If you happen to catch Liangxi's live stream at three in the morning, you'll likely see this magical scene: this 23-year-old Shandong guy coughing violently, hoarsely shouting that all exchanges are vampires, suddenly a knock is heard off-screen, and he tells 75,000 online viewers that Uncle Hat is here, abruptly ending the stream. Reportedly, he has been taken away for questioning multiple times recently. Of course, you'll have to verify if that's true, because he knows how to play the game.

Source: Feng Baobao is Baking Sweet Potatoes.

This young man who lives his life as a real-life version of The Wolf of Wall Street recently dropped a deep-water bomb in the crypto world: on April 9, he posted a screenshot of a single-day profit of 25.04 million yuan, only to lose 12.5 million the next day; he had just transferred 400,000 yuan to a cancer patient before being exposed for owing an exchange 8 million USDT in collateral. While onlookers debated whether Liangxi was mentally ill, he had already declared in the live stream: Zhao Changpeng is the dog of the Federal Reserve! This terrified Binance founder CZ into clarifying on Twitter that night.

One, The Death Bungee Jump of the Leverage Maniac: From Heaven to Hell in Just 24 Hours.


To me, the renminbi is just like joy beans; liquidation? You get used to it after a while. On February 24 of this year, when Bitcoin plummeted to 86,000 USD, Liangxi played a deadly roll with 2000 USD principal: shorting ETH with 50x leverage, operating every 3 minutes, conducting over 500 trades within 24 hours, and just as the plunge was ending, he reversed to go long, raking in 1 million USDT (approximately 7 million yuan) in a single day. This once insane gambler, who lost 1.3 billion due to 100x leverage, staged yet another crypto version of The Count of Monte Cristo.

However, the thrill of Liangxi's roller coaster far exceeds everyone's imagination. On the afternoon of April 9, he dropped a profit screenshot in the WeChat group: BTC 50x short with a floating profit of 25.04 million yuan, captioned 'Liang Family Members, Rise Up!'. The group exploded with thousands of cheers for the return of the war god. However, 24 hours later, this man who once boasted of being a master at hitting the peaks was caught off guard by a sudden bullish candle, losing 12.5 million profit in an instant, equivalent to evaporating 8,680 yuan per minute.

While trading, he seemed to be playing a real-life version of Squid Game, facing frequent liquidation warnings, and every time he would manually cancel orders just 0.5 seconds before liquidation, with a speed as fast as an AI robot. This kind of risky operation led Liangxi's account to experience 17 instances of million-level volatility over the past three months; in the most outrageous case, he went from losing 6 million in the morning to making 12 million by 3 PM, during which he drank six cans of Red Bull and finished two packs of Zhonghua cigarettes.

Two, Abstract Performance Art Award: Drinking Pesticide, Taking Transgender Drugs, Live Streaming Drama.

If Liangxi is a crazy gambling addict on the trading floor, then on social media, he is definitely a traffic genius. The infamous pesticide live stream in September 2023 still sends chills down people's spines: in front of the camera, his eyes were bloodshot; after reading a complaint, he tilted his head and drank pesticide, shocking the platform into an emergency ban. Later, it was revealed that the bottle contained iced red tea, and he retorted boldly: If I really drank to death, what the hell would you be watching!

His operation in March this year left people astonished. In the early hours of the 13th, he suddenly tweeted that he started taking transgender medication: I vomited bile, but thinking that I would no longer be attracted to women, I can finally focus on trading coins. The accompanying picture showed boxes of estrogen scattered all over the floor. This tweet sparked 32,000 discussions online, and medical bloggers calculated that the amount of estrogen he consumed in two days was equivalent to the normal dose for three months.

However, Liangxi always manages to turn these controversies into traffic secrets. The epic live stream on April 15 was a pinnacle of performance art: before starting, he generously distributed five 10,000 yuan red envelopes, claiming he would donate 50,000 yuan to impoverished households; 20 minutes into the broadcast, 75,000 people flooded in, just as he was about to expose the dark side of exchanges, a sudden knocking sound came from off-screen. As the camera shook violently, viewers heard him cough and say he would cooperate with the investigation, and the live stream went black—this million-dollar live stream ended with Liangxi being taken away.

I can only say that what he says cannot be trusted; some of it is too fake, purely for gaining traffic.

Three, Fire and Ice: Donating Money for Charity While Being Blocked by Creditors at the Door.

This young man, who has abstracted life into his DNA, did something serious this spring. On March 10, he came across a cancer patient's plea for help and the next day sent an assistant with 400,000 cash to Shanghai Ruijin Hospital. This is the medical expense reimbursement certificate; I will cover all subsequent treatment costs, and once my sister-in-law's illness is cured, I will take them to the Maldives for recuperation. The transfer record Liangxi shared, along with a photo of the recipient's wife curled up on the hospital bed, broke the hearts of countless netizens.

But the halo of charity cannot hide the shadow of enormous debt. On April 16, a creditor shared a loan receipt on a live stream: I lent him 2 million USDT in 2021, and now he owes me 30 million with interest! More dramatically, that night, three creditors appeared on Liangxi's Space live stream to demand repayment. He promised to pay back 5 million next month but then sent a voice message in the fan group: I still have 20 million USDT in my account, but I want to drag this out to infuriate those bastards!

This split-level operation is incomprehensible even to seasoned cryptocurrency insiders. A blogger who had a public feud with him, Crypto Knight, complained that last week he saw Liangxi donate 36,000 to disabled people and thought it was quite manly, only to discover the next day that he had used the same transaction screenshot to fabricate three versions. This operation is more outrageous than the projects by lowly dog teams.

Four, The Dark Forest Law of the Cryptocurrency World: When Gamblers Become Kings of Traffic.

Liangxi's rise is essentially a dark history of the grassroots players in the cryptocurrency world. This Shandong guy, who became a national-level swimming athlete at the age of 10, probably never expected that when he was sent to a school to cure internet addiction at 17, he would later become the Kardashian of the crypto world controlling millions of traffic.

His killer skill is accurately tapping into the emotions of each era:

2018 Bear Market: Coping with Rights Protection Like the First Generation Rights Defender Yang Chao, by Drinking Pesticide.

2021 Bull Market: Turning 1000 Yuan into 40 Million, Reaping the First Batch of Liang Family Members.

2023 Debt Crisis: Revealing a Debt of 130 Million to Create the Most Miserable Trader Persona on the Internet

2025 Regulatory Storm: Attacking CZ and Exchanges, Packaging Himself as the Savior of Retail Investors.

Now he plays high-level psychological warfare; when everyone thinks he is about to crash, he shows profit screenshots; when people start to idolize him, he immediately exposes his dark secrets. This kind of back-and-forth can increase traffic stickiness by 300%.

Five, Survivor Bias or Industry Curse?

Liangxi has survived until now thanks to the heavens. Last year, he opened a 100x leverage position, with the liquidation price only 0.3 USDT away from the market price; this kind of luck is not something ordinary people can replicate.

His high-frequency operations seem like suicide to many. His trading success rate has only been 43% over the past three months; any profits rely on position management and emotional control, even though his emotions seem completely out of control.

A doctor revealed that this child exhibits obvious signs of bipolar disorder, with manic phases daring to bet his entire fortune, and depressive phases leading to self-destructive tendencies. He should seek professional treatment as soon as possible, rather than continue shouting in live streams.

Six, When Myths Meet Reality: Behind Every Liangxi Stand 1,000 Ordinary People Who Have Been Liquidated.

In Liangxi's latest pinned tweet, he wrote: I know you call me a gambling dog, but which of those who mock me has not secretly opened leverage in the middle of the night? This statement exposes the bloodiest truth of the cryptocurrency world: 99% of retail investors are repeating Liangxi's gambler logic, but 99.9% of them have already been liquidated and left the market.

Looking back at his recent operations is like watching a survival story in the crypto world.

February 24: Precisely shorted Bitcoin during the crash, profit screenshot of 1 million USDT went viral.

March 15: High-profile display of a 400,000 charitable transfer, but discovered to have used the same image to fabricate three versions.

April 9: 25.04 million profit tops the trending searches, the next day a loss of 12.5 million triggers ridicule.

April 15: Live stream accusing CZ of colluding with the Federal Reserve to harvest retail investors, witnessed by 75,000 people in the live stream as he was taken away.

Liangxi is not the first cryptocurrency maniac, nor will he be the last. The reason his story is so compelling is that we see our own greed and fear reflected in him. But remember: when you're tempted by headlines about making tens of millions in a single day, perhaps you should visit the Chinese Execution Information Disclosure Network, input the name Geng Zhiyu, and see if he has paid off his debts. This is more real and effective than just talking.