The Life-and-Death Tribulations of Crypto Veterans: Surviving These Six Tempests Is True Skill!
Lessons are more valuable than experience; how many of these pitfalls have you avoided?
1. The Shocking Heist in Mentougou, February 2014
Who was the boss of the Bitcoin world back then? It had to be MT.GOX! Who would have thought that this giant exchange would be mercilessly stabbed by hackers, with 850,000 Bitcoins vanishing, accounting for nearly 7% of the world's total at that time! Once the news broke, the market was completely stunned, and Bitcoin prices plummeted, shrinking by 80% in an instant.
2. The Storm of September 4th, 2017
In the bull market of 2017, how many people made a fortune? But just as the celebration was in full swing, a blow from regulation changed everything in the market. In just a few days, the total market value of the entire crypto space evaporated by 80%, like a balloon that had been popped! How many people saw their account balances shrink before their eyes?
3. The Arrival of 'Black Thursday', March 12, 2020
With the global financial markets crying out in despair, how could the crypto world be unaffected? That March was simply suffocating. Ethereum, a star that many had high hopes for, saw its price crash through the floor, plunging below $80. The market's irrationality and fragility were laid bare for all to see.
4. The Horrifying Night of '5.19', May 19, 2021
Leverage is mightier than a tiger! That night became a nightmare for countless contract players. This tragedy served as a bloody warning: contracts are a double-edged sword; if you play well, you might reach the heavens, but if you mess up, you're definitely going underground. Risk control must always be the top priority!
5. The Collapse of the LUNA Empire, May 2022
The once-thriving LUNA and its algorithmic stablecoin UST nearly went to zero overnight! This 'black swan' event not only left countless investors with nothing but losses but also shook the foundations of decentralized finance (DeFi) to its core.
6. The Fall of the FTX Dynasty, November 2022
Who could have imagined that the top exchange of industry giants, FTX, would suddenly collapse? Users couldn't withdraw their money, the foundation of trust crumbled in an instant, dragging the entire crypto space into a frozen abyss.
The story of the crypto world is far from over; new chapters are being written every day. With these lessons learned through hard-earned money, we can stand firmer and go further in the next wave!
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