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TRIO Crypto Wallet – No More Transfers Nowhere!

Updated: Mar 15

TRIO wallet is a self-custodial, named crypto wallet for Ethereum-based networks.

In my previous post - TRIO Wallet - the Freedom from Fear, I have outlined the five issues resolved by TRIO:

1. the fear of losing it all, including losing the wallet or the "password" to your wallet.

2. the fear of losing some, including making erroneous transfers due to honest mistakes and deliberate transfer fraud.

3. the fear of criminals, including the infamous "5-dollar-wrench attack" and ransomware attack.

4. the fear of hackers, including stealing your private key

5. the fear of fear, including mistrust in technology and failed promises.

In this post, I will address the second one: the fear of losing some.

How can we ensure the destination is correct when we send crypto tokens to a public address?

Sending crypto nowhere, especially to the token contract address, is irreversible. Those who buy and sell cryptos or have ever transferred their holdings to another person using wallet addresses know how easy it is to make a mistake and send it to the wrong place. Many exchanges realize a considerable chunk of their revenue stream and earnings due to people mistakenly sending crypto. In one incident, an investor known only by their Reddit handle, TheDJFC, sent 800 Bitcoin to the wrong address. He explained in his post that he was moving the coins between wallets when he accidentally selected the incorrect address.

One may argue: let's not make stupid mistakes by typing long hexadecimal addresses – we will copy/paste them from the "address book."

Since at least 2017, cybercriminals have been deploying a type of malware known as "Clipper" malware, which hijacks a user's clipboard and replaces a destination crypto address with the malicious hacker's crypto address. In what amounts to be an amazingly nefarious bit of malware, hackers have created another exploit that watches 2.3 million high-value crypto wallets and replaces the addresses in the Windows clipboard.

How TRIO wallet solves this problem?

  • With TRIO "created" account transfer, you cannot transfer "nowhere" by mistake. The system will prevent you from doing this. If you send tokens to a legitimate address – the system will return the Name of the person you are sending it to.

  • With TRIO "imported" account - TRIO repeats the recipient address and requests the sender to confirm it with a strong identification. Sometimes what you see is NOT what you get. SoTRIO uses patented technology to prevent the transfer to the address modified by malware.

Therefore the fear of losing some, including transfer to nowhere by mistake or induced by malware, is resolved.

Stay tuned for more!

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