HongKongDoll: From crypto stars to wallet wipeouts - Stories of high risks in Web3

Few in the cryptocurrency community know that HongKongDoll, the famous Hong Kong actress, is actually an important figure in the Web3 world. She is not only a visionary behind hot NFT projects but also a trader active in the most vibrant markets. However, her journey from major wins to bitter failures is a classic story of risk in the crypto industry.

2022: When HongKongDoll entered the scene with Azuki and the NFT movement

It all started in January 2022, a time when the NFT market was at its peak. HongKongDoll appeared on X (formerly Twitter) with a shocking investment move—buying a large amount of Azuki, a top-tier NFT project considered a symbol of the bull market. This tweet immediately caught the crypto community’s attention, sparking curiosity about this “big player.”

Azuki quickly became a sensation. Its price, starting at 3 ETH, skyrocketed to 30 ETH within just a few months—a tenfold increase. But don’t jump to conclusions, because HongKongDoll’s purchase cost was around $400,000, a modest amount compared to other major players at the time. She claimed to use profits from Azuki to offset previous losses—a smart strategy from an experienced trader.

Short-selling ETH strategy: When $100 million profit becomes controversial

In the following months, HongKongDoll made waves with an even riskier move. On X, she revealed that she had shorted Ethereum 50 times at a price of $2,836—quite high at that time. On June 17, 2022, the crypto market crashed hard, with Ethereum falling close to $1,000.

Quick calculations suggest that if this information is accurate, the potential profit would be enormous. The story of “$100 million profit” spread rapidly through the community, with some claiming HongKongDoll achieved “financial freedom.” However, she later explained that these trades were mainly to protect her current positions, not driven by greed for huge profits as outsiders thought.

Nevertheless, the gap between reality and rumors caused the crypto community to gradually distance itself from her. HongKongDoll continued to operate on crypto platforms, participating in new trends like BRC-20, Friend.Tech, and other major events.

November 2023: When her wallet suddenly hits “zero”

By November 3, 2023, HongKongDoll posted a shocking tweet: her crypto wallet was essentially emptied. The community immediately speculated about the causes—from liquidation due to a targeted contract, to a possible hack, or simply poor trading decisions.

In the Friend.Tech group, HongKongDoll shared that “the situation is a bit complicated,” hinting that the story isn’t as simple as the numbers show. Specific details about the incident remain unclear, but it made the community realize how harsh the crypto market can be.

After the storm: HongKongDoll and the “restart” outlook

However, her followers need not worry too much. She revealed that her income from OnlyFans—platform allowing her to earn from followers—remains steady as an “automatic money machine.” This means she still has financial independence outside the crypto world.

Moreover, HongKongDoll conducted a poll on X to gauge interest in relaunching her famous adult platform—once dominating with nearly 191 million visits. The Hong Kong actress, once the most famous in the region, might be making a comeback, carrying lessons from her tumultuous Web3 journey.

HongKongDoll’s story is a reminder that in the world of cryptocurrency, success and failure are separated by a single decision. Big numbers can turn to nothing in an instant, but the opportunity to start over always exists.