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Ask HN: Verifying a wallet before sending Funds in DeFi

19•SageMind•4h ago
I’ve been experimenting with some DeFi projects lately and am starting to get stressed about the risk around sending funds to the wrong wallet address or a malicious wallet address. With all of the scams happening I am curious about what practical steps people take to verify a wallet before sending funds.

Do you have any tools or methods you use to check the history or good standing of a crypto wallet address? I am hoping to find something lighter than a forensic wallet wrecker that would be reliable to use. Interested to see how others process this.

Comments

curiousObject•4h ago
Use a hardware wallet to protect you from malware on your own devices

Split your money into smaller amounts in separate addresses to protect yourself from a malevolent smart contract that drains all the funds in an address

Check the receiving address in a blockchain explorer. Does its past activity align with the purposes of the receiving address?

Send a smaller transaction first, and wait a a few minutes to see the results, if the fee is small enough to make that acceptable

JaxonRyder121•2h ago
In DeFi, we trust contracts but not addresses. Maybe time to flip that logic.

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