Back to: Security & Self-Custody Advanced
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Objective: run a 15-minute safety check on any protocol before depositing — the same screen professionals run first.
Concept: the checklist
- Verified code? Unverified on the explorer = walk away with size.
- Audit exists? Who audited, when, were criticals fixed, has code changed since?
- Admin powers? Mint/pause/blacklist/upgrade — who holds them, what threshold?
- Liquidity reality? Locked/burned LP vs removable; holder concentration.
- Oracle dependence? What price feed, how manipulable?
- Team/track record? Anonymous + unaudited + big promises = the full bingo card.
Hands-on lab (free)
- Pick any trending token and run all six checks, writing one line each.
- Find its audit (or confirm none exists) and read just the criticals section.
- Check holder distribution + liquidity locks on an explorer. Verdict in one sentence.
Safety checklist
- Two “don’t knows” = don’t deposit. Curiosity is for testnets.
- Bookmark your checklist; reuse it identically every time (rituals beat memory).
- Re-check quarterly — contracts upgrade, teams change, audits age.
Related glossary
Next lesson: SIM-swap and address-poisoning lab.