2025-12-06 13:22:43

Over the years, has there ever been a major shake-up in the crypto market that didn’t leave bodies everywhere?

Newcomers dream of “getting rich overnight” as soon as they enter the space. Seasoned veterans have already seen through it all—this game never plays by the rules. One careless move and your account gets wiped out.

In 2014, Mt.Gox was hacked and 850,000 BTC vanished into thin air. Investors around the world panicked and dumped their holdings—no one was spared.

In 2017, the “94” policy hit, wiping out 80% of market value overnight. Blindly going all-in meant blind losses, with liquidation announcements flooding the screens non-stop.

In 2020, the “312” black swan struck, with ETH crashing below $80. Countless accounts went to zero in an instant, cries everywhere.

In 2021, the “519” contract massacre saw more than 600,000 accounts liquidated in a single day. High-leverage players? Wiped out.

In 2022, LUNA collapsed. The so-called “algorithmic stablecoin miracle” turned into just a string of code in the blink of an eye.

Early 2025, a major drop in US stocks triggered a domino effect, causing the entire crypto market to plunge. Those who tried to catch the bottom? All ended up as bag holders.

The FTX blow-up was even nastier—one of the leading exchanges collapsed overnight, user funds evaporated instantly. Years of savings, gone in a flash for so many people.

These aren’t just stories from history. They’re lessons paid for with hard cash!

Whenever the market warms up a bit, some people start getting cocky. Right now, coins like SUI, BONK, PEPE, OM, SOL, and PNUT are all being hyped up. But you need to understand: those who actually make a comeback on these are always the very few; those who get out unscathed are even rarer.

This isn’t hindsight. I’ve just seen it too many times—right before a black swan event, the market is eerily calm.

Bottom line: If you don’t take the initiative to recognize the risks, I can’t hold you back. But if you wake up and want to take things slow and steady, we can still walk this path together.

BTC-0.78%

ETH-1.08%

LUNA-4.37%

SUI-1.51%

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ETHmaxi_NoFilter

· 2025-12-08 17:27

Starting to talk about the past again. During the 3/12 crash, I got liquidated for 300,000. I still remember how badly my hands were shaking that day. Honestly, no matter how hot these small coins get, it’s useless—90% of people still end up losing money. The FTX incident left me speechless. Even top platforms can collapse, so who can still claim their funds are safe... Actually, the worst part isn’t the drop itself—it’s watching your account go to zero right before your eyes and not being able to react. During the LUNA crash, a buddy of mine went all in. He still hasn’t recovered from it.

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LiquidatedAgain

· 2025-12-08 00:23

Liquidated again, but this time I’ve learned my lesson. On 5/19, my 1000U instantly turned into spare change. Reading this article now just brings back that feeling of despair... This is not just clickbait—I always thought I could buy the dip, but ended up being the bag holder every time. Now I only dare to use 0.5x leverage; life is more important than money.

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InscriptionGriller

· 2025-12-06 13:52

I've seen this scenario too many times, really. Every time someone says, "This time is different," and then... haha, the account balance line just goes straight down.

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ProveMyZK

· 2025-12-06 13:52

Alright then, here’s yet another “the crypto space is a battlefield” cautionary tale. I really survived that 3/12 wave, and now when I see these newcomers shouting “buy the dip” every day, I just want to laugh—history only repeats itself, never learns any lessons. --- I got caught up in the LUNA wave, lost a thousand bucks, and now just the thought of stablecoins makes me nauseous. --- You’re absolutely right, but those hyping PEPE’s comeback every day just won’t listen. I’ll just quietly wait for the next black swan. --- Now that’s the real talk. From Mt.Gox to FTX, one bloody case after another, and still there are people going all-in 🤦 --- Wiping out an account isn’t scary, I’ve just seen it too many times. Thinking you’ll make a comeback on this run? Odds are worse than winning the lottery. --- On 5/19 I knew high leverage was a dead end, and yet some people are still playing it. All I can say is good luck. --- Recognizing risk is the harshest truth, and 99% of people can’t do it. All they see is the rise, never the fall. --- I’ve never seen a bottom-fishing bag holder make money—same logic every time, and every time there are people jumping in. --- I agree with “take it slow,” but with so many get-rich-quick players in this space, how many are actually moving slowly?

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RugResistant

· 2025-12-06 13:50

After seeing so many liquidations, there are still people daring to go all-in—truly brave souls. I was completely stunned by that Luna incident. Algorithmic stablecoin? What a joke—more like algorithmic crash coin. Now all the bottom-fishing guys have turned into bag holders. By this time next year, there will be another round of new investors getting rekt. Honestly, after March 12th, I understood what risk really means. I never dared to go all-in again. Stuff like PNUT is just a game of musical chairs—sooner or later, someone will be left holding the bag. Feels like I’m just gambling on when the next black swan will hit. FTX’s implosion was truly wild. The platform was just gone overnight; you couldn’t even find your coins on-chain. After personally experiencing going to zero once, I don’t have much desire left when I see these coin pumps. High leverage isn’t a strategy—it’s just betting against your own principal.

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LiquidationHunter

· 2025-12-06 13:47

I watched with my own eyes as people around me had their accounts wiped out during that 312 crash. Now there are still people daring to play with high leverage... whatever, good luck to all the bag holders. The Luna incident completely made me give up on the so-called "algorithm" fantasy. To put it bluntly, they're all just scams with prettier packaging. I've seen too many people trying to buy the dip end up becoming permanent holders. Can I touch things like PEPE or BONK? No thanks, I'm scared. I got liquidated and wiped out during 519, and I haven't touched futures since. That stuff really preys on human nature. After the FTX incident, I don't even really trust exchanges anymore. Self-custody is a hassle, but at least your funds are in your own hands. This round of the market feels eerily calm right now. The calmer it is, the more dangerous it gets. Feels like a black swan is coming soon. Don't even talk to me about stablecoins. Luna already taught me that a single formula can turn your dreams into code. Trading crypto is like gambling. The difference is, with gambling you at least know you're gambling—here, a lot of people actually think they're investing.

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MidnightTrader

· 2025-12-06 13:46

Here we go again, I've seen too many of these kinds of posts. But that 312 crash was really brutal—my friend lost 300,000 just like that. Now seeing how hot coins like SUI are, I can't help but feel like something's off.

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