Is Based safe to connect?
Web trading terminal ยท Hyperliquid (perps and spot), HIP-3 stock perps, Polymarket (predictions). Checked 2026-10-25; every line links its source.
Worst case: Your trading account lives on Hyperliquid and is controlled by the wallet or login you connect. If that wallet or login is compromised, or you sign in on a fake Based site, your perps and spot balances can be traded away or withdrawn, and leveraged positions can also be liquidated.
Safe setup in 3 steps
- Reach Based only via based.one or app.based.one (both listed on its docs' Official Links page), and get the mobile app from the App Store link on based.one
- Use a dedicated wallet or login for Based with only the margin you intend to trade, and set your withdrawal address in advance
- Leverage can wipe out a position on its own, so set stop-losses (the terminal supports TP/SL and trailing stops) and size positions you can afford to lose
What it can do with your money
| Who holds the keys | You hold the keys Based's docs say it 'never takes custody of your funds. We don't store your keys.' You either create a self-custodial wallet with email or Google, or connect an existing wallet. The docs don't say who provides the email/Google wallet. source |
|---|---|
| Can funds be sent out to any address? | Yes. Deposits and withdrawals are managed in the terminal, and you can set withdrawal addresses. source |
Official links
- Website:
based.one - Telegram:
@BasedOneVerification - X:
@BasedOneX - App:
https://apps.apple.com/app/basedapp-crypto-wallet/id6747331142
Where we confirmed these
Incidents
None found in official sources or reputable reporting for 2024 to 2026. That doesn't prove nothing happened.