Common DApp risks and how to avoid them

  1. Poorly designed DApp

DApps are built using smart contracts, which consists of code - and code sometimes has bugs. The most reputable DApps have been thoroughly audited by third-party security firms, but many DApps have not been audited. This means there's a chance the DApp you're connecting to may contain a weakness that could be exploited by hackers - with the result that the funds you send to the DApp could be lost or stolen.

  1. Malicious DApp

The risk here is the same as with a poorly designed DApp. The only difference is, with a malicious DApp, the code has been purposely compromised, usually in such a way that the DApp makers can steal funds.

The best way to avoid losing your funds to poorly designed and/or malicious DApps is to take the time to investigate the DApp maker and ensure that the DApp's code has been audited by a reputable third-party service.

  1. Phishing DApp

Let's say you fully trust the 'ABC Finance' DApp. It has a solid team of developers behind it, and the smart contracts it is compromised of have been audited by two reputable third-party security firms. When you search for ABC Finance's website, imagine you accidentally click on a link that takes you to ABDfinance.com. This website looks identical to the ABC Finance website you're used to, but when you connect your wallet, you're unknowingly connecting to a malicious DApp. Any funds you send to the DApp, rather than earning you passive interest as you intended, are instead stolen by the 'phishing' DApp's creators.

The best way to avoid getting caught by a phishing DApp is to double check the URL of the DApp's webpage to ensure it is correct. Another tip is to check that the lock icon (🔒 ) appears in your browser's address bar preceding the website's URL.

Read more: What is WalletConnect? Learn about the bridge that connects your wallet to DApps and how to use it.

¿Te ha servido de ayuda??

Guías relacionadas

Empezar desde aqui →
What is WalletConnect?

Learn about the bridge that connects your wallet to DApps and how to use it.

Lee este artículo →
What's a DApp?

Understand the basics of decentralized applications on Ethereum; their features and their limitations.

Lee este artículo →
What's a smart contract?

Get the basics on the "software" that runs on the Ethereum shared computer.

Lee este artículo →
What's decentralized finance?

Learn what makes decentralized finance (DeFi) apps work and how they compare to traditional financial products.

Lee este artículo →
What is ETH used for?

Understand the function and utility of ETH.

Lee este artículo →
How to buy ETH

Learn how to buy ETH and hold it securely in a digital wallet you control.

Lee este artículo →
What is Ethereum?

Understand Ethereum's key characteristics.

Lee este artículo →
What are ERC-20 tokens?

Learn the basics of the Ethereum token standard, what ERC-20 tokens are used for, and how they work.

Lee este artículo →
How to create an Ethereum wallet

Creating an Ethereum wallet is as easy as installing software on your mobile device or laptop/desktop.

Lee este artículo →
Empezar desde aqui →
Comienza a invertir de forma segura a través del monedero de Bitcoin.com
Más de 20 millones de carteras creadas

Todo lo que necesitas para comprar, vender, operar e invertir en bitcóin y otras criptomonedas de forma segura

Bitcoin.com en tu bandeja de entrada

Un resumen semanal de las noticias importantes, además de recursos educativos y actualizaciones de productos y servicios que promueven la libertad económica