Digital virtual assets have become an important social wealth. However, the research on digital virtual asset protection is still at the exploratory stage at home and abroad, and the systematic basic theory research needs to be solved, especially the systematic research on basic mathematical model, security management and transaction, security threat management mechanism and so on. All these have become the trend and hotspot in the field of cyberspace digital virtual asset protection. In order to effectively deal with the severe challenge of digital virtual assets protection, the basic theory system of digital virtual assets protection, which includes the crypto-currency, digital copyright, network games and other network space digital virtual assets, is studied. The mathematical models of virtual assets, security management, threat perception and risk control are used to establish the basic theory and method for the protection of cyberspace digital virtual assets. Three key scientific problems of digital virtual assets protection, such as the mathematical representation of digital virtual assets, the safety and controllability of the application about digital virtual assets, and the research on the threat management and control of digital virtual assets are considered, and 1 basic mathematical model, 3 key technologies, and 1 set of prototype systems are proposed, which can be briefly described as the 1-3-1 plan. Through the research of digital virtual asset basic mathematical model, digital virtual asset security management and transaction technology, digital virtual asset security threat perception method and digital virtual asset dynamic risk control mechanism, the basic theory and method of digital virtual asset protection are given. Finally, a digital virtual asset security management and transaction prototype system is built to verify the correctness and reliability of the research results. The following five aspects of innovation are realized, which are the mathematical model of digital virtual assets based on algebraic theory, statistical analysis, non-distinguishable confusion, information hiding, all homomorphism encryption, lattice theory signature; the digital virtual asset safety management and transaction method based on new block chain, workload proof and swarm intelligence; the adaptive discovery method for security threats of digital virtual assets based on Immune Theory; the real-time quantitative calculation method of digital virtual assets security threat based on human body temperature risk warning mechanism; the dynamic risk control method for digital virtual assets based on the threat of network environment. Based on the above content, a theoretical research system of cyberspace digital virtual assets protection is constructed to solve the technical problems of the mathematical characterization of digital virtual assets, the safety and control ability of the application of digital virtual assets, and the threat management and control of digital virtual assets. This study is of great theoretical significance and wide application prospects for the protection of digital virtual assets in cyberspace, and the results have great significance to protect the national cyberspace security, to develop independent intellectual property rights and self-control rights of cyberspace digital virtual asset protection technology, and to break the technical blockade and monopoly against our country.