Crypto Trader Lost $185k By “Overtrading Shitcoins”

Monday 03 May 2021, 12:00 PM AEST - 1 week ago

Among many Twitter threads of investors showing their recent gains on the crypto market, a cautionary tale has recently stood out.

Although the growth of various cryptocurrencies since late 2020 has given many traders an unforeseen boost, a Twitter user has come forward to explain how unfortunate trades cost him no less than $185k.

Investments Gone Sour

For rgr_park (the Twitter user behind the tragic story), things seemed to go pretty well at the beginning of April 2020, “holding top projects with solid fundamentals” and reporting a crypto portfolio worth around $185k.

The desire for quick profits then led to different decisions.

Not taking profits and risking even more brought the story to its end.

Stories like this are a reminder of the risks involved in trading cryptocurrencies and their volatility, like recently demonstrated by DOGE and SAFEMOON dropping by 50% or TurtleDex pulling a $2.5 million exit scam.

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