2026-01-06 11:20:23

In the community, people often shout "Private keys are everything," and many believe it to be true, thinking that as long as they keep their private keys safe, their assets are secure. But the PEPE incident directly slapped this notion in the face.

The fact is, private keys only give you control over the assets in an address; that's all. The real killer features are the mechanisms embedded in the smart contract, such as blacklist functions, which are the true game-changers. The PEPE contract code has a built-in blacklist, meaning the project team can freeze assets of anyone with just one click—no matter how securely you keep your private keys.

This is the key point: in the world of smart contracts, permission structures are layered. Your private key is just a tool within a predefined rule framework; the project team's control over the contract is a higher-level authority. You can operate your address, but only if the project team allows it—they can change this permission at any time through contract parameters.

This isn't to say that private key management isn't important, but to recognize that having a private key alone doesn't fully protect your assets. Choosing projects, reviewing contract code, and understanding the project's permission settings are equally, if not more, important lessons.

PEPE-2,1%

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DeFiDoctor

· 01-09 09:39

The blacklist mechanism is indeed a pain point. Clinical records show that projects like PEPE exhibit clinical symptoms of permission over-privileging. However, I have to say, skipping even basic code audits and still claiming private key security— isn't that self-deception?

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ChainWatcher

· 01-09 05:00

Damn, no matter how securely you store your private keys, it's useless if the contract code has vulnerabilities. The lesson from PEPE is too deep—blacklist one-click freeze, and assets are directly gone. That's the real killer feature. So, choosing the right project is actually much more important than just hoarding coins. Those coins that seem safe might actually be hiding risks.

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unrekt.eth

· 01-07 20:48

Wake up, private keys are really not the master key; contract permissions are the real boss.

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LayerZeroHero

· 01-07 09:39

Getting harvested again? This time it's the contract blacklist, what will it be next time? Really need to check out these projects' code, don't just shout about private key security and think it's done. The PEPE incident directly exposed it; the project team is the real god.

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GateUser-beba108d

· 01-06 11:50

Damn, PEPE's move was really fierce. No matter how securely you keep your private keys, you can't prevent the blacklist tactic.

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GasFeeCrybaby

· 01-06 11:50

Keeping the private key safe isn't enough; it depends on how the contract is written... that's the real minefield.

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DegenTherapist

· 01-06 11:44

Another survivor bias story: private keys are indeed important but definitely not the master key Someone should have pointed this out earlier; the PEPE incident was a truly bloody lesson Contract blacklists are like invisible censorship; who dares to say they are completely trustworthy Honestly, reading contract code is much more practical than obsessing over private key management These days, we need to reflect on what we are really trusting—project teams have authority that surpasses everything

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MemeCurator

· 01-06 11:37

Wow, this is the real truth. No wonder PEPE's move was so outrageous. A private key is really just an entry ticket; the contract is the boss. Someone should have clarified this long ago.

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NftMetaversePainter

· 01-06 11:32

yeah so basically the whole "not your keys not your coins" thing conveniently glosses over the fact that devs can just... lock you out anyway lmao ngl this pepe situation really exposed how the hierarchy works in smart contracts... ur private key is basically just access within whatever sandbox the project lets u play in

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ForkInTheRoad

· 01-06 11:32

Wake up everyone, private keys can't save you at all. --- Once the contract blacklist is activated, even the strongest private key is useless; the project team is the boss. --- No wonder so many people get exploited. Do they really think private keys can keep them safe? Laugh out loud. --- So, looking at the code is more important than storing private keys, but most people don't know how to read it. --- The PEPE incident is a bloody lesson; permission architecture is the real boss. --- What's the use of managing private keys well? The project team can freeze your assets with one click. --- Now I realize that auditing contracts is more important than anything else, but it's a shame I learned too late. --- It's all because this circle keeps shouting "private keys first" every day, but in fact, permission structures are the real ticking time bombs.

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