This is arguably one of the biggest on-chain crimes weโve ever seen
Billions of dollars wiped from traders wallets without blacklisted presale wallets inclusion yet
Scroll the comments and itโs all fake shock: โwtfโ, โwowโโฆ but no one dare call it what it is or hold anyone accountable. No one dare say they are scammers or call out the region until time to give remarks on that $10k and other little stolen amounts from bad Asian actors and plebs from Africa
No questions asked. No consequences. Execution was flawless and letโs be honest this likely never gets anywhere near SEC scrutiny
Hypocrisy like this does crypto no favors
Make Crypto Great Again
๐๐ ๐ฒ๐จ๐ฎ๐ซ'๐ ๐๐ญ๐ซ๐ฎ๐ ๐ ๐ฅ๐ข๐ง๐ ๐ญ๐จ ๐ฆ๐๐ค๐ ๐๐ง๐ ๐๐๐๐ ๐ฆ๐จ๐ง๐๐ฒ ๐จ๐ซ ๐ฒ๐จ๐ฎ๐ฏ'๐ ๐ฆ๐๐๐ ๐ ๐ฅ๐จ๐ญ ๐จ๐ ๐ฆ๐จ๐ง๐๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ญ ๐ฅ๐จ๐ฌ๐ญ ๐ข๐ญ ๐๐ฅ๐ฅ, Read this ๐
Is it possible for someone with a Networth of $400m to become bankrupt and even end up in millions of debt?
To many, even a million dollars is life changing money if utilized properly, and Rightly so. But, this is exactly what happened to a renowned boxer, Mike Tyson.
A Little Backstory...
In the late 90's, Tyson had an estimated networth of $400m due to his highly successful boxing career & as one would guess, he spent millions acquiring luxury; houses, cars, and even a $2million worth bathub!
Fastforward to 2003, this once ultra-wealthy athlete was bankrupt and up to -$23m in debt.
This shows a fundamental fact about money and wealth:
"Making money and ''keeping" it are two entirely different things".
This thread will help you to avoid making the same mistakes as mike did, drawing 5 Sancrosanct lessons from the book: ๐ป๐๐ ๐ท๐๐๐๐๐๐๐๐๐ ๐๐ ๐ด๐๐๐๐.
Let's Dive Right in.
1โฃ ๐ฌ๐ผ๐ ๐ฎ๐ฟ๐ฒ ๐ป๐ผ๐ ๐ณ๐๐น๐น๐ ๐ถ๐ป ๐๐ผ๐ป๐๐ฟ๐ผ๐น.
We like to believe that the rate of our hardwork is directly relational to the rate of success we attain. That isn't the reality. Instead, Luck and Risk play a huge role in any success story.
Consider the story of Bill Gates; in high school, he had a best friend called kent Evans, They were both smart and dreat of builing world changing technology when they grew up. Sadly though, kent Evans died in a tragic accident while still in high school and thats where the story ended for him....
Bill Gates was also fortunate to go to one of the very few high schools that had a computer in the 1960's, and at a time when computers were very. rare, this incident must have given him a headstart over his contemporaries.
Don't get me wrong,No doubt Bill gates is a genius and worked very hard to deserve his accomplishments but you'll agree with me that life wouldv'e been very different for him if he were born in an underdeveloped country, maybe in Africa.
๐ง๐๐ ๐ฃ๐ข๐๐ก๐ง: You cannot expect to exactly copy a Successful person and become successful like them too and the reason is that invisible factors, such as luck, timing/The right connections play a huge role in success. Success is never 100% skill game, luck and risk can affect us in ways we do not Predict.
2โฃ๐๐ฒ๐๐๐ถ๐ป๐ด ๐ช๐ฒ๐ฎ๐น๐๐ต๐ ๐ถ๐ ๐ฑ๐ถ๐ณ๐ณ๐ฒ๐ฟ๐ฒ๐ป๐ ๐ณ๐ฟ๐ผ๐บ ๐๐๐ฎ๐๐ถ๐ป๐ด ๐ช๐ฒ๐ฎ๐น๐๐ต๐
The past and present is filled with so many Celebrities, athletes, investors & even web3 Traders who were once rich but are now entirely Bankrupt. Even some so- called professional traders and investors have moved from Filthy rich to being dead broke. The Reason;
"Getting Wealthy involves taking Risk,
Staying Wealthy involves Avoiding Risk.
As a degen, investor, or trader starting off, you will need to take some calculated Risks to hit a big break. However, when you do hit a fairly big Win, Take profits and avoid the Greedy and deadly move of Re- investing all solid profits into the same volatile system(s). Instead, diversify and invest profits into Non/less-volatile initiatives like Real estate, Agriculture and other ventures.
Remember Sam BankmanFried, the owner of FTX? At one point he was worth over $26 billion from his very successful product. However he got greedy, Took huge risks, over-leveraged and we all know what happened; the FTXcrash, he lost his PF and even got arrested.
๐ง๐๐ ๐ฃ๐ข๐๐ก๐ง. Take calculated Risks when necessary, but always play the long and safe game, don't be a james Wynn.
3โฃ ๐๐ผ๐ป'๐ ๐ฆ๐ฎ๐๐ฒ ๐ ๐ผ๐ป๐ฒ๐ ๐๐ผ ๐ฏ๐๐ ๐๐ถ๐ฎ๐ฏ๐ถ๐น๐ถ๐๐ถ๐ฒ๐ ๐๐ฎ๐๐ฒ๐ฟ.
"Save for the rainy day" is a term we're all familiar with, but imagine saving up all your profits, for months or years even to spend it all on a car, or a luxury item, and on the same day becoming bankrupt again.
Instead, save in a way that allows you to have more Freedom. By all means enjoy your money and buy things that make you happy, but don't just spend all your savings doing so.
The ideal dream is to save in way/invest in a way that gives you long term freedom,Allowing You Survive without necessarily relying on any job. Yes, that kind of freedom.
4โฃ ๐ช๐ฒ๐ฎ๐น๐๐ต ๐ถ๐ ๐๐ต๐ฎ๐ ๐๐ผ๐ ๐ฑ๐ผ ๐ป๐ผ๐ ๐๐ฒ๐ฒ.
Build Wealth, don't Flex wealth. Wealth is what you don't spend that gives you more leverage to enjoy your money at a letter time, even if peopl don't see it now.
Again, When you make money, by all means enjoy it and improve the quality of your life but don't be in the business of spending just to show off or Impress others, its bad business.
๐ณ๐๐๐๐๐๐ ๐น๐๐๐ ๐๐๐ ๐๐๐๐๐ ๐น๐๐๐ ๐๐๐ 2 ๐๐๐๐๐๐๐๐ ๐ ๐๐๐๐๐๐๐๐ ๐๐๐๐๐๐.
5โฃ The Truth about Emotions.
Finally, do Keep in mind that no matter how logical your plan is, make sure it is also Reasonable. Limit Emotional involvements in financial decisions.
Don't overinvest because an asset checks out 100%, always have a Reserve to fall back to incase there's a downturn in your investments. Don't go all in. Behind every screenshot of 100x,1000x e.t.c are several losses & failed attempts. Moreover, different things work for dofferent people, be reasonable, buy yourself some more time in the game.
Speed is easy but sustainability takes patience.
Donโt rush, build properly.
But donโt move so slow you miss momentum.
Donโt confuse patience with hesitation.
Gm friends.
Most DeFi protocols donโt fail because the tech is bad.
They fail because the system around the tech is weak.
This took me years (and losses) to fully understand.
At launch, everything looks perfect, incentives are juicy, users are early, charts go up, community feels strong and everything seems โperfectโ.
Then time passes.
And time is where most protocols get exposed.
Hereโs the uncomfortable truth ๐
โข Growth hides bad incentives.
Early traction often comes from emissions, not real demand. People arenโt using the protocol because they need it, theyโre there because theyโre paid to stay.
Once rewards taper, you notice liquidity starts to leave, volume dries up, even the strong community goes silent.
If usage disappears when incentives drop, it was never real usage.
โข PMF does not mean sustainability.
Productโmarket fit just means someone wants this right now.
It doesnโt mean the protocol can survive stress, volatility, or competition.
Many teams mistake early adoption for long term relevance.
Markets donโt reward novelty forever, they reward resilience.
โข Token design is often an afterthought
The protocol works, the app is smooth.
But the token?
Inflationary, no real sink and no reason to hold beyond farming.
A token without structural demand becomes a liability, not an asset.
โข Teams optimize for narratives, not systems
You see words like, โFirst of its kind.โ โNext-gen.โ
โRevolutionaryโ, being thrown into almost every project.
But strong protocols arenโt built on hype, theyโre built on boring fundamentals, clear value that capture, sustainable economics, simple and robust design.
With these most protocols collapse when attention moves elsewhere.
DeFi rewards patience, alignment, and discipline.
It punishes shortcuts.
If youโre building, design for the bear market.
If youโre investing, study incentives, not vibes.
Survivors donโt look flashy early, they look inevitable over time.
Thatโs the difference.
a) Fundamental Analysis.. (what News, rumours,insider info do you have?, is it in a speculative or trending narrative? e.t.c)
b) Technical Analysis. (support and resistance, is it oversold or overbought? E.t.c)
c) Sentimental Analysis (what's your mind telling you? What are you feeling? Is your conviction solid or not? E.t.c)
If any token you are holding can ace these analysis, you're most likely holding a runner.