The feelings of recovering the loss leads to the liquidation of your account. Take your remains from the Future trading wallet and trade in spot if you want to eliminate the risk of Liquidation of your account. There is a lot of manipulation in the market š« which ultimately leads to the losses and finally eliminates you from the market. A less loss is better than a big loss. This is actually what happened to me yesterday. I tried to recover my losses but Alas!
Greedy man! Killed the golden goose and now will rot in prison!
David futures
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šØ Thodex Collapse: The $2 Billion Crypto Scam! š¹š·šø Imagine logging into your crypto app and finding⦠nothing. Thatās what happened to 400,000 users of Turkeyās largest crypto exchange, Thodex. The company disappeared overnight, along with $2 billion of investorsā money. š
What Happened?
Faruk Fatih Ćzer, the CEO of Thodex, shut down the exchange suddenly and fled the country. For months, he avoided capture, but in 2024, he was arrested in Albania. This year, he was sentenced to an insane 11,196 years in prison.
š Joke: Looks like heāll have plenty of time to think about his mistakes⦠for the next 11,000 years!
Why This Matters
Thodex seemed like a safe exchange, but it turned out to be a scam. People trusted it and lost everything. This is a big warning for everyone in crypto: not all platforms are safe.
How to Stay Safe
1ļøā£ Do your research before using any exchange. 2ļøā£ Donāt keep all your funds on one platformāuse a secure wallet. 3ļøā£ Be careful with ātoo good to be trueā offers.
Final Thoughts
The Thodex scam is a lesson for all of us. Always stay cautious in the crypto world, and protect your money like itās gold. Stay safe and trade smart! šŖāØ
šØ Lessons from Losing $6.5k in Futures Trading š„²šŖ
Today, I lost around $6,500 USD from my futures wallet.
Itās definitely painful, but instead of dwelling on the loss, Iām reflecting on what I can learn from it. Losing this amount is like paying for an expensive courseāexcept this time, the lesson came through experience.
Here are my key takeaways:
1. Never Be Too Greedy. It sounds obvious, right? I thought I understood it before, but now I feel it. Greed blinds rational thinking and often leads to bad decisions.
2. Money Is Not Everything. We all know this in theory, but experiencing a significant financial loss puts things into perspective. Money can be earned back, but time, health, and relationships are far more valuable.
3. Stick to Bitcoin. If I had only invested in Bitcoin and avoided chasing altcoins or speculative futures trades, Iād have three times more money today. Consistency beats risky experiments.
4. No One Can Predict the Future. Thinking I could outsmart the market was foolish. Markets are unpredictable, and even the best traders rely on probabilities, not certainties.
5. Focus on Building a Business, Not Watching Charts. The time I spent glued to screens was just like binge-watching Netflix or scrolling Instagramāunproductive and costly. The best investment I can make is in my business, where I have control and can create real value.
Final Thought: Let money work for you, not the other way around. This experience was expensive, but the lessons Iāve gained are priceless. Hereās to smarter decisions moving forward! šŖ