Spring Festival Asset Security Handbook: How to Protect Your Tokens?

As the Lunar New Year approaches, it's a time to bid farewell to the old year and welcome the new, and also a time for reflection: In the past year, have you fallen into the trap of a Rug Pull project that has run away with your money? Have you been "buying in and immediately getting stuck" because of the hype from KOLs promoting trading? Or have you suffered losses due to the increasingly rampant phishing attacks caused by accidentally clicking links or signing contracts? Objectively speaking, the Lunar New Year doesn't create risks, but it can amplify them—when the frequency of fund flows increases, when attention is diverted by holiday plans, and when the pace of trading accelerates, any small mistake is more likely to be magnified into a loss. Therefore, if you are planning to adjust your positions and reorganize your funds before the holiday, you might as well give your wallet a "pre-holiday security check." This article will also start from several real and high-frequency risk scenarios and systematically outline the specific actions that ordinary users can take. I. Beware of "AI face-swapping" and voice simulation scams. The recently popular SeeDance 2.0 has once again reminded everyone of a fact: in an era of accelerated AGI penetration, "seeing is believing" and "hearing is believing" are becoming ineffective. It's fair to say that since 2025, AI-based video and voice fraud technologies have become remarkably sophisticated. Features like voice cloning, face-swapping, real-time facial expression mimicry, and tone simulation have entered a low-barrier, scalable "industrialization stage." In fact, AI can now accurately recreate a person's voice, speech rate, pauses, and even micro-expressions, meaning this risk is particularly amplified during the Spring Festival. For example, while traveling home or during a gathering with family and friends, a message pops up on your phone. It's a "friend" from your contacts, sending a voice or video call via Telegram or WeChat, sounding urgent, claiming their account is restricted, they need to manage their red envelopes, or they need a small amount of tokens temporarily, requesting an immediate transfer. The voice sounds perfectly natural, and the video even features a "real person." With your attention diverted by holiday plans, how would you judge their identity? In previous years, video verification was almost always the most reliable method, but today, even if the other party is speaking to you with their camera on, it's no longer 100% trustworthy. In this context, simply watching a video or listening to a voice message is no longer sufficient for verification. A more reliable approach is to establish a verification mechanism with your core circle (family, partners, long-term collaborators) that is independent of online communication. This could involve offline codes known only to each other, or detailed questions that cannot be inferred from publicly available information. Furthermore, we must re-examine a common path-related risk: links forwarded by acquaintances.As is customary, during the Spring Festival, "on-chain red envelopes" and "airdrop benefits" can easily become viral marketing gimmicks in the Web3 community. Many people aren't scammed by strangers, but rather by trusting acquaintances who forward their messages, thus clicking on carefully disguised authorization pages. Therefore, everyone needs to remember a simple yet extremely important principle: never click on any links from unknown sources directly through social media platforms, and never authorize them, even if they come from "acquaintances." Ideally, all on-chain operations should be performed through official channels, bookmarked URLs, or trusted portals, rather than in chat windows. II. Conduct a "Year-End Cleanup" of Your Wallet If the first type of risk comes from trust being forged by technology, then the second type of risk comes from our own long-term accumulated hidden risk exposure. As we all know, authorization is the most basic and easily overlooked mechanism in the DeFi world. When you operate in a DApp, you are essentially giving the contract the right to control a token. This could be a one-time grant, an unlimited amount, a short-term validity, or even remain effective until you've long forgotten its existence. Ultimately, it may not be an immediately effective risk point, but it is a continuously existing risk exposure. Many users mistakenly believe that as long as assets are not stored in contracts, there are no security issues. However, during bull market cycles, people frequently try various new protocols, participating in airdrops, staking, mining, and on-chain interactions, accumulating authorization records. When the hype dies down, many protocols are no longer used, but permissions remain. Over time, these excess historical authorizations are like a pile of neglected keys; if a vulnerability occurs in a protocol you've long forgotten, it can easily lead to losses. The Spring Festival is a natural time for review. It's worthwhile to take advantage of the relatively stable period before the holiday to systematically check your authorization records: Specifically, you can revoke unused authorizations, especially unlimited authorizations; use limited authorizations for large amounts of assets held daily, rather than permanently granting full balance permissions; and separate long-term stored assets from daily operational assets, creating a layered structure of hot and cold wallets. In the past, many users needed to use external tools (such as revoke.cash) to complete these checks, but now mainstream Web3 wallets have built-in authorization detection and revocation capabilities, allowing you to view and manage historical authorizations directly within the wallet. Ultimately, wallet security is not about never granting permissions, but about the principle of least privilege—granting only the necessary permissions at the moment and revoking them promptly when no longer needed.Third, don't be complacent during travel, social interactions, and daily operations. If the first two types of risks stem from technological upgrades and the accumulation of permissions, then the third type of risk comes from environmental changes. Traveling during the Spring Festival (returning to hometowns, traveling, visiting relatives and friends) often means frequent device switching, complex network environments, and intensive social interactions. In such an environment, the vulnerabilities of private key management and daily operations are significantly amplified. Mnemonic phrase management is the most typical example. Saving screenshots of mnemonic phrases to phone albums, cloud storage, or forwarding them to oneself via instant messaging tools is often done for convenience, but in mobile scenarios, this convenience itself constitutes the biggest hidden danger. Therefore, remember that mnemonic phrases must be physically isolated, avoiding any online storage methods. The bottom line for private key security is being disconnected from the network. Social scenarios also require boundary awareness. Showing large asset pages or discussing specific holdings during holiday gatherings is often unintentional but can lay the groundwork for future risks. Even more alarming is the behavior of guiding users to download fake wallet applications or plugins under the guise of "exchanging experiences" or "tutorial guidance." All wallet downloads and updates should be completed through official channels, not through social chat windows. In addition to the above, always verify three things before transferring funds: the network, the address, and the amount. There have been too many cases of whales losing substantial assets due to phishing attacks using addresses with similar first and last digits. Furthermore, similar phishing attacks have become industrialized in the last six months: Hackers often generate a massive number of on-chain addresses with different first and last digits as a seed database. Once an address makes a transfer with an external party, they immediately find addresses with the same first and last digits in the seed database, then invoke a contract to perform a related transfer, casting a wide net and waiting for the harvest. Because some users sometimes directly copy the target address from transaction records and only check the first and last few digits, they fall victim. According to Yu Xian, founder of SlowMist, phishing attacks targeting first and last digits are "a game of casting a wide net, waiting for willing users to take the bait, a game of probability." Due to extremely low gas costs, attackers can mass-produce poisoned addresses of hundreds or even thousands, waiting for a few users to make mistakes while copying and pasting. A single successful attack yields profits far exceeding the cost.These issues don't stem from technical complexity, but rather from everyday operational habits: thoroughly verifying address characters, not just checking the beginning and end; avoiding copying transfer addresses directly from history without verification; conducting small-scale tests before first transferring to a new address; prioritizing address whitelisting and managing frequently used addresses; and in the current decentralized system dominated by EOA accounts, users remain their primary responsibility and last line of defense. In conclusion, many feel the on-chain world is too dangerous and unfriendly to ordinary users. Realistically, Web3 cannot provide a zero-risk world, but it can create a manageable risk environment. For example, the Spring Festival is a time of slower pace and the best window of opportunity to manage risk structures. Instead of hastily operating during the holiday, it's better to complete security checks in advance; instead of remedial action afterward, it's better to optimize permissions and habits beforehand. Wishing everyone a safe and prosperous Spring Festival, and may everyone's on-chain assets be stable and worry-free in the new year.

RichSilo Exclusive Analysis:

Spring Festival Security Alert: The Evolving Threat Landscape for Crypto Investors

The Lunar New Year security handbook arrives at a critical juncture for the crypto market, coinciding with both increasing institutional adoption and increasingly sophisticated attack vectors. While framed as seasonal advice, this guide actually illuminates fundamental shifts in the security paradigm that will permanently reshape how experienced investors must approach asset protection.

Market Implications Beyond the Holiday

The Spring Festival doesn’t create new risks so much as expose existing vulnerabilities during periods of heightened user activity and distraction. This pattern extends far beyond holiday seasons—it applies equally to bull market frenzies, airdrop seasons, and periods of market euphoria when vigilance typically decreases.

What’s particularly concerning is the industrialization of attacks mentioned in the guide. When phishing becomes “a game of casting a wide net, waiting for willing users to take the bait, a game of probability,” we’ve moved beyond opportunistic hacking to systematic exploitation. This has profound implications for token prices and market dynamics:

  • Short-term volatility spikes following high-profile security incidents
  • Increased demand for security-focused projects and protocols
  • Potential market consolidation around projects with demonstrably superior security practices
  • Growing importance of security audits and verifiable track records

The AI Security Paradigm Shift

The most significant revelation in this guide is the emergence of AI-powered social engineering as a credible threat. When “seeing is believing” and “hearing is believing” become ineffective, the entire foundation of digital trust is compromised. This represents a paradigm shift that few in the crypto space have adequately addressed.

For investors, this creates several immediate risks:

  1. Verification Overload: Traditional verification methods (video calls, voice confirmation) become unreliable, forcing investors to develop more sophisticated identity verification protocols.

  2. Trust Erosion: The ability to impersonate trusted individuals at scale undermines the social fabric of crypto communities, where personal networks often drive investment decisions.

  3. Attack Surface Expansion: As AI technology becomes more accessible, the barrier to entry for sophisticated social engineering decreases dramatically.

From an opportunity perspective, we anticipate increased investment in:

  • Identity verification protocols resistant to AI manipulation
  • Multi-factor authentication systems incorporating behavioral biometrics
  • Decentralized identity solutions with built-in fraud detection

Wallet Hygiene as a Competitive Advantage

The guide’s emphasis on wallet “year-end cleanup” reflects a maturing understanding of crypto security. For experienced investors who may have accumulated numerous permissions across protocols during the last bull cycle, this represents both a risk and an opportunity.

The risk is clear: accumulated permissions create ongoing vulnerability even to protocols that may no longer be in use. The opportunity, however, is to differentiate between projects based on their security hygiene. Investors should consider:

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  • Permission Granularity: Protocols that implement precise, time-bound permissions gain competitive advantage
  • Transparency: Projects offering clear visibility into authorization practices will attract more sophisticated investors
  • Security by Design: Developers who bake security into the core architecture rather than bolting it on post-deployment

Social Engineering in Physical-Digital Hybrid Environments

The guide’s warning about risks during travel and social interactions reveals a critical blind spot in many investors’ security posture: the confluence of physical and digital security threats.

Spring Festival travel—characterized by device switching, public Wi-Fi usage, and social gatherings—creates perfect conditions for multi-vector attacks. For crypto investors, this means:

  • Physical Security: Mnemonic phrase protection becomes as important as digital security
  • Network Security: The proliferation of public hotspots increases interception risks
  • Social Engineering: Holiday gatherings become opportunities for information harvesting through seemingly innocent conversations

This creates a significant opportunity for hardware wallet manufacturers and providers of secure offline solutions that bridge the physical-digital divide.

The Address Similarity Phishing Threat

Perhaps most alarming is the industrialization of phishing attacks targeting address similarities. When attackers can generate “poisoned addresses” at scale with minimal cost, the traditional verification methods used by even experienced investors become inadequate.

This trend has several implications:

  1. Address Management Solutions: We expect to see increased demand for address book solutions with built-in verification
  2. Wallet Evolution: Wallets will need to implement more sophisticated address validation mechanisms
  3. Transaction Verification: New verification standards will emerge, potentially incorporating blockchain analysis and reputation systems

Conclusion: Security as an Investment Criterion

The Spring Festival security handbook ultimately serves as a microcosm of the broader evolution of crypto security. What begins as seasonal advice quickly reveals itself as fundamental shifts in threat vectors that will permanently alter the investment landscape.

For experienced investors, this means security must move from being a checklist item to a core investment criterion. Projects with demonstrable security advantages—not just through audits but through architectural design—will likely outperform peers in the coming cycle.

The guide’s emphasis on personal responsibility (“users remain their primary responsibility and last line of defense”) is both empowering and sobering. As the industry matures, security will increasingly become a competitive differentiator, with investors rewarding those projects that prioritize protection as much as performance.

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