At 3 AM on February 25, 2025, the cryptocurrency world exploded!
Liangxi posted two screenshots on Twitter: two exchange balance screenshots totaling over $1.1 million. This 'contract madman' who once owed $200 million due to liquidation and was sent to a psychiatric hospital turned $2,000 into 550 times within 48 hours, once again staging a 'digital miracle'. But this time, the cryptocurrency world did not cheer; instead, they collectively gasped — his story revealed the bloodiest survival rules of the cryptocurrency world.
1. 18 Years of Deification: The 'Contract Monster' born from the 519 crash.
On May 19, 2021, Bitcoin plunged from $64,000 to $32,000, with over 800,000 people liquidated across the network, blood flowing like a river.
However, Liangxi deified himself in this disaster: He used 1,000 yuan from his father's bank card, opened 100x leverage to short wildly, trading 200 times a day, averaging a bet every 5 minutes. A month later, his account balance exceeded 40 million, and he roared in the live room: 'The cryptocurrency world is a casino, and I am the dealer!'
Behind the madness are hellish operations:
High-frequency rolling: Immediately closing positions after each profit, then using profits to increase positions, rolling the leverage up to 200 times;
Emotional manipulation: Posting on Weibo that 'Bitcoin will definitely break $20,000', inciting retail investors to short, while secretly reducing positions;
Gambler's mentality: 'I only sleep 3 hours a day, eyes red from staring at K-lines, selling the house if I lose, buying an island if I win.'
2. From Paradise to Abyss: The 'Zero Master' after 2,000 liquidations.
In December 2021, Bitcoin rebounded to $68,000, marking the beginning of Liangxi's nightmare.
He insisted on the judgment that 'the bear market is not over', using 100x leverage to go long against the trend, resulting in 23 consecutive liquidations, and his assets went to zero. Even more absurdly, he borrowed $20 million from fans promising '50% monthly interest', but lost it all within a week, even sparking rumors of 'having his girlfriend repay the debt with her body'.
Under the avalanche of debt, Liangxi is completely out of control:
Trip to the psychiatric hospital: His father bound him to a psychiatric hospital due to asset disputes, and he posted a video on Twitter accusing of 'being electroshocked';
Suicide attempt: In 2023 he drank pesticide and was rescued, live streaming while cutting his wrist, shouting 'living is worse than dying';
Brick moving on construction sites: In 2024 he was exposed carrying cement on a construction site in Shenzhen, earning 200 yuan a day, self-mockingly calling himself 'the Contract War God turned brick-moving War God'.
3. Counterattack in 2025: 60x leverage 'bloodbath in the contract market'.
In February 2025, Liangxi returned with a 'revenge script'.
He accurately captured the signal of ETH's crash:
60x leverage shorting: Building a position when ETH dropped to $1,400, combined with high-frequency 'flash closing', profiting $2 million in a single day;
Double kill: When the market rebounds, going long on BTC, locking in profits with a hedging strategy;
Community manipulation: On X, shouting 'ETH must break $1,000', inducing retail investors to follow the trend while quietly taking profits.
Behind this counterattack is a more insane calculation:
Ponzi scheme tactics: Issuing 'LIANG coins', promising 'dividends for holders', but actually using new investors' funds to fill old debts;
Emotional harvesting: Intentionally breaking phones and cursing during live broadcasts to create the persona of 'betting everything', attracting retail investors to follow suit;
Leverage trap: Using 'dynamic margin adjustments' technology to transfer liquidation risks to opponents.
4. The Liangxi Phenomenon: The ultimate metaphor of the 'Gambler Ecology' in the cryptocurrency world.
His story reveals the harshest truth of the cryptocurrency world:
Leverage is the devil: Liangxi's 30 million gains in 2021 could be wiped out with just a 3% reverse fluctuation;
Contracts are casinos: Exchanges make money through 'liquidation fees', and the volatility of Liangxi's concept coins is essentially a tool for capital to harvest retail investors;
Traffic is like a sickle: Sun Yuchen funded him with $50,000, and Huobi drove traffic to his live broadcast room, aiming to attract new retail investors with the 'War God IP'.
What’s scarier is that Liangxi-style tragedies are being replicated in bulk:
In the first quarter of 2025, over 2 million new contract users entered the cryptocurrency world, with 70% being young people aged 18-25;
Data from a certain platform shows that the average survival time of contract traders is only 45 days, with 90% ultimately liquidating and leaving;
In Liangxi's fan group, someone posts screenshots daily of 'selling a house to go all in' and 'leveraging online loans'.
5. The ultimate revelation for retail investors: Staying away from leverage is the real 'survival rule'.
Liangxi's Twitter signature reads: 'I know this is a dead end, but I can't stop.' This may be the most profound interpretation of contract gambling.
How can ordinary people break the deadlock?
Build passive income with the '333 allocation method': 30% funds in POS staking (such as ETH annualized 5.2%), 30% participating in DeFi lending (such as USDC annualized 4%), 30% in mainstream coins through regular investment, and the remaining 10% kept for emergencies;
Beware of the 'War God' persona: True experts do not show their trades; Liangxi's 'counterattack' essentially means 'using new investors' money to pay old debts'.
Treat contracts as entertainment: try with no more than 1% of total assets, consider losing it as a lesson learned, and never go all in.
The crypto world has never been a paradise for getting rich quickly, but a hellish battlefield of human nature.
Liangxi's story teaches us: In the leveraged gambling game, no one can 'survive by licking blood' forever. The true wisdom of survival is not to replicate the madness of the 'War God', but to be rational when others are greedy and fearful when others are scared — this may be the ultimate 'anti-fragile' ability in the cryptocurrency world.
