The crypto industry loses billions to thefts, scams, and user errors every year. Unlike traditional banking, there's no fraud protection, no chargebacks, and no customer support that can recover your funds. Security is everything.
Seed Phrase Security: Non-Negotiable Rules
- Write your 12/24-word seed phrase on paper — never digitally
- Store multiple copies in different physical locations (home, safety deposit box)
- Consider a fireproof/waterproof metal seed phrase backup
- Tell a trusted person where to find it (for inheritance planning)
- NEVER: cloud storage, email, text message, notes app, photo
Hardware Wallets: Worth Every Rupee
If you hold more than ₹10,000 in crypto, a hardware wallet is non-negotiable. Ledger Nano S Plus (~₹8,000) and Trezor Model T (~₹12,000) keep your private keys offline — immune to all software-based attacks. Your INRC, MATIC, and other tokens remain safe even if your computer is completely compromised.
Phishing: The #1 Threat
Crypto phishing attacks create fake websites that look identical to Uniswap, MetaMask, or PolygonScan. You enter your seed phrase "to verify" your wallet — and lose everything. Defense:
- Bookmark all official DeFi URLs — never Google them
- MetaMask will NEVER ask for your seed phrase in-browser
- Check the URL character by character — uniswap0.org is NOT uniswap.org
- Use a browser with built-in phishing protection (Brave)
Smart Contract Risk: Unlimited Approvals
When you approve a DeFi protocol to spend your tokens, you may be granting unlimited approval. If that protocol is later exploited, attackers can drain your wallet. Use revoke.cash to audit and revoke unnecessary token approvals regularly.
Scam Recognition
The golden rules of crypto scam detection: If it sounds too good to be true, it is. No one is giving away free INRC. There is no "INRC support team" that will DM you. Never send crypto to "verify" your wallet. Never share your seed phrase — for any reason, with anyone.