I think that’s a great idea. When doing a transfer, check if there’s something fishy about the receiving adress. It could check against a database. I suppose regulation could suggest/demand that something similar should be implemented. Perhaps even demand a sidechain where certain accounts could be frozen.
I think I can improve on the idea. Let’s say you become a millionaire and now you want something like an Aston Martin sold by your local supercar dealer who accepts your cryptocurrency.
You want to make sure the transaction goes to the deaöers account, right? Absolutely 100 %. Therefore, it would be nice if there were verifiable accounts. The car dealer ceeates a receiving address that is signed, just like software on Windows.
And when you enter th address, the wallet would say clearly who ot belongs to.
This is much better than some kind of short name algorithm that I have seen because you could create something very similar by mixing latin and cyrillic characters.
The community is the network, and without better consumer protection the network is at risk. Having no recourse beyond sucks you got suckered is very chilling for this fledgling economy and technology! Blockchain should solve against these practices an immutable ledger is easily tracked, every transaction, and coin are completely traceable!
I think a warning for the Yoroi wallet would be a good idea. Could be just a message box with a countdown and some text like “giveaways are scams” etc. and then as suggested, a checkbox “don’t show the warning again”. That’s a minor nuisance for the smart user, but might prevent some of the not so smart users to fall for it, and so it is worth it.
But the Yoroi wallet spending password test should be improved as well, as I wrote elsewhere. Currently the software accepts passwords like “1111111111”. There should be some entropy checks, I’m sure there are already many libraries which does this, to prevent such passwords. Because this makes it much easier for malware developers to steal the money, if it can read files. Otherwise it would need to install keyloggers, and then it is more probable that virus scanners catch known malware before the wallet is used the next time. From reading the forum articles, looks like money gets stolen from the wallet at least as often as people fall for scams.
A hardware wallet would be most secure, but not everyone wants to buy one and can be more complicated to use. As an alternative, I think if some 2FA concept could be implemented for a software wallet this would be great. Like with an independent authentication software on a mobile phone, as many exchanges and other websites are using it. This would probably prevent 99% of all robberies.
Most scams work by confusing people and get them caught up in the moment conning them to commit an action they would not do if they just had a few more minutes to think about it.
Wallets could have a protection against that, it’s not even hard to implement.
Wallets could have an option in the settings that users can check for extra help to do things right and a big warning every time a final transaction is about to take place.
And a time setting for example 1 hour cooldown before the transaction is actually sent from the walled after a user have signed it, so a user can have some time to realize what mistake they just done and stop the transaction from the wallet before it’s actually sent.
Or a more light version with a message “CHECK YOUR SOURCES about this transaction!”.
And “I know what I’m doing” setting without the above, as most wallets are now.
The setting could be chosen for a wallet as it’s created or changed in program settings.
Once back in the day I saw a XXXX amount of bitcoins sent as transaction fee and 0.1 added as amount to be sent, an obvious mistake in the wallet by a confused user.
It might even have been tens of thousands of bitcoins… I only remember it was a lot even back then. Maybe 2013.
The wallets have changed since then and this mistake is not as likely to happen.
But there is a lot more that could be done to wallets in general in my opinion to help users that are not tech savvy.
Also, secure your wallets with some kind of hardware key protection and if you have a big amount of money, consider having a dedicated computer to handle that wallet, for example to send some tokens out of a cold storage. Only load from cold storage on a secure device that is not used to anything else. (to minimize attack vectors.)