracts into malicious ones and with legit official websites that suffer hijack attacks, meaning that a hacker can temporarily control their website and change their smart contracts into malicious ones.
The Security Center also checks the address you are sending tokens, to verify whether it has been involved in previous scams and has been flagged on the block explorer (2).
Important: a positive feedback from the Security Center does not guarantee that an address or a smart contract is completely safe.