Having been involved in the crypto market for eight years, I want to share some honest thoughts: compared to market fluctuations themselves, what truly makes ordinary players afraid even in their dreams are the hidden risks lurking in the shadows.

Staying up late monitoring prices, chasing volatility, resisting drawdowns, calculating entry points—yet all the hard-earned profits can be turned into a "cash machine" for hackers in an instant, with a few core chips evaporating immediately. One way to describe this feeling is: we work busy like laborers, while others just move a finger and enjoy the gains.

You might think that being hacked is purely bad luck, but my eight years of observation tell me: about 80% of losses actually stem from your own security vulnerabilities. Today’s hackers are no longer just code-writing tech geeks; they are sophisticated "compound offenders" skilled in psychological warfare and exploiting vulnerabilities, specifically targeting retail investors’ negligence.

**Here are the most common pitfalls, all lessons learned through blood and tears:**

**First Pitfall: Storage of Mnemonic Phrases and Private Keys**

These two items are your proof of ownership of digital assets. Many people store them in cloud notes or phone albums for convenience, thinking it’s their own device anyway. Wrong. These seemingly safe places are exactly where malicious programs love to strike.

Last year, data showed that nearly 30% of theft cases were directly caused by mnemonic phrases stored in the cloud being cracked. What’s the correct approach? Write them down on a metal plate and hide it somewhere more discreet than your bank card. Never share with anyone—no exceptions. Remember: legitimate platforms will never ask for your private key proactively; anyone who does is a scammer.

**Second Pitfall: Fake Platforms and Malicious Authorization**

Hackers often impersonate legitimate trading pages or wallet apps, designing the UI to look identical. If you’re not careful, you might log into a fake website. Especially links from search engines or unknown sources—think twice.

There’s also a covert tactic called "malicious authorization." If you click a link and authorize a contract, hackers can continuously transfer funds from your wallet through that authorization. In this case, your private key isn’t leaked, but your assets can still be stolen.

**Third Pitfall: Weak Passwords and Account Linking**

Don’t set passwords based on birthdays, phone numbers, or similar info. Use a password manager—your best friend. If your email account gets hacked or your phone number is registered on other platforms, these issues can become entry points for your crypto assets.

**Fourth Pitfall: Phishing Messages and Fake Customer Service**

Receiving messages claiming your account is abnormal and needs verification, or offers for airdrops requiring identity confirmation? Delete immediately. Hackers rely on these tactics to trick you into filling out forms or entering passwords. Genuine platform customer service will never reach out to you on Discord or Telegram proactively.

So, instead of complaining about bad luck in the market, it’s better to strengthen your defenses first. Regularly review authorizations, update passwords, verify links’ authenticity—doing these basics can significantly boost your asset security.

The crypto market is full of opportunities and risks. Knowing the market is one thing; knowing how to protect yourself is another. Master both, and you’ll be able to navigate this space more steadily.