REAL REKT STORIES OF CRYPTO: The Cancelled Wedding
The sad REKT story of a fool who suddenly went 'crazy' because he suffered huge losses due to crypto which went viral on social media. Tens of millions of his money disappeared.
The story was a classical wannabe rich investor. Seeing that he could 1000x fold his money in crpto. But unfortunately didn't hear the saying :"Never invest in money you can afford to lose" . He was going to get married. His intentions was he wanted to blow up his money so he and his fiance not just can get married but can also travel around the world for honeymoon and get a new Rp 400 millon SUV. In Indonesia a wedding all in cost around Rp 100 millon (roughly USD 7000), you can rent a building event room with catering / wedding food, flowers and a kodak man who takes pictures. Everything was set for getting married and what a happy couple they were.But there are more expensive ones if they could afford. But they were a classical frugal couple that thinks its better off getting married not too expensive and the money could be used for other important things like a down payment for a house,etc. The groom saved his hard working money until he knew crypto.
He thought trading and crypto could be a good combination. You can get profits by trading and also by price "mooning". But it turns out deadly especially when both knowledge possessed is very shallow.
For cryto traders USD 7000, might not be a lot of money. But with great skills it can be turned into $100 grand or more. But what happened or what most probably happens was that he putted long when the crypto price (around April 2021) suddenly corrected or went down. And sadly he got forced liquidated, that's just how it is.
And lost every single dime, he lost everything ,cause he went all in.
Like falling down a ladder, his wife-to-be left him after knowing that his lover had lost a lot.And most of all being a fool for not telling her about his investment intentions."You fool, you should have told me, I'm a financial advisor remember, I know all this stuff. And you know that already committed on living frugally right ? remember ??!! before and after we get married !!. This is it !! We're done. Go Home! I never wanna see you again"
So he went to his friends house and told the story of pain of being rekt. The ugly twist was that some of the money was also borrowed money. That's common where crypto noobs and the early stages get greedy and want to add more money and buy more crypto even though from borrowing to friends and family.
Digital assets with the lure of big profits, often tempt the public. Not a few who claim to benefit. Although on the other hand there are also those who have lost. Like this one man, it turned out that he had to lose millions of rupiah. Even though it was wedding money.