DeFi hacks and scams stole $2.3B in 2024. These 5 rules keep your crypto safe — without stopping you from using DeFi. Learn them before your first transaction.
Phishing sites copy the exact look of DeFi protocols. Fake "Aave", "Uniswap" sites steal wallets. Always access DeFi via bookmarks you set yourself, never from search results or DM links. Bookmark: app.aave.com, app.uniswap.org, jup.ag. One wrong URL click = empty wallet.
When you use a DeFi protocol, you often grant it "unlimited approval" to spend your tokens. If that protocol is hacked later, your approved tokens can be drained. Use revoke.cash monthly to audit and revoke old token approvals. Only approve what you actively use.
Check if a protocol has been security audited before depositing. Aave: 20+ audits. Uniswap: extensively audited. New protocols with high APY and no audit history: skip them, no matter how tempting. If a yield sounds too good (50%+), it usually is — through hidden risk or outright fraud.
Rule 4: Never trust DMs. Real DeFi teams never DM you about "free tokens", "wallet issues", or "special access." Anyone who DMs you about crypto is trying to scam you — every time. Rule 5: Use a hardware wallet for large holdings. Even if you click a phishing link, a Ledger requires physical confirmation — the hacker still can't drain you.
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