Policies and best practices for crypto asset management
Many wallets (including smart accounts, multisig ...) have been compromised in the last years. The big capital is at the biggest risk. Most of those attacks could be prevented if the right policies were set in place. Here is a listDedicated Signing Device
Perform transaction signing on a dedicated, single-purpose device, potential in an air-gapped environment. UI can be compromised.Make sure you know what you sign
Reduce Blind Signing. One of the major risks in crypto security is blind signing, where users and platforms approve transactions without clearly seeing what they’re authorizingDecentralize wherever you can
Try to use different tools, do double checks, login from different locations. It's much harder to deceive people that have many decentralized options and prevention tools.Phishing Simulation Campaigns
Conduct routine phishing simulations, especially for high-risk roles like crypto operators and multi-sig signers.Red Team Exercises
Simulate adversary tactics to assess and strengthen security controls against targeted attacks.Transaction Simulation
Before signing, simulate the transaction to observe its outcome and verify its correctness. Require proof of balance from the system before signing transactions.A layered approach to let more isolated and independent systems to perform BEFORE and AFTER checks to ensure that the signing requests, signed messages and transactions meet the compliance and internal security policies.
Use simple tools that don't share any dependencies
Opt for command-line tools (CLI) instead of relying on third-party UI interfaces. CLI tools reduce the risk of UI manipulation and provide a more transparent view of the transaction data.Stop when anything looks suspicious
If any part of the transaction appears unusual or incorrect, immediately halt the process and refrain from signing. Conduct a thorough investigation to identify and resolve any discrepancies.Strict wallet Policies
- Internal wallets can only transfer to internal wallets.
Credits
- Certic
- Forbes