Wallet Security Fundamentals
When you buy 114514 Coin on a DEX, you store it in a self-custody wallet like Phantom. This means you are your own bank — security is entirely your responsibility.
Self-Custody Characteristics
| Benefits | Risks |
|---|---|
| No exchange insolvency risk | Lose keys = lose assets |
| No withdrawal limits | Hacks are your problem |
| Privacy protection | Scam recovery is on you |
Three Pillars of Security
- Seed phrase protection: This is everything
- Signature request scrutiny: Don't approve blindly
- Phishing vigilance: Spot fake sites and DMs
Seed Phrase Management
Your seed phrase (recovery phrase) is the "master key" to your wallet. Anyone who knows it can steal all your assets.
NEVER Do These
- Screenshot it: Syncs to cloud, leak risk
- Save in notes app: Malware can read it
- Email it to yourself: Email isn't secure
- Store in cloud: Hacking target
- Tell anyone: Even "support" never asks for it
Recommended Storage
- Write by hand on paper (2+ copies)
- Store in different locations (fire/theft protection)
- Consider fireproof safe or bank safety deposit box
- Metal plate engraving for long-term storage
Any site or DM asking for your seed phrase is 100% a scam. Even official Phantom support will NEVER ask for it.
Signature Request Dangers
Using your wallet involves various "signatures." Some signatures can drain your entire wallet.
Signature Types and Risk Levels
| Signature Type | Purpose | Risk Level |
|---|---|---|
| Connect | Share wallet address | Low |
| Message Sign | Login authentication | Medium |
| Transaction Approval | Send/swap tokens | High |
| Unlimited Approve | Unlimited token spending permission | Critical |
Spotting Malicious Signatures
- Unexpected requests: Appeared without doing anything
- Unreadable/unclear content: Suspicious
- Large token transfers: Always verify amounts
- Unknown contract addresses: Verify it's a legitimate service
Pre-Signature Checklist
- Is this site authentic? (Check URL)
- Do I have a reason for this action?
- Do I understand the signature content?
- Is the amount as expected?
Phishing Attack Prevention
Common Phishing Patterns
| Method | Description | Prevention |
|---|---|---|
| Fake Site | Clone of official site | Always verify URL, use bookmarks |
| Fake DM | Impersonating official account | Never click DM links |
| Fake Ad | Search result ads | Skip ads, go to official directly |
| Fake Airdrop | "You won!" notification | Officials don't DM individuals |
Safe Access Practices
- Bookmark official sites and only access from bookmarks
- Never click search engine ads
- Check URL spelling every time (jup.ag vs jup-ag.com)
- Verify SSL certificate (https)
Recommended Phantom Settings
Basic Settings
- Biometrics: Enable Face ID/Touch ID
- Auto-lock: Set to short interval (1-5 min)
- Transaction confirmation: Require for all transactions
Advanced Settings
- Trusted app management: Remove unnecessary connections
- Simulated transactions: Use transaction simulation feature
- Blind signing rejection: Reject signatures with hidden content
Regular Maintenance
- Weekly: Review and clean up connected sites
- Monthly: Review and revoke token approvals
- Check for suspicious tokens added without your action
Emergency Response Procedures
If You Think You've Been Hacked
- Immediately move remaining assets to a new wallet
- Create new wallet (new seed phrase)
- Revoke all approvals on compromised wallet (Revoke.cash)
- Document damage (screenshots, transaction hashes)
Asset Transfer Priority
- High-value tokens (SOL, USDC, etc.)
- 114514 Coin
- NFTs
- Other tokens
Approval Revocation Tools
- Revoke.cash: List and revoke approved contracts
- Solscan: Transaction history verification
Security is all about prevention. Once compromised, recovery is nearly impossible. Even if it seems tedious, always implement basic security measures.
Safely storing 114514 Coin requires wallet security knowledge. Implement the principles in this guide to protect your assets.
References
3- TreasuryDirect (opens in a new tab) U.S. Treasury