Wallet Whitelisting/suspicious wallet warning

Right now we have an issue of bad actors attempting to scam individuals involved with cryptocurrency. I have been pondering this for a few weeks now. My initial thought was to propose blacklisting wallets and reverse all input transactions until the wallet was empty. I put this idea to Colin and we agreed it would create some centralisation issues but ultimately thought it may be worth looking at for the greater good.

I have since thought of a happy medium, I believe everyone would be happy with, in the form of wallet whitelisting.

Wallet Whitelisting

So the idea behind this is to create a way to whitelist wallet addresses. When you set up a wallet (moonlet etc) You would be required to set a password for wallet whitelisting, once set this password would then be stored on the blockchain in a secure fashion. You wouldn’t have to immediately make a wallet whitelist, but would immediately have to set a password (otherwise if someone gained access to your wallet then they could just set a password and wallet whitelist)

The reason for this is thanks to the unstaking period. Should you realise that someone has gained access to your wallet within this 14 day period you can simply log in and add a wallet to your whitelist using the password stored on the blockchain, completely negating any theft attempt before the unstaking period is over. Having no whitelist would default to being able to send funds to any wallet

If the user wanted to be extra secure, a multiple whitelist could be created, you could for example add up to five wallet addresses and only ever be able to withdraw to those until you changed them, this way should you forget your password then you really should have at least one active wallet still to recover funds to.

The above could even incorporate a ratio free to withdraw to any address. There could maybe be an option to allow a percentage of funds to be allowed to be withdrawn to any wallet per day. Maybe you buy coffee with Zil every morning, allowing 2% per day to be withdrawn to none-whitelisted wallets would allow you to buy a coffee while only allowing scammers to take 2% of your total balance per day, enough that you notice, not enough that all of your funds will be taken.

Suspicious wallet warning

This is the second part of my proposal. Without blacklisting, a wallet could be marked as suspicious. The owner may be offering to send 1000 Zil and get 2000 back, or earn $5000 per week if you send them funds. A simple this wallet has been showing suspicious behavior label to make the sender think if what they are doing is safe. We can all retweet a scam wallet, but you really have to have to information at hand when transacting.

For this to work it would probably need to be reported using in wallet features to verify legitimacy and biased to wallet age and balance. You would probably ignore 10 wallets that are one month old with 100 Zil in each reporting the same wallet, but mark a wallet suspicious if 3 wallets 9 months old reported it. Since the one month old wallets are more likely to be trying to cause issue with a wallet owner rather than have a genuine report.

This idea could also be built upon, screenshots uploaded to the blockchain in the same fashion as NFT’s so senders can see what others have seen to report the wallet.

Also I have no idea if this post is even in the right place. It’s here now, feel free to move it to where it’s meant to be :sweat_smile: