Abstract: This paper firstly gives the formalization description of both players strategies and payoffs in the mimicry honeypot game, and constructs the payoff matrix of the fraudulent game using non-cooperative and incomplete dynamic game theory. Then the equilibrium strategies and the equilibrium conditions are inferred. The equilibrium conditions and relative factors are discussed in detail, and the comparison to traditional honeypot is also performed. The theoretic analysis depicts the effective condition for protective coloration and warning coloration mechanism in the fraudulent game, and demonstrates that the mimicry honeypot has better activeness, efficiency and fraudulence than the traditional scheme.