Wallets & Security
In crypto, holding your own keys means holding your own security. These terms cover the wallet categories (hot vs cold, custodial vs self-custody), the cryptographic pieces (seed phrases, multisig), and the attack patterns (phishing kits, rug pulls, drainers) that target everyone from first-time buyers to protocol treasurers.
Address PoisoningAddress poisoning is a crypto scam where the attacker sends a tiny "dust" transaction from a wallet address that visually matches one of your recent counterp…Approval DrainerAn approval drainer is a malicious smart contract that waits for a user to grant it token allowances, then sweeps those tokens into an attacker-controlled wa…Cold StorageCold storage is crypto custody where keys never touch an internet-connected device.Custodial WalletA custodial wallet is one where a third party — usually an exchange or a fintech — holds the private keys on behalf of the user.Exit ScamAn exit scam is a crypto fraud pattern where the team behind a project — a token, an exchange, a yield platform, or a fund — collects user funds over weeks o…Hardware WalletA hardware wallet is a dedicated physical device that stores crypto private keys and signs transactions in an isolated environment.Hot WalletA hot wallet is a crypto wallet whose keys are stored on an internet-connected device — typically a phone, a computer, or a browser extension.Mnemonic"Mnemonic" is the technical term for what most users call a seed phrase — the 12 or 24 words that deterministically generate a wallet's private keys.MultisigA multisig wallet requires multiple signers to authorize a transaction.PhishingPhishing in crypto is an attack where someone tricks you into revealing your seed phrase or signing a malicious transaction.Pig ButcheringPig butchering (from Mandarin "shā zhū pán", 杀猪盘) is a long-form investment scam that pairs a romance or friendship con with a fake crypto trading platform.Private KeyA private key is the cryptographic secret that authorizes transactions from a specific blockchain address.Rug PullA rug pull is a crypto scam where the token's deployer drains the liquidity pool and disappears, leaving holders with a worthless token.Seed PhraseA seed phrase is a 12 or 24-word sequence that deterministically generates every private key in a wallet.Self CustodySelf-custody means holding your own private keys and bearing full responsibility for their security.ShillIn crypto, to shill a token is to promote it aggressively — usually without disclosing that you hold a position or have been paid.WalletA crypto wallet is a tool that stores private keys and signs transactions on behalf of a user.