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- Polkadot recently took to Twitter to highlight the case of recurring wallet related scams
- The platform declared its decision to re-examine all the contributions made to Polkadot Wallets Wiki page
- They accomplished a significant update by the amalgamation of a wallet with Polkadot
Polkadot is a flagship program created by Web3 Foundation, a Swiss Foundation. It was founded to offer a fully active and customer-friendly decentralised framework of the web.
Its primary purpose is to enable various blockchains to move across messages, including value, in a loyal fashion. It further allows them to share their distinctive features while blending their security. In short, Polkadot is a multi-chain technology that represents scalability and heterogeneity.
The Twitter announcement
DOT recently took to Twitter to announce a significant step associated with the program of Polkadot. The platform fell victim to consistently recurring wallet related scams. The chaos is heavy and has disrupted its other processes as well.
In response to the same context, company declared that it has decided to re-examine all the contributions made to Polkadot Wallets Wiki page. Further, it emphasised that all the community contributions moving ahead will be assessed.
The working of Polkadot Wallets
The amalgamation of a wallet with Polkadot is one of Polkadot’s significant updates managed to bring forward. It allows for easy and quick access to private keys and official transactions. Signer and Polkadot-JS are some of the vital wallets that assist Polkadot in the process.
However, a few recently accelerated JSON account files cannot be restored into existing wallet software. The reason being that the enhanced encryption method highlights every little delay when one is encrypting/decrypting the respective wallet.
The scam warning
Polkadot has specifically mentioned various rules as to how to avoid scams while using the platform. The website claims that scams are very harmful and emphasise the importance of staying aware and protecting oneself from them. Mostly, there is an inevitable need to protect crypto non-refundable crypto assets from scammers.
The website highlights the essential precautions that need to be taken care of. Some of them are as follows: First, it strictly asks the users to avoid sharing their passwords. Secondly, it reminds the users to avoid trusting anyone online as it is effortless to manipulate identities.
Another vital point Polkadot puts forward is that there is possibly nothing that can be done to fix a scam. Thus, the complete onus lies on the user to be extremely careful.
Hence, it will be interesting to observe how the platform proceeds with the current scenario while ensuring the associated users’ satisfaction.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
