From $10 billion to zero: How a crypto hedge fund collapsed and dragged many investors down with it

[Fcw75]

Take the mother’s money to play…tsk tsk. Filial son 🤣

https://www.todayonline.com/singapore/explainer-crypto-firms-trouble-bankrupt-protection-creditors-fintech-sector-1973671?fbclid=IwAR0kUMDEskaTXOGYUwYryX91FU85iwPOnzWTxhZvQbS3SUx9lPfdSkpgXxw
 

SINGAPORE — The implosion of TerraUSD and its paired token Luna in the cryptocurrency exchange market burnt a 27-year-old Singaporean in May, but being young and digitally savvy, he continued to trade on cryptocurrency platform Hodlnaut. This time, with his mother's savings.

Now, he is feeling the heat and is despondent. Hodlnaut has suspended the withdrawal of yields by users and the Singapore-based cryptocurrency exchange has applied for creditor protection.

“I was investing on behalf of my mother and this was part of her retirement sum,” the 27-year-old accountant said, declining to be identified. The yields he has, valued at about S$36,600, are locked up in the exchange.

“So I will be relying on instant noodles for the next 24 months in order to try and save up this amount (to give my mother).”

Edited August 21, 2022 by Fcw75

[Volvobrick]

4 minutes ago, Fcw75 said:

Take the mother’s money to play…tsk tsk. Filial son 🤣

https://www.todayonline.com/singapore/explainer-crypto-firms-trouble-bankrupt-protection-creditors-fintech-sector-1973671?fbclid=IwAR0kUMDEskaTXOGYUwYryX91FU85iwPOnzWTxhZvQbS3SUx9lPfdSkpgXxw
 

SINGAPORE — The implosion of TerraUSD and its paired token Luna in the cryptocurrency exchange market burnt a 27-year-old Singaporean in May, but being young and digitally savvy, he continued to trade on cryptocurrency platform Hodlnaut. This time, with his mother's savings.

Now, he is feeling the heat and is despondent. Hodlnaut has suspended the withdrawal of yields by users and the Singapore-based cryptocurrency exchange has applied for creditor protection.

“I was investing on behalf of my mother and this was part of her retirement sum,” the 27-year-old accountant said, declining to be identified. The yields he has, valued at about S$36,600, are locked up in the exchange.

“So I will be relying on instant noodles for the next 24 months in order to try and save up this amount (to give my mother).”

Oh Boomee! 

[Throttle2]

6 hours ago, Fcw75 said:

Take the mother’s money to play…tsk tsk. Filial son 🤣

https://www.todayonline.com/singapore/explainer-crypto-firms-trouble-bankrupt-protection-creditors-fintech-sector-1973671?fbclid=IwAR0kUMDEskaTXOGYUwYryX91FU85iwPOnzWTxhZvQbS3SUx9lPfdSkpgXxw
 

SINGAPORE — The implosion of TerraUSD and its paired token Luna in the cryptocurrency exchange market burnt a 27-year-old Singaporean in May, but being young and digitally savvy, he continued to trade on cryptocurrency platform Hodlnaut. This time, with his mother's savings.

Now, he is feeling the heat and is despondent. Hodlnaut has suspended the withdrawal of yields by users and the Singapore-based cryptocurrency exchange has applied for creditor protection.

“I was investing on behalf of my mother and this was part of her retirement sum,” the 27-year-old accountant said, declining to be identified. The yields he has, valued at about S$36,600, are locked up in the exchange.

“So I will be relying on instant noodles for the next 24 months in order to try and save up this amount (to give my mother).”

Shiok.

he investing for his mother without her knowing, haha

its a great lesson he learnt. 👍

[Fcw75]

43 minutes ago, Throttle2 said:

Shiok.

he investing for his mother without her knowing, haha

its a great lesson he learnt. 👍

Gambler’s mentality.

After he lost his money, he took his mother’s money to try to recuperate what he lost. 

Now he lost both. 👏🏼
 

Keyword is he think he’s young and digitally savvy. The sky’s the limit yo! YOLO!

Edited August 21, 2022 by Fcw75

[Mrmilktooth]

Damn cb. Better return every one dollar to the parent… 

[Scion]

7 hours ago, Fcw75 said:

Take the mother’s money to play…tsk tsk. Filial son 🤣

https://www.todayonline.com/singapore/explainer-crypto-firms-trouble-bankrupt-protection-creditors-fintech-sector-1973671?fbclid=IwAR0kUMDEskaTXOGYUwYryX91FU85iwPOnzWTxhZvQbS3SUx9lPfdSkpgXxw
 

SINGAPORE — The implosion of TerraUSD and its paired token Luna in the cryptocurrency exchange market burnt a 27-year-old Singaporean in May, but being young and digitally savvy, he continued to trade on cryptocurrency platform Hodlnaut. This time, with his mother's savings.

Now, he is feeling the heat and is despondent. Hodlnaut has suspended the withdrawal of yields by users and the Singapore-based cryptocurrency exchange has applied for creditor protection.

“I was investing on behalf of my mother and this was part of her retirement sum,” the 27-year-old accountant said, declining to be identified. The yields he has, valued at about S$36,600, are locked up in the exchange.

“So I will be relying on instant noodles for the next 24 months in order to try and save up this amount (to give my mother).”

 

 I can't see the link between digitally savvy and gambling in crypto leh 😁 

Edited August 21, 2022 by Scion

[BanCoe]

2 hours ago, Fcw75 said:

Gambler’s mentality.

After he lost his money, he took his mother’s money to try to recuperate what he lost. 

Now he lost both. 👏🏼
 

Keyword is he think he’s young and digitally savvy. The sky’s the limit yo! YOLO!

They don’t make accountants like they used to 🤣🤣🤣

[Throttle2]

2 hours ago, Fcw75 said:

Gambler’s mentality.

After he lost his money, he took his mother’s money to try to recuperate what he lost. 

Now he lost both. 👏🏼
 

Keyword is he think he’s young and digitally savvy. The sky’s the limit yo! YOLO!

Hahaha, young and digitally savvy isnt half as comparable to being sharp and intelligent.  
 

[inlinesix]

 

[Jamesc]

Another one down the toilet.

Genesis

[Mustank]

On 8/21/2022 at 11:10 AM, Fcw75 said:

Take the mother’s money to play…tsk tsk. Filial son 🤣

https://www.todayonline.com/singapore/explainer-crypto-firms-trouble-bankrupt-protection-creditors-fintech-sector-1973671?fbclid=IwAR0kUMDEskaTXOGYUwYryX91FU85iwPOnzWTxhZvQbS3SUx9lPfdSkpgXxw
 

SINGAPORE — The implosion of TerraUSD and its paired token Luna in the cryptocurrency exchange market burnt a 27-year-old Singaporean in May, but being young and digitally savvy, he continued to trade on cryptocurrency platform Hodlnaut. This time, with his mother's savings.

Now, he is feeling the heat and is despondent. Hodlnaut has suspended the withdrawal of yields by users and the Singapore-based cryptocurrency exchange has applied for creditor protection.

“I was investing on behalf of my mother and this was part of her retirement sum,” the 27-year-old accountant said, declining to be identified. The yields he has, valued at about S$36,600, are locked up in the exchange.

“So I will be relying on instant noodles for the next 24 months in order to try and save up this amount (to give my mother).”

That’s why I am locking my wife’s money in cpf ers

i told her: our sons will not feed you. Do not give money to invest if not they will squander it

They want to invest? Use their money. Only by using their own hands to handle fire, can they learn how to use fire 

[Jman888]

9 minutes ago, Mustank said:

That’s why I am locking my wife’s money in cpf ers

i told her: our sons will not feed you. Do not give money to invest if not they will squander it

They want to invest? Use their money. Only by using their own hands to handle fire, can they learn how to use fire 

why only your wife's money?

so that you can use yours on something else?

 

[Mustank]

3 minutes ago, Jman888 said:

why only your wife's money?

so that you can use yours on something else?

 

My one I haven’t decide whether to get another property to rent out or go cpf ers route

[Victor68]

On 12/5/2022 at 6:59 PM, Eartpuhom said:

This a great post, and I hope many people have realized that they will not be able to earn easy money forever. I also invested my money in cryptocurrency for about a year. Still, I understood that sooner or later, this bubble with money would explode sooner or later, and the price of bitcoin would fall very quickly. And so it happened. It's good that I could sell all my cryptocurrency back in the middle of 2021. Thus I not only saved my money but also increased my capital. Now I have become more interested in real estate investments, and let's see what happens.

Also got bubble one but got something solid to hold on to, not as bad. 

[Volvobrick]

Crypto lending unit of Genesis files for US bankruptcy

 

https://www.cnn.com/2023/01/20/business/genesis-crypto-lending-unit-bankruptcy/index.html

Another one bites the dust! 

[Volvobrick]

But no scare no scare. 

 

Exchange your bankruptcy claims for GTX coins. Its the same founders whose bankrupt companies are being claimed against by the way.... 

https://www.forbes.com/sites/tylerroush/2023/01/17/bankrupt-3ac-seeks-funding-for-new-crypto-exchange-gets-mocked-for-proposed-name-gtx/

 

[Wt_know]

LENDING & BANKRUPT 

easy come easy go

the best part is other people money

ownself pocket ownself first

 

 

[Throttle2]

Just love these kind of news.

bloody wet behind their ears, act like trading gods, talk big, act tough, now burn parents retirement money…..