As the crypto ecosystem grows, so do the risks. Hot wallets and standard hardware wallets form the foundational layer of the crypto economy. But as that economy grows, those wallets come under increasing scrutiny.
Notable vulnerabilities – including seed phrase storage and hot wallet hacks through malicious sites – have led some users to look for a newer, better alternative.
Hot wallets (software-based, internet-connected, ‘always-on’) are frequently targeted by phishing scams, malware, and user mistakes. User error is the primary vector of course; forgotten passwords or misplaced seed phrases can lead to irreparable losses.
Phishing scams rely on social engineering to get around any security, and the very fact that hot wallets are known to be vulnerable can make the scheme more effective.
At the end of the day, one of the most common crypto mistakes is keeping crypto in online wallets. Always on means always vulnerable and significantly raises the risk of hacking, not to mention issues like incorrect wallet addresses or falling for scams.
Recent attacks demonstrate how adaptable and creative scammers have become. For instance:
Scam tactics have grown both in volume and severity.
The ‘pig-butchering’ scam, where victims are lured through romance/fake investment schemes, accounted for an estimated $12.4B in crypto fraud in 2024. Pig-butchering alone constituted 33.2%, with high-yield investment program scams responsible for another 50.2%.
Broader data shows that $51B flowed into illicit crypto wallets in 2024, with hackers stealing $2.2B, laundering $40B, and scam addresses extracting $12B.
Prevention is better than a cure after the fact – particularly when traditional policing increasingly struggles to keep pace.
Though enforcement is improving, with over $300M in crypto linked to scams frozen in a global crackdown, asset recovery remains complex and uncertain.
The sad reality is that most of the current crypto wallets leave too much to chance, with too little protection available for users.
D’CENT’s new Real‑Time Scam Detection, powered by Blockaid, provides real‑time warnings against phishing, scam contracts, fake dApps, and suspicious tokens.
Specific safety measures include:
dApp reputation scans validate incoming dApp connections for abnormal activity, while token risk analysis triggers behavioral checks for honeypot logic or exploit history when adding new tokens.
It’s all part of an always-on, transparent protection that transforms D’CENT from mere crypto storage into a proactive security hub.
In a time when crypto theft and scams continue rising sharply, from billion-dollar hacks to emotionally manipulative romance frauds, D’CENT Wallet pioneers a new category of crypto tool.
With the Portfolio Snapshot offering clarity and Real-Time Scam Detection offering lifeline-level security, D’CENT actively preserves your digital wealth.
Do your own research, as always. This isn’t financial advice.
