Is the standalone OKX Wallet App safe?

Ouyi Wallet ensures the security of user assets through technologies such as cold storage, multiple encryption, SSL encrypted communication and real-time monitoring, plus multiple identity verification and authoritative audit.

Mar 24, 2025 at 01:48 pm

• Cold storage mechanism ensures asset security : Ouyi Wallet stores most of its user assets in cold wallets. A cold wallet is a storage device completely isolated from the Internet, like locking valuables in an isolated safe. Hackers have difficulty accessing these assets through network channels, which effectively resists cyber attacks and hacker intrusions, greatly reducing the risk of assets being stolen. Many large cryptocurrency institutions, such as Coinbase, use cold storage to protect a large number of assets, and Ouyi Wallet’s cold storage strategy is in line with industry best practices.

• Multiple encryption technology protects data security : The application uses multiple encryption technology, including the industry-wide recognized AES256-bit encryption algorithm and ECDSA digital signature technology. The AES256-bit encryption algorithm can provide high-strength encryption protection for data stored by users in their wallets, such as transaction records, asset balances, etc., ensuring that data is difficult to crack during transmission and storage. ECDSA digital signature technology is used to verify the authenticity and integrity of each transaction, ensuring that transactions are initiated by legal users and have not been tampered with.

• SSL encrypted communication escorts data transmission : In the data transmission process, Ouyi Wallet adopts international standard SSL encrypted communication technology. This is like setting up layers of security checks on the highway for information transmission to ensure the security of data when transmitted from user equipment to wallet servers and interactions between servers, effectively preventing data from being stolen or tampered. The online banking we use daily also uses similar SSL encryption technology when transmitting data to ensure the security of user information.

• Real-time monitoring and early warning system is on duty all-weather : Ouyi Wallet has real-time monitoring functions, always like a tireless guard, monitoring transactions and account behaviors in the wallet. Once abnormal transactions or account behaviors are detected, such as a large number of funds from unknown sources occurring in a short period of time, or abnormal changes in the login location, the system will immediately issue an early warning. Users can take timely measures based on this, such as freezing their accounts, changing their passwords, etc., to avoid losses.

• SMS verification code verification : When a user uses Ouyi Wallet to log in or perform important transactions, the system will send a verification code to the mobile phone bound by the user. Only by entering the correct verification code can the corresponding operation be completed. This method adds a security line to user accounts, effectively preventing others from maliciously logging in or conducting transactions.

• Google Authenticator Dynamic Password Verification : Users can also choose to use Google Authenticator for secondary authentication. Google Authenticator generates a brand new 6-digit password every 30 seconds, and users need to enter this password within the specified time to verify. This dynamic password verification method greatly increases the difficulty of hackers to obtain user account access rights, and further improves the security of the account.

• Setting a strong password : When setting up a wallet password, users should follow the principle of strong password, including upper and lower case letters, numbers and special characters, and the length is no less than 12 digits. Avoid using simple and easy-to-guess passwords, such as birthdays, continuous numbers, etc., to reduce the risk of password cracking.

• Properly keep private keys and mnemonic words : Wallet private keys and mnemonic words are the key to accessing and controlling wallet assets. Users must keep it with caution and do not disclose it to others at will. At the same time, do not use wallets in an unsafe network environment, such as avoiding wallet operations under public WiFi networks, because public networks are less secure and are prone to hackers and information stealing.

• Beware of phishing sites and malware : Hackers often create phishing sites similar to real wallet sites, tricking users into entering private keys or passwords. When users access their wallet, they must carefully check the website address to ensure its authenticity. In addition, the operating system and wallet applications should be updated regularly to prevent malware intrusion. Software updates usually fix known security vulnerabilities and improve the security of the software.