This incident highlights the importance of staying calm and informed in times of market volatility. Panicking and making rash decisions can lead to significant financial losses. It's also important to conduct due diligence and research before making any investment decisions to avoid falling for scams or risky investments.
As with any investment, it's important to stay informed and make rational decisions based on reliable information. Panic and fear can lead to impulsive actions that can result in significant losses. This is indeed a sad story.
Topic: A guy traded worth $2M of crypto for $0.05 USDT (Read 54 times)
I don’t understand how he could be so dumb. What an awful mistake, I hope he can recover mentally from tgis if it was a large % of his net worth. It’s such a schoolboy error, I just can’t fathom how somebody could make a mistake like that, even under pressure.
Always be of clear mind when transacting with large amounts of money. Ignore market noise, volatility & execute orders confidently.
Once again I hope this guy is OK.
You don't need to even be dumb to make a mistake. Everyone does mistakes. And this is the main issue that has been in between governments and blockchain adoption. The fact that people are responsible for their own wallets doesn't sit well with regulations in where you can't "lose" money or take it from someone because they made a technical error.Always be of clear mind when transacting with large amounts of money. Ignore market noise, volatility & execute orders confidently.
Once again I hope this guy is OK.
There's a reason why same self-responsibility idea is not applied to elsewhere in the net, because if people would be responsible of their own data. Hacking accounts would be semi-legal because you would be solely responsible of your security anyway.
I don’t understand how he could be so dumb. What an awful mistake, I hope he can recover mentally from tgis if it was a large % of his net worth. It’s such a schoolboy error, I just can’t fathom how somebody could make a mistake like that, even under pressure.
Always be of clear mind when transacting with large amounts of money. Ignore market noise, volatility & execute orders confidently.
Once again I hope this guy is OK.
Always be of clear mind when transacting with large amounts of money. Ignore market noise, volatility & execute orders confidently.
Once again I hope this guy is OK.
This is a sad story of how someone panicked due to the news about SVB a couple of days ago.
A twitter account named BowTiedPickle.Eth posted a tweet about this guy that had made a mistake. Every detail is on the link that I'll provide at the bottom together with the quotes from the links.
Sources:
https://cointelegraph.com/news/usdc-investor-shells-out-2m-to-receive-0-05-usdt-trying-to-evade-crash
https://twitter.com/BowTiedPickle/status/1634415551450587138
A twitter account named BowTiedPickle.Eth posted a tweet about this guy that had made a mistake. Every detail is on the link that I'll provide at the bottom together with the quotes from the links.
With USDC insolvency fears rampant, users are fleeing to safety in other stables. Not all of them are going to make it there in one piece, however.
Here's how one unlucky user paid $2,080,468.85 to receive $0.05 of USDT.
Here's how one unlucky user paid $2,080,468.85 to receive $0.05 of USDT.
Quote from: https://cointelegraph.com/news/usdc-investor-shells-out-2m-to-receive-0-05-usdt-trying-to-evade-crash
On-chain investigations revealed that the user had stored the assets in a liquidity pool (LP) — a popular method to earn passive income in cryptocurrencies. The user could have sold his LP tokens for USDT for a 6% slippage. However, they chose to go for a “questionable " method. As explained by BowTiedPickle:
“The unfortunate soul used the KyberSwap aggregation router to dump a large clip of 3CRV (DAI/USDC/USDT) LP token into USDT.”
“The unfortunate soul used the KyberSwap aggregation router to dump a large clip of 3CRV (DAI/USDC/USDT) LP token into USDT.”
Sources:
https://cointelegraph.com/news/usdc-investor-shells-out-2m-to-receive-0-05-usdt-trying-to-evade-crash
https://twitter.com/BowTiedPickle/status/1634415551450587138
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