Your Crypto Safety Starts with Two Simple Checks

The team behind SAFE - a multisig solution for Web3 that was notably used by the Bybit exchange - has published a guide on their website that starts with one crucial rule: "If you can’t verify it, don’t sign it." This comes in the wake of a recent hack where a significant amount of cryptocurrency was stolen from Bybit.

This is indeed a fundamental rule in the world of cryptocurrency. In crypto, you should always double-check what you’re signing. In a traditional store, if you tap your card without checking the amount on the terminal and $1,000 is charged instead of $1, you can usually dispute the transaction and, in most cases, get your money back. But with crypto, it’s a different story. Once you sign without checking, that’s it—there’s no going back.

That’s why I fully agree with SAFE: if you don’t fully understand what you’re signing, it’s better to hold off. If you’re unsure, take the time to Google it, read the documentation, or consult AI tools. Yes, it takes time. But it’s better to be slow and safe than to lose everything in an instant. It’s surprising that Bybit didn’t seem to know this.

When it comes to exchanges on rabbit.io, this principle boils down to two simple checks:

1. When creating an exchange request, make sure the address you’ve entered to receive the crypto is indeed yours. Verify that it matches exactly what you see in your wallet.
2. When sending crypto for the exchange, ensure the address you’re sending to matches exactly the one we’ve provided.

That’s it. On rabbit.io, there’s no wallet connection or signing of unclear authorizations. You just need to verify two addresses.

Don’t be like Bybit! Take care of your crypto security!