On June 22, 2025, the calm of the cryptocurrency market was shattered by a thunderclap. The once-hot Origin Oladdin project collapsed, plunging 370,000 investors into a dire situation of locked-up funds, with a staggering $2 billion in capital bursting and dissipating like a bubble. This prolonged wealth trap, lasting 382 days, ultimately exposed its fraudulent nature under the clumsy excuse of a 'system upgrade.' Even before disaster struck, Oladdin had already shown many abnormalities. In March of this year, when the project's locked-up amount broke the astonishing $2 billion mark, danger signals began to flash frequently. Within just 72 hours, the top 50 wallet addresses crazily transferred out $230 million, with the core address 0x9c3... secretly moving $18 million USDT to a shell exchange in the Bahamas through 47 transactions. The so-called indestructible '1:1 backed USDT' reserve pool was, in fact, an unending pump, with newly injected funds merely serving as temporary patches to fill old holes. An in-depth investigation by the tech community unveiled a darker truth about Oladdin. Of its 137 smart contracts, as many as 82 were directly plagiarized from the infamous PlusToken scam of 2019. The remaining contracts were riddled with traps such as forged multi-signatures, backdoor addresses, and yield manipulation. The seemingly profound 'three explosion block algorithm' was merely a smokescreen to maintain the operation of the Ponzi scheme. As the inflow of funds gradually decreased, the yield plummeted from the initially enticing 1.2% to as low as 0.3%. Nevertheless, a large number of investors remained oblivious. Oladdin's marketing tactics could be described as peak artistry. The so-called 'global event' in Dubai had an actual attendance of fewer than 30 people, with the rest being hired actors at a daily wage of 420 yuan; collaboration documents with SWIFT Bank were all forged through Photoshop; the large screen advertisement in Times Square, New York, was merely a temporary display costing a few hundred dollars, yet it was bragged about as a symbol of recognition from NASDAQ. These meticulously woven lies successfully created a vast net of entrapment. The most heartbreaking aspect was the madness and blindness of the investors. Even after the withdrawal function was permanently shut down, 43% of VIP group members were still actively recruiting others. The phrase 'bring in two more people to unlock withdrawals' became a deadly bait, leading them to drag their friends and family into the abyss, staging real-life 'Ponzi tragedies.' The collapse of Oladdin perfectly replicated the five typical characteristics of a Ponzi scheme: promises of unreasonably high returns, a sense of urgency created by enforced lock-up, false authoritative endorsements, obfuscating technical jargon, and a pyramid-style referral commission mechanism. The evaporation of $2 billion and the despair of 370,000 families are no coincidence but rather a meticulously planned wealth harvesting scheme from the very beginning. In the tide of cryptocurrency, the downfall of Oladdin is just the tip of the iceberg. The temptation of wealth always exists, but please remember: any investment project that promises guaranteed profits and quick riches is very likely a carefully designed scam. Staying rational and avoiding temptation is the only way to safeguard wealth.