"If I knew where I was going to die, I would never go there." - Charlie Munger

The market has been a little crazy recently, with the interest rate cut cycle, deregulation, Trump issuing coins, and BTC reaching new highs. Crypto has once again proven to be one of the best choices in this polarized era. Yes, as long as we stay out of the poker table, we will all be rich in the end. ——But the problem is, it’s too easy to get off the card table.

Half is flame, half is sea water. There are myths of getting rich every day in this industry, and there are also people who are in dire straits every day. Before the violent bull market begins, let us take a look at the different zeroing stories of our predecessors. We hope that everyone can protect their precious principal before the next big opportunity comes.

Wallet security

Private key lost: The paper backing up the private key was burned (Los Angeles fire ), the hard drive containing the wallet was thrown away (a British guy is still looking for his BTC in the garbage dump), the multi-signature threshold setting failed (a multi-signature address was lost/died suddenly, and was permanently locked)

Wallet stolen: private key leaked (put on network disk and hacked, copied and pasted at will), connected to phishing website, downloaded fake wallet APP with virus (Twitter, Telegram fraud), attacked by social engineering ( Be careful of those around you)

Operation errors

Coin deposit/withdrawal/coin transfer errors: Wrong currency for deposit and withdrawal, wrong chain, wrong address, test network, black hole address (cannot be saved by gods)

Market order critical hit: When a market order is accidentally touched, the transaction price is hit suddenly (a pin is inserted into the sky)

< p style="text-align: left;">Personal safety

Information leakage: leading to real life being followed or even threatened (especially by some big brothers who like to wear exchange T-shirts and pull exchange suitcases)

Emotional loss: Unable to control emotions after a large loss, making dangerous decisions (going downstairs to buy a pack of cigarettes, not taking the elevator or notTake the stairs)

Excessive overdraft: staying up late for a long time + poor work and rest, leading to serious health problems and even sudden death (rolling hair, sitting and beating the dog)

Trading investment

Contract liquidation: high times + carry orders + unlimited margin, all liquidated in one day (the final outcome of contract betting)

Gambler’s mentality: Trading is like gambling, just following the trend. After losing money, you are unwilling to stop the loss and keep buying the bottom, hoping to take off (copycat, Meme)

Error All in: Bet more than you can afford (borrowing money, buying a house, saving money) on a single currency or track (Luna)

Falling into a scam : Being cut off by air projects, land push disks, Pixiu disks, rat warehouses, and brainless trust in the project party (your opponent is the project party that issued the coins, what are you going to play with them?)

Exchange

Exchange storm: the exchange ran away, unable to withdraw cash (FTX)

< p style="text-align: left;">Withdrawal quilt: trigger exchange risk control, account is locked (large exchanges will also)

Withdrawal frozen card : Anti-money laundering is triggered, and the bank card is frozen (said to protect you)

U merchants run away: When you encounter unreliable U merchants, you run away with money (lost contact after transfer, and there are many offline OTC)

On-chain interaction

Contract vulnerabilities: The interactive project contracts have loopholes and are hacked (cross-chain bridge), attacked by flash loans, manipulated by oracles (lending), and maliciously authorized to empty the wallet

Clone website: front-end fraud, paid search engine advertising, fake domain name, fake customer service (Discord, Telegram)

Rug: disappear after receiving funds from pre-sale, or dump immediately after launch (the last word of the project team is never Rug)

MEV: Being jumped, trapped, and arbitraged (people cannot compete with technology)

Develop your own projects

Wrong direction: invest a lot of manpower and material resources to solve false needs, financing failure projects abort (Yuanverse, GameFi, Polkadot Ecosystem)< /p>

Compliance nightmare: troubled by different regulatory agencies and law enforcement (Multichain, offshore fishing)

There are countless ways to die. Have you heard any other versions of the story? Welcome to share. There is a thousand taels of gold behind the abyss. I wish you all not to step on any pit or leave the card table.