Security should always be your first priority when using crypto, and that includes Binance Smart Chain (BSC). This article aims to provide users, developers, and other ecosystem participants with a toolbox to improve their security when interacting with BSC and DeFi.

Before we dive into the toolbox, please keep in mind our Binance Chain Blog, a blog for thoughts, stories, and ideas about Binance Chain, Binance Smart Chain, DeFi, NFTs, and more. Reading through the latest security-themed articles will help you get a better understanding of security and the best place to start is our article Security First in BSC & DeFi: Is Binance Smart Chain Safe?.

If you are a BSC user,  we suggest you DYOR,  regularly update your knowledge and understanding of BSC & DeFi and participate in community education activities hosted by different BSC projects. Here are some tools you can leverage:

How to learn about BSC and the projects on it?

  • BscScan: The block explorer and analytics platform for the Binance Smart Chain. It allows you to explore and search the BSC blockchain for transactions, addresses, tokens, verified contracts, and other activities taking place on it.
  • BscProject:  A third-party blockchain explorer and analytics website, continuously tracking network data, project data, and updating the projects on BSC. If you want to learn about the network status and the BSC ecosystem landscape, don’t forget to check out there.
  • Debank: Likewise, a data analytics site, tracking the network data and hundreds of projects not just on BSC but also other blockchains. You can compare the markets among different chains.
  • Certik Blockchain Security Leaderboard: A dashboard built by Certik which monitors projects on BSC, providing insights from different angles.
  • Binance Academy: Binance Academy offers a series of contents for general users to learn about blockchain, cryptocurrency, security, technology, or following along with tutorials. You can learn about Security Audit and How to spot scams in DeFi out there.

How to report scams or suspicious activity if there are any?

  • Community Feedback: Thanks to PeckShield, one of the major security partners within the BSC ecosystem, there’s now an easy way to report scams, assets stolen, rug pulls, hacks or any suspicious activity.

If you are a developer, we suggest you conduct the following things:

  • Paying close attention to the BSC Tech Workshop Series. Don't miss out. It provides a systematic blockchain knowledge framework and can help you understand the blockchain ecosystem and technology from different angles. The ongoing theme is Security First in DeFi. Learn about best practices from these sessions!

Session

Topic

Guest

Link

Session 1

Understand the security risks of blockchain

Certik

https://www.youtube.com/watch?v=ErvOqJZB5lU&t=5s

Session 2

Incident response process during and after hacks and exploits

Merkle Science

https://www.youtube.com/watch?v=AkE3ChaujC4

Session 3

How projects respond to risks and how general users can protect themselves? 

Cream, dForce, Autofarm, Ogle

https://www.youtube.com/watch?v=WDU-osq7_uw

Session 4

Best practices for working with data/oracle in a smart contract

Chainlink

https://www.youtube.com/watch?v=AYRn0Wp9vS4

Session 5

Proactive defense for DeFi protocols: Security as a never ending process

Immunefi

https://www.youtube.com/watch?v=jVhPOSqa7s4

Session 6

How to use fantastic metrics to monitor your Web3 project?

Tenderly

https://www.youtube.com/watch?v=hnv9uu7bCAc

  • Going through at least 2 audits (the more, the better) and proactively working with security companies with a solid reputation to keep analyzing potential vulnerabilities. Certik, the leading security-focused ranking platform and also one of our Crypto Alliance members, has just released a thorough guide for How to Prepare for a Security Audit.
  • Introducing your own bounty program or leveraging 3rd party platforms like Immunefi., which can attract community testers to identify issues earlier.
  • Reporting your project to rating institutions like Defisafety.com, which gives a % score showing how close to perfect the projects follow process and quality best practices.
  • Dedicating a portion of your funds to SAFU-like insurance to protect your users and their funds.
  • Ensuring high-level transparency to the community.  Please update project operational status and every significant technical upgrade with your community. Onboarding dashboards like Certik Blockchain Security Leaderboard will be also beneficial for the community to track your data.
  • Joining the conversation about security, smart contract, infra, etc in the new BSC Discord community and Dev TG community. BSC is a community-driven blockchain, we will need the whole community to support each other to enhance the network security. Looking forward to your participation and contribution.

Disclaimer: All the platforms and projects mentioned above are third-party channels and do not have any direct associations with BSC. Please note the content does not constitute an endorsement or approval of any of the products or services of the project, organization, or individual.