How dangerous is this

[Outhue]

I am trying to connect my wallet to a dex called position.exchange and I get a warning via my Trust wallet🤦, the warning tip is below



I visited the website through coinmarketcap just to be sure I got the right link and this is project token has over 2million dollars in daily volume, I don't know why the warning is up...

The funny thing is I have used the platform before and things went smoothly, I never got this same warning at the time, I think it's just a month ago.

[noorman0]

I think Trustwallet works closely with the contract security auditing companies AvengerDAO and Hashdit. You can find out the malicious level of the contract address you want to link to from the announcement history of these two companies.

The funny thing is I have used the platform before and things went smoothly, I never got this same warning at the time, I think it's just a month ago.

If you believe that these 2 audit firms are credible enough, then heed the warning. If you are more confident it will be fine as before, then go ahead. Just think if some things have changed since your usage last month and a vulnerability was detected minutes before this warning.

[Yogee]

...The funny thing is I have used the platform before and things went smoothly, I never got this same warning at the time, I think it's just a month ago.

That's probably because the platform wasn't reviewed or reported when you used it. It's also possible that there's an issue with this AvengerDao platform and has been issuing false or misleading warnings. It seems they flagged a lot of other projects but I cannot see any published report.

You're still free to use it if you insist. Certik trust score on this platform is "Good" but it should also be noted that there was no resolution to all the 8 findings of Certik https://www.certik.com/projects/positionexchange

[swogerino]

I am trying to connect my wallet to a dex called position.exchange and I get a warning via my Trust wallet🤦, the warning tip is below



I visited the website through coinmarketcap just to be sure I got the right link and this is project token has over 2million dollars in daily volume, I don't know why the warning is up...

The funny thing is I have used the platform before and things went smoothly, I never got this same warning at the time, I think it's just a month ago.

From how you describe it it looks like it is dangerous,however in order to be sure I think that you can try to connect a ready made Trust wallet in a virtual machine,highly recommend running Linux so if there is a malware it won't do that big of a damage but even if it does,you are in a virtual machine with a just made Trust wallet so you have no funds there so you can go ahead and test such website this way.

This is my personal approach to any website like those when I get warnings from my browsers or wallets like Trust although I use Metamask and I don't think Metamask warns you,but whenever a site asks me to connect my wallet I go and test in a sandbox,virtual machine readily made for such purposes.Most programs of virtualization use Snapshots so if anything bad happens you can go back to a good state of the VM with just one click.

[vv181]

Is the snipped address the DEX smart contract address or your address? Are you interacting with another token smart contract in any cases before that warning popped out?

Based on CoinMarketCap and the DEX site, the DEX smart contract is 0x5CA42204cDaa70d5c773946e69dE942b85CA6706, surely a different one compared with the screenshot. Disregarding the warning is not recommended in any way, even if you already have interacted previously.

I have tried to connect to the site with my test device. All things are fine. I'm able to connect successfully without any warning.

[Jawhead999]

@vv181 is right, position.exchange contract address start with 0x5CA not 0xdef, I don't have any idea why the exchange generate different address.

Based on this tweet [1] trustwallet is falsely accused a project and they're trying to get rid off from this misleading banner. However based on the official Trustwallet's announcement, if you're in doubt you can reach their support team [2].

[1] https://mobile.twitter.com/CTRCryptoRadio/status/1607748922411474945
[2] https://community.trustwallet.com/t/a-complete-overview-of-trust-wallet-security/628739

[Jackl87]

I am trying to connect my wallet to a dex called position.exchange and I get a warning via my Trust wallet🤦, the warning tip is below
I visited the website through coinmarketcap just to be sure I got the right link and this is project token has over 2million dollars in daily volume, I don't know why the warning is up...
The funny thing is I have used the platform before and things went smoothly, I never got this same warning at the time, I think it's just a month ago.

I don't really know about position.exchange so i can tell you if this exchange is safe or not, but you already said, that you have used it before already and everything worked great so far.
I know though that this warning also comes if you want to interact with the site drip.community and this site is used by a lot of people since a year or so now and there also never was an issue there. The thing with drip.community is, that it is a contract that pays you 1% of your deposit every day, so of course this is a very risky investment, maybe that is why the warning is shown.
So yeah, just because Trustwallet does show this warning does not automatically mean, that there really is something wrong with the site you want to connect to.

[BlackBoss_]

Use different wallets for different purposes. By separating your fund into different wallets, you reduce risk to lose it all with only one blackswan event like Luke Dash Jr. got.

It is important to use a wallet with very tiny fund to explore new platforms.

Relying on a wallet software to warn you about risk is not good. They can be late to detect hazardous elements or their warning can be false.

After exploring them, make sure you revoke smart contract access.
https://app.unrekt.net/

It is always safer to limit your curiosity. Exploring too many platforms is not good but risky and limit applications you install on your devices.
Luke installed Gento

[Bananington]

I don't know why the warning is up...

The funny thing is I have used the platform before and things went smoothly, I never got this same warning at the time, I think it's just a month ago.

There is most likely something they know that you do not know. You have used it before, does not mean that you can always trust them. You have no idea what may have transpired in the company from the time you used them last to the present date. The security warning also could also be an updated feature that Trust wallet has introduced, so it always be that they warned you if anything should happen, Just like the function of a disclaimer. Anyhow, just be sure to read it properly and be extra sure of what you are doing.

[cryptoaddictchie]

If theres a prompt like that then its a cautious already.

I think Trustwallet works closely with the contract security auditing companies AvengerDAO and Hashdit. You can find out the malicious level of the contract address you want to link to from the announcement history of these two companies.

So this warning sign from Trustwallet is legit? I just know that there are like these already on trust. A bit impressive if they can advise users or warn about impending connection to a malicious site. Users might be think twice before connecting their accounts.

[noorman0]

So this warning sign from Trustwallet is legit? I just know that there are like these already on trust. A bit impressive if they can advise users or warn about impending connection to a malicious site. Users might be think twice before connecting their accounts.

At least that's what I understand if you relate it to the Binance (parent company) article that introduced this firm, I think trustwallet has been implementing it since last September.

Actually, this feature is quite helpful for users with low ability to verify smart contract codes.

[AakZaki]

My advice is that it's better to ask directly in the official Dex telegram group or on active social media. you only need to provide the screenshot and ask for the right solution. Maybe the dex is under development or there are some bugs. If it's risky, you better not connect it first. remember that the security of your wallet will be more important. If it turns out that there are some bugs and it becomes a hacking hole, your assets will also be lost and of course, you don't want that to happen.

[AmoreJaz]

I think Trustwallet works closely with the contract security auditing companies AvengerDAO and Hashdit. You can find out the malicious level of the contract address you want to link to from the announcement history of these two companies.

The funny thing is I have used the platform before and things went smoothly, I never got this same warning at the time, I think it's just a month ago.

If you believe that these 2 audit firms are credible enough, then heed the warning. If you are more confident it will be fine as before, then go ahead. Just think if some things have changed since your usage last month and a vulnerability was detected minutes before this warning.

it really depends on the OP if he will still use the platform despite of the warning. the risk is on him so if in case something goes wrong once he uses it, then, that's on him. it is a warning, so it is up to you if you will be cautious or will just proceed at your own risk. for me, i better look for other DEX, which is more popular and solid.

[JavasetvenQ]

I think Trustwallet works closely with the contract security auditing companies AvengerDAO and Hashdit. You can find out the malicious level of the contract address you want to link to from the announcement history of these two companies.

The funny thing is I have used the platform before and things went smoothly, I never got this same warning at the time, I think it's just a month ago.

If you believe that these 2 audit firms are credible enough, then heed the warning. If you are more confident it will be fine as before, then go ahead. Just think if some things have changed since your usage last month and a vulnerability was detected minutes before this warning.

it really depends on the OP if he will still use the platform despite of the warning. the risk is on him so if in case something goes wrong once he uses it, then, that's on him. it is a warning, so it is up to you if you will be cautious or will just proceed at your own risk. for me, i better look for other DEX, which is more popular and solid.

The risk of decentralized wallet assets depends entirely on the individual themselves. Protecting the private key and mnemonic is the guarantee to avoid risks. The security of the blockchain is always a topic of greatest concern to each of us. When you interact with contracts, you need to pay more attention to whether you are using genuine software or applications. Many hackers will use this to steal users' wallet assets.

[Apocollapse]

Now I wonder where the @OP is? he need to comeback and tell what he has been doing so far, does he have contact the Trustwallet support or proceed it despite the warning message appeared on his wallet.

The risk of decentralized wallet assets depends entirely on the individual themselves. Protecting the private key and mnemonic is the guarantee to avoid risks. The security of the blockchain is always a topic of greatest concern to each of us. When you interact with contracts, you need to pay more attention to whether you are using genuine software or applications. Many hackers will use this to steal users' wallet assets.

There's no decentralized wallet, but non custodial wallet.

Do you think custodial wallet is safer than non custodial wallet? custodial wallet has higher risk where the exchange got hacked and all of your money you've make since 12 years will be useless. Any security layer that you use to tighten your account like 2FA, strong password, private email etc will be useless too.