The Vice Director of a State-Owned Enterprise Is Obsessed with Cryptocurrency Trading, Racking Up 3 Million in Debt and Losing His Family (Part One)
Open Crypto Twitter, and you'll always see those boasting about having assets exceeding eight digits, the crypto experts who make a fortune on a single contract.
Whether it's filters or real strength, achieving great results in the crypto world is not a stroke of luck that belongs to every ordinary person.
Recently, the author has captured the story of a man who was once the vice director of a state-owned coal washing plant in Handan, Hebei, and has now fallen into debt of 3 million due to cryptocurrency trading losses.
Peeling back the glamorous illusion of sudden wealth, this is the true story of an ordinary trader constrained by information asymmetry and trapped by greed.
01 From Director to Debt and Driving for Ride-Hailing
As the original interview did not mention the protagonist's specific name, the interviewee's Bilibili ID is "Zheli Chongsheng"; the following text will refer to him as Brother Chongsheng.
Once, Brother Chongsheng's life was enviable.
According to what he revealed in front of the camera, he was the vice director of a coal washing plant at a state-owned enterprise in Handan, Hebei, with a post-tax monthly salary of 9,000 yuan, living in a house with no mortgage, driving an Audi, managing 20-30 people, and holding a deputy section chief title that brought him respect from others.
In 2018, Brother Chongsheng married his wife, and they have a happy family with a five-year-old daughter.
"We can be considered a moderately well-off family… better off than some, but not as good as others," he reminisced, his tone carrying a distant warmth.
At that time, he took his daughter to visit Shandong and Zhengzhou, practicing the concept of “raising a daughter well,” and his parents' retirement pensions put the family under no economic pressure. Such a life was as stable as a rock, and it was hard to find any signs of collapse.
At the beginning of the video, Brother Chongsheng displayed various loan app interfaces and his debt situation on his phone, revealing that he owed over 100,000 yuan on one app, and cryptocurrency trading had led him to a total loss of 3 million, constantly striving to pay off the high loans.
Now he drives for ride-hailing for 13-14 hours a day, with a turnover of 300 yuan; after deducting car rental and living expenses, he is left with only 100 yuan. Renting a 600 yuan/month single room with a private bathroom is his last bit of dignity.
Millions in debt follow him like a shadow, with annual interest of 200,000 to 300,000 yuan, most loans already overdue, and debt collection calls ringing incessantly.