A Twitter user by the handle rgrpark explained how, in three weeks, he lost his entire DeFi token portfolio worth $185,000.
A thread on how I went from $185K to $0 in exactly 3 weeks.
My address is https://t.co/Uixz6Fc1Cg if you want to check the history using @zerion_io pic.twitter.com/vHQS2AHZYd
— rgrpark (@rgr_park) April 29, 2021
According to him, on April 11, at the height of the altseason, he held funds in several DeFi projects \”with prospects for further growth,\” including Radix (EXRD), Everest (ID), AllianceBlock (ALBT) and Graphlinq Protocol (GLQ).
“Things were going well, but I wanted to achieve results faster; I was impatient,” wrote rgrpark.
On April 20, during the Bitcoin price decline, the user got carried away trading on Uniswap, \”selling on the dips and buying on the rallies.\” This led to a loss of more than 50% of his deposit.
Separately, the investor continued to buy volatile coins hoping to recover the portfolio.
On April 29 he purchased Micro Launchpad Token (MICRO) with the remaining $32 000. A sudden liquidity pump allowed the deposit to rise to $104 000 by the end of the day. However, a sudden drop in the token left him with 8 ETH in his account.
A few days later the user invested in the highly volatile Truebit Protocol (TRU), which soon collapsed.
Look at the $TRU @Truebitprotocol chart. ATH was $300, then forgotten until VButerin endorsed it just now. Look at the volume candle. This is currently at 65M MC but will be 6B+ soon. That’s 100X. Guess who’s gonna be back? ⚡⚡🚀🌛 pic.twitter.com/Af1Bp7BJ66
— rgrpark (@rgr_park) May 2, 2021
“The pump was driven by some whale who bought 650 000 TRU at 25 cents and booked profits at x165. I will find him and make him get me a job, because I can no longer feed my family,” summarized rgrpark.
As reported in November 2020, Ripple’s chief technology officer David Schwartz described ill-fated investments in obscure altcoins. His losses exceeded $300 000.
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