Strengthening Security and Protecting User Assets: A Comprehensive Guide for SFT Protocol
According to ChainAegis, a leading blockchain security data analysis platform, there were 211 security incidents in the first quarter of 2023, resulting in an economic loss of 383 million US dollars. These incidents can be broadly categorized into three types: smart contract vulnerabilities, RugPull fraud projects, and hacker attacks. Understanding and avoiding security incidents is crucial for SFT Protocol and every user involved.
In this article, we outline the measures SFT Protocol employs to ensure security and provide recommendations for users to participate safely and securely in the platform.
1. How SFT Protocol Ensures Security🚨
(1) Requirements and Development Stage
SFT Protocol places a strong emphasis on project security factors during the requirements and development stage, continuously striving to optimize and secure its products to achieve high-quality results. The essence of finance lies in risk control, which is applicable to both traditional finance and Web3. A solid product foundation helps avoid systemic risks.
(2) Audit and Release Stage
SFT Protocol conducts rigorous security testing during the functional testing phase to ensure the security of coding standards. During the audit and release stages, multiple parties are invited to perform smart contract audits and cross-checks, which serve to guarantee the system’s security.
(3) Market-oriented Operation Stage
Throughout the market-oriented operation stage, SFT Protocol actively manages its social media accounts and implements bug bounty programs, security monitoring, attack detection, and re-evaluation of system changes to maintain the highest level of security.
(4) Emergency Response
SFT Protocol has established effective emergency response mechanisms to address potential issues. These include the identification of internal and external personnel, emergency response procedures, attack blocking, fund freezing, and fund recovery measures, all designed to respond swiftly and effectively to problems.
2. How to Participate in SFT Protocol Safely🕵️♂️
To ensure the security of user interactions, we recommend that users adopt the following security management practices when engaging with SFT Protocol:
- Wallet Security and Private Key Management: Use a secure wallet and keep private keys confidential. Regularly back up your wallet and avoid storing private keys in unsecured locations, such as email or cloud storage.
- Exchange and Account Password Management: Create strong, unique passwords for each exchange or account. Enable two-factor authentication (2FA) for added security, and update your passwords periodically.
- Network Access Management: Use a secure and trusted internet connection when accessing SFT Protocol, and avoid using public Wi-Fi networks. Keep your router firmware up-to-date and use a virtual private network (VPN) for added security.
- Device Management/Software Management: Regularly update your device’s operating system and software, and use a reputable antivirus program to protect against malware. Be cautious when downloading new applications or software, and only download from trusted sources.
3. Tips for Avoiding RugPull Frauds and Hacker Attacks💞
To minimize risks, users should:
(1) Conduct research and due diligence on projects
(2) Monitor social media and communication channels
(3) Diversify investments across multiple projects
(4) Utilize trusted wallets and exchanges
(5) Remain informed about common scams and attack techniques
4. Commitment to Continuous Improvement and User Feedback✍
SFT Protocol is devoted to enhancing security measures and safeguarding user assets and data. We welcome user feedback and suggestions for improving platform security. Collaboratively, we can create a secure and reliable environment for the SFT Protocol community.
