Securing Blockchain Assets
Simon Wilson - Principal Consultant Decentralize
www.decentralize.global
A Crypto-system should be
secure, even if the attacker
knows all the details about the
system, with the exception of
the secret key!
Kerckhoff’s Principle (1883)
Attack classifications!
Crypto-analysis
Classical
Crypto-analysis
Social
Engineering
Implementation
Attacks
Defending from
Attack!
Tip 1 - Key management starts with controlling your keys!
Tip 2 - If you must keep liquid funds on an exchange or
software wallet enable 2-factor Authentication
Tip 3 - Research your wallet solution. Use one that provides
the support you need but don’t compromise security!
1 - Ensure your devices
are password and virus
protected.
2 - Research your software wallet solution.
Select only those with 2FA or tight security
standards.
Tip 4 - Use a Hardware Wallet or Cold Storage for a proportion
of your holdings! Remember to diversify!
1 - Keep cold
storage devices
offline in a safe.
2 - Hardware wallets or
printed offline wallets
are best for holdings
that won’t be moving.
3 - Seed words are a
recovery solution. Keep
them in a separate
location.
Tip 5 - Tier your holdings solution!
Tier 3
Offline
Tier 2
Warm
Wallet
Tier 1
Liquid
Exchange
Be Weary of Social
Engineering Attacks!
Tip 1 - Never ever ever reveal your private key on Bloomberg!
Tip 2 - Don’t fall for online scams! Research, check, double
check, and triple check before sending crypto anywhere!
Tip 3 - Have a plan for your holdings if you Die!
https://medium.com/@pamelawjd/letter-to-loved-ones-a-template
-for-your-crypto-estate-planning-4ee0975434e4
Implementation
Attacks!
Tip 1 - If investing in ICO’s or an Altcoin of any type ensure
smart contracts and code has been security reviewed!
Three Takeaways!
1. Control your private Keys!
2. Tier your holdings!
3. Be paranoid and diligent as there’s no longer
a Nanny to catch you if you fall!
Further reading!
● Glacier Protocol - https://glacierprotocol.org/
● Paper Wallets - https://www.coindesk.com/information/paper-wallet-tutorial/
● ICO Fails - https://www.coinist.io/6-worst-icos-of-all-time/
● Bitcoin Fails - https://www.coindesk.com/9-biggest-screwups-bitcoin-history/

Securing blockchain assets

  • 1.
    Securing Blockchain Assets SimonWilson - Principal Consultant Decentralize www.decentralize.global
  • 2.
    A Crypto-system shouldbe secure, even if the attacker knows all the details about the system, with the exception of the secret key! Kerckhoff’s Principle (1883)
  • 4.
  • 5.
  • 6.
    Tip 1 -Key management starts with controlling your keys!
  • 7.
    Tip 2 -If you must keep liquid funds on an exchange or software wallet enable 2-factor Authentication
  • 8.
    Tip 3 -Research your wallet solution. Use one that provides the support you need but don’t compromise security! 1 - Ensure your devices are password and virus protected. 2 - Research your software wallet solution. Select only those with 2FA or tight security standards.
  • 9.
    Tip 4 -Use a Hardware Wallet or Cold Storage for a proportion of your holdings! Remember to diversify! 1 - Keep cold storage devices offline in a safe. 2 - Hardware wallets or printed offline wallets are best for holdings that won’t be moving. 3 - Seed words are a recovery solution. Keep them in a separate location.
  • 10.
    Tip 5 -Tier your holdings solution! Tier 3 Offline Tier 2 Warm Wallet Tier 1 Liquid Exchange
  • 11.
    Be Weary ofSocial Engineering Attacks!
  • 12.
    Tip 1 -Never ever ever reveal your private key on Bloomberg!
  • 13.
    Tip 2 -Don’t fall for online scams! Research, check, double check, and triple check before sending crypto anywhere!
  • 14.
    Tip 3 -Have a plan for your holdings if you Die! https://medium.com/@pamelawjd/letter-to-loved-ones-a-template -for-your-crypto-estate-planning-4ee0975434e4
  • 15.
  • 16.
    Tip 1 -If investing in ICO’s or an Altcoin of any type ensure smart contracts and code has been security reviewed!
  • 17.
    Three Takeaways! 1. Controlyour private Keys! 2. Tier your holdings! 3. Be paranoid and diligent as there’s no longer a Nanny to catch you if you fall!
  • 18.
    Further reading! ● GlacierProtocol - https://glacierprotocol.org/ ● Paper Wallets - https://www.coindesk.com/information/paper-wallet-tutorial/ ● ICO Fails - https://www.coinist.io/6-worst-icos-of-all-time/ ● Bitcoin Fails - https://www.coindesk.com/9-biggest-screwups-bitcoin-history/