The 1inch Wallet: five layers of security

The 1inch Wallet offers a self-custody approach combined with top-tier layers of security to provide users with one of the safest Web3 experiences.

The 1inch Wallet stands out as one of the safest Web3 applications for interacting and storing crypto assets. At the core of the 1inch Wallet's security lies the principle of self-custody enabling users to control their private keys and funds. This DeFi-specific approach removes the need for third-party involvement, decreasing the likelihood of funds being vulnerable due to external security threats.

However, the 1inch Wallet extends the DeFi standard by giving users a boost in confidence throughout their Web3 journey by offering five robust levels of security.

# 1 Scam protection: shielding against nefarious activity

The Scam protection feature safeguards users against malicious dApps, transactions, addresses and tokens. It acts as a safety net, automatically analyzing each dApp interaction and transactions for user's safety.

Whether employing the Web3 browser or WalletConnect for accessing dApps and transacting, users receive alerts before any scams happen. The real-time analysis identifies potential risks, from interactions with known malicious domains to unfair token exchanges. 

Every transaction, including complex multi-transactions, is simulated and validated to determine whether it is malicious or benign, with the results clearly displayed on the screen. If the transaction is safe and poses no threats, users can proceed with signing.

Hence, users are protected from a wide array of threats, including unauthorized approval requests and attempts to steal recovery phrases.

#2 No blind signing: transparency in every transaction

Authorizing a transaction without understanding the full details poses a significant security risk. However, blind signing, a common vulnerability in wallets, is eliminated in the 1inch Wallet thanks to the transaction decoder. Users can see transaction details on the confirmation screen in human-readable language rather than as an incomprehensible hash. This feature is also integrated into the Activity section showcasing the transaction history and allowing users to know exactly what they have signed. This transparency ensures users know exactly what they're authorizing, reducing the risk of unintended actions.

#3 Thorough auditing: a commitment to reliability

The 1inch Wallet undergoes regular audits by industry leaders like HackerOne and Blue Frost Security. Blue Frost Security, known for identifying vulnerabilities in major tech products, like   Microsoft, Huawei and Samsung, performs thorough checks on the 1inch Wallet's data storage, forensic controls, user authentication and authorization mechanisms.

Smart contract audits, conducted with advanced analytical tools, further ensure the security of transactions. These audits not only verify the safety of the code but also simulate real attacks to identify potential vulnerabilities. Any weaknesses found are re-audited after they are addressed, guaranteeing that the wallet's security is always up to date.

#4 Secure key management: enhanced data protection

The 1inch Wallet offers side encryption for both iOS and Android users, keeping sensitive data protected. The main benefit of using this advanced security measure is that users don't have to directly interact with public keys.This reduces the risk of unauthorized access to their crypto assets, even on compromised devices.

#5 Backups and snapshots: safeguarding key data and activities

Backing up wallet data ensures that users can recover their assets in case of device failure, theft or other unforeseen events. Even if the recovery phrase or private key, which can't be restored, are lost, backups guarantee the ability to regain access to funds.

The 1inch Wallet provides secure backup with file or cloud storage options - Google Drive for Android and the Cloud snapshot feature for iOS. Even if backup accounts are compromised, accessing saved data requires the password. This extra layer of protection ensures that funds remain safe, even in the event of a data breach.

The Cloud Snapshot feature on iOS allows for regular saving of wallet state snapshots, maintaining an up-to-date backup of transaction history, balances, settings and overall wallet state.

Stay safe and protected with the 1inch Wallet, your trusted Web3 companion!