Phantom Wallet Adds 3 New Authentication Standards To Prevent Phishers

Key Points: Phanttom wallet now supports Web3 authentication standards.
These standards are intended to increase security when users interact with dApps and prevent users from being phished.
An attacker can get one and bypass the authentication process, potentially gaining sensitive data or assets.
Phantom, an app for cryptocurrency wallets, has added a Sign in With (SIW), capability to increase security and prevent phishing attacks. Phantom will provide information to users when they interact with decentralized apps that adhere to certain security standards. These standards are for Solana and Ethereum users such as Sign In with X (CAIP-122) or Sign In with Ethereum (EIP-4361). By signing a message these standards allow crypto accounts to securely authenticate using off-chain services. Phantom will notify users if a dApp uses a SIW format that contains invalid fields. The wallet will display pop-up fields asking for information about the nonce and domain name to prevent signature replay attacks. An attacker can intercept a digital signature and use it to gain unauthorized access. An attacker can use a digital signature to verify the legitimacy of transactions or messages. However, if they obtain one, they can bypass the authentication procedure and gain unauthorized access to sensitive data or assets. The “Sign In With” standards are intended to eliminate confusion when assessing whether a user is susceptible to phishing attacks. Phantom believes that the decentralized web ecosystem will eventually fully embrace SIW standards as a chain-agnostic solution for generic sign-in messages and an alternative to centralized identity providers.DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.Join us to keep track of news: NewsTags: PhantomPhantom appPhantom WalletPhantom WalletsSign In WithSIW