Seeing the truth, you realize how close the risks are!
The market won't remember your victories, only punish your negligence.
Behind every crash is a lesson of blood and fire!
🕳️ 01｜February 2014, Mt. Gox collapse in Mentougou
Keywords: the worst theft in history, Bitcoin fell 80%
The world's largest BTC exchange was hacked, 850,000 bitcoins vanished, directly accounting for 7% of the circulating supply at that time.
Bitcoin's price fell from thousands to three digits, directly halving twice, triggering a global trust crisis.
🚨 Lesson: Exchanges are not banks; it's better to hold assets on-chain than in exchanges.
🕳️ 02｜September 4, 2017, China bans ICOs
Keywords: policy raids, 80% market value evaporation
Regulatory hammer fell, ICOs were classified as illegal fundraising, the crypto market instantly collapsed.
Project teams ran away, investors liquidated, tokens went to zero; once hot coins became worthless overnight.
🚨 Lesson: Don't bet on policies, don't go all in on trends.
🕳️ 03｜March 12, 2020, 'Black Thursday'
Keywords: global financial panic, Ethereum dropped to $80
COVID panic + stock market circuit breaker + selling frenzy, ETH dropped from over $200 to $80 overnight.
On-chain gas fees skyrocketed, DEX trading paralyzed, countless contract liquidations.
🚨 Lesson: The crypto world is not a safe haven; during extreme conditions, 'locking up' is a joke.
🕳️ 04｜May 19, 2021, contract massacre
Keywords: 600,000 contract liquidations, 10 billion in liquidations
Bitcoin plummeted 30%, ETH dropped below 2500 in a day, 600,000 liquidations, blood flowed like a river.
How many people have been turned to ashes by the three knives of 'all in, averaging down, and locking up'.
🚨 Lesson: Contracts are financial weapons of mass destruction; if you don't understand risk control, you only deserve to be cannon fodder.
🕳️ 05｜May 2022, LUNA collapse
Keywords: algorithmic stablecoins, DeFi systemic crisis
UST de-pegged, LUNA fell from $100 to $0.0001, evaporating hundreds of billions in market value.
Chain explosions: Anchor, UST, LUNA, the DeFi ecosystem collectively sacrificed.
🚨 Lesson: The higher the returns, the fiercer the risks; the bigger the myth, the faster the disillusionment.
🕳️ 06｜November 2022, FTX collapse
Keywords: collapse of exchange faith, institutional panic
SBF transformed from 'the richest young man in the crypto world' to 'financial fraudster'; FTX user funds became a bottomless pit.
Chain reactions detonated giants like Genesis, BlockFi, Voyager, and Alameda.
🚨 Lesson: Even with TOP exchanges, don't put all your assets at stake.
📌 Summary: What you think is the 'bottom' may only be the starting point of the next avalanche
Every black swan event in the crypto world is the beginning of ordinary people's dreams of financial freedom shattering.
But it also serves as a wake-up call for us to continuously improve, stay calm, and evolve.
Remember: every time you see a zeroing out, the next time it could be you.
👀 How many black swan events have you experienced? Which wave left the deepest impression on you?
📍 Leave a message to share your story; it might help others avoid the same pitfalls!
📌 Click my avatar for continuous updates on the [Crypto Disaster Brief History] series, let's turn the mines we stepped on into amulets for the future!