Key takeaways
Busy holiday seasons can make it easier to overlook basic safety measures, which may increase the risk of unauthorized access to cryptocurrency wallets.
Keeping hardware wallets physically secure and storing recovery phrases separately is one way to reduce the risk of unauthorized access to digital assets.
Taking time to verify every transaction, especially on a hardware wallet’s screen, can help prevent errors caused by malware or outdated transfer methods.
Limiting the amount of cryptocurrency stored on everyday devices and keeping wallet software and firmware up to date can help reduce potential losses during travel or busy periods.
Winter holidays often disrupt daily routines. They are a time of cozy fireplaces, last-minute gift runs and family and social gatherings. Amid these festive distractions, attention to digital security can slip. With focus shifting to planning and celebrations, it becomes easier to lower one’s guard.
As many crypto holders turn their attention toward family and holiday activities, malicious actors often increase their efforts, knowing that reduced vigilance creates opportunity.
This article outlines practical ways to reduce the risk of unauthorized access to crypto wallets during the holiday season.
Protect your keys and devices
The comforting atmosphere of home can sometimes lead people to overlook security, especially when guests are present or when attention is focused on holiday preparations.
If you use a hardware wallet, the first step is straightforward: Keep it securely stored. The device should be placed in a location where it cannot be easily accessed when not in use. The most critical security element, however, is the recovery phrase, also known as a seed phrase, as it functions as the master key to your funds.
According to Ledger, it is advisable to store the hardware device separately from the recovery phrase to improve resilience against theft or physical coercion: “Do not keep your recovery sheet in a safe at home. Not having immediate access to your backup increases your resilience to physical threats.”
If a wallet device is misplaced, damaged or stolen while travelling or spending time away from home, the recovery phrase is the only way to regain access to the associated assets.
Double-check every transaction, no exceptions
With holiday shopping, crypto gifts and end-of-year giving, many people make more crypto transfers than usual. A core safety practice when sending crypto is to carefully verify the recipient’s address. Malicious software can sometimes replace a copied address with a different one without the user noticing.
If you use a hardware wallet, it is important to physically verify the transaction details on the device itself, including the address, network and amount. Checking these details on the wallet’s screen helps ensure that the information shown on your computer or phone has not been altered by malware. The device screen serves as a trusted confirmation point, allowing you to approve only the transaction you intend.
Holiday gifts can also create the temptation to dip into long-term crypto savings or investments. If this involves a hardware wallet that has not been used in some time, it can be sensible to recheck service providers and transfer methods rather than relying on past habits.
Did you know? Using public WiFi at airports, cafés or hotels during peak travel periods can increase risks for crypto wallet users. These networks are often less secure, which can make it easier for attackers to intercept data, capture login credentials or attempt “man-in-the-middle” attacks while users access accounts or conduct transactions.
Be alert to phishing and social engineering
Lionsgate Network reported a 300% increase in holiday-related crypto scams during the 2025 holiday season, with fraudsters using urgency, impersonation and social engineering on platforms such as WhatsApp and Facebook. Scammers understand that many people are busy, distracted and more emotionally receptive during this period. They may send fake emails or messages posing as an exchange, a wallet provider, a crypto lottery or even a friend offering a so-called “crypto gift.”
During the holidays, scammers also increase the use of fake online shopping sites and advertisements promising unrealistic deals, often requiring payment in cryptocurrency. According to a Federal Trade Commission alert, if a seller insists that payment can only be made using a gift card, wire transfer, payment app or cryptocurrency, it is likely a scam.
As AI has advanced, scammers have gained access to more sophisticated tools. Deepfake technology, which uses synthetic video and audio to convincingly impersonate trusted figures such as crypto executives or celebrities, is an increasing threat. According to research from Bitget, SlowMist and Elliptic, deepfake-driven schemes accounted for roughly 40% of high-value crypto scams in 2024.
AI is also being used to produce highly convincing phishing emails, realistic fake websites and personalized scam messages that avoid common grammatical errors, making them more difficult to identify.
No legitimate wallet provider, exchange or support team will ask for a recovery phrase or private keys. Receiving an email, text message or pop-up that urges you to enter this information online for an “urgent update” or to “claim a prize” is a strong indicator of a potential scam.
Get your digital space ready for the new season
A practical way to reduce risk during busy travel periods or social seasons is to adopt a form of “digital minimalism” with crypto holdings. If you are travelling or expecting a particularly hectic few weeks, consider limiting the amount of cryptocurrency stored on devices you regularly carry, such as a mobile phone.
Keep the majority of assets stored securely and offline and retain only a smaller, necessary amount in a hot wallet for routine transactions or spending. This cautious approach helps ensure that even if a travel device is lost or compromised, core holdings remain protected.
Finally, the period before the holidays is an ideal time for proactive software maintenance. Wallet applications, hardware wallet firmware and computer operating systems should be updated well in advance of peak travel and social activity.