Experience wallet security tool Shield3: "360" in the Web3 world

The Web3 industry has always been the hardest-hit area for hacker attacks. Attack methods emerge in endlessly, and users are hard to guard against. Excluding the project party’s evil or smart contract loopholes, most of the attacks are aimed at personal wallets, such as deceiving users to authorize false transactions through phishing links, leaking private keys or other sensitive information, resulting in the loss of personal assets. It can be seen that the protection of Web3 wallet is very important.

The protection of Web3 wallets requires not only the enhancement of personal risk awareness, but also the cooperation of professional security tools. Odaily Planet Daily has recently paid attention to the Web3 wallet security tool Shield 3, which protects the user's wallet security in a way similar to 360 security guards. After trying out this tool, we found that Shield 3 not only prompts potential risks in real time when operating on the chain, but also displays different types of risk events on the panel page. Although at the product level, Shield 3 still needs to be optimized (for example, adding a filtering layer to the network is not insensitive enough), but it still plays a positive role in early warning and protection for friends who often interact (or pluck hair).

Basic functions and usage process of Shield 3

Shield 3 is now in beta version, supporting Ethereum mainnet, Polygon mainnet and its testnet.

Users can choose three levels of free, paid or customized services, corresponding to different security service authority levels. The following experiences are all free services.

**In a nutshell, Shield 3 regularly scans and monitors DAPPs connected to wallets for potential risks (such as fraud and vulnerabilities), and provides an overall security score for on-chain interactions. When a potential threat is identified, users receive an alert, explanation, and recommended action. **

First, the user needs to fill in the email address, check the API KEY, link the wallet, and add a network connection to Shield 3. The details are as follows:

Expand and introduce the account association method of Shield 3: as a light node, it uses RPC (remote call method) to monitor the security of wallet transactions, interactions and other behaviors, which is equivalent to adding an additional filtering layer between the monitored network and the wallet , to ensure transaction security.

However, the operation mode of adding an additional network brings a relatively bad experience to users for the first trial (adding the network itself also corresponds to certain risks, such as whether the filtering layer will be attacked by hackers, and whether the project party is transparent enough when operating the filtering layer believable).

The above picture is the dashboard after linking the account. Through the dashboard, you can see the current amount of funds for Shield 3 services and the monitored hacker addresses or attack methods. At the same time, the system will record the chain activities of the wallet, etc.

The picture above shows the usage of Shield 3 in the wallet after authorization. From the graph, the risk summary, the statistical rating of the number of authorized transactions and the amount can be obtained, and the previous transaction objects can also be traced.

According to the picture above, you can understand the current use process of Shield 3. Shield 3 provides security services from multiple aspects of the wallet (search, contract, monitoring, analysis, reporting, research).

On the Command Center page, Shield 3 also monitors and displays the recent activities of hackers on the chain, reflecting its strong real-time reconnaissance capabilities.

After experiencing it, we found that the user experience of Shield 3 is relatively cumbersome. It is necessary to open the Shield 3 website and associate an account every time before the actual operation on the chain, in order to use the security service of Shield 3. This is because the RPC method used by Shield 3 needs to frequently update the remote call permission to ensure the stability and security of the wallet address. But apart from experience, this product at least serves as a risk warning for us when we are trying new protocols or high-frequency operations.