When it comes to blockchain security, many people's first reactions are the classic topics like smart contract audits and private key management. But in reality, the threats that can wipe out a wallet overnight often hide in the corners of cryptography itself.

SlowMist team recently compiled an in-depth analysis of common cryptographic risks in Web3 applications, revealing that these issues are more widespread than we imagine. For example, some projects casually use weakened encryption algorithms, or have lapses in key generation and management. These details are enough to break through seemingly solid security defenses.

The most heartbreaking part is that many applications have configuration flaws in fundamental processes like signature verification and message authentication. Some use outdated hash functions, some have a very casual design for key derivation, and some projects completely misunderstand entropy, with a zero understanding of its importance. This means attackers don't need overly complex methods to forge transactions or impersonate users.

Every step of on-chain interaction involves cryptographic primitives—from wallet address generation and transaction signing to smart contract authentication logic. If any one of these steps chooses the wrong algorithm or parameters, the entire chain could be compromised. DeFi protocols, NFT platforms, cross-chain bridges—any scenario relying on cryptography can be a pitfall.

To truly protect assets, you need to start by understanding these risks. Auditing code isn't just about finding logical bugs; it also requires a deep assessment of cryptographic infrastructure. Choosing to use verified cryptographic libraries, regularly updating dependencies, and ensuring that the random number generator is reliable before generating any keys—these details often determine whether a project is rock solid or on the brink of collapse.