Cryptocurrency Trading loss of 3 million, the fall from a deputy factory director of a state-owned enterprise to a ride-hailing driver.

Recently, a story about a former deputy factory manager of a state-owned enterprise who lost 3 million yuan in Cryptocurrency Trading has sparked heated discussions on social media. This man has fallen from his position as the deputy factory manager of a coal washing plant in Handan, Hebei, to now driving for a ride-hailing service to pay off his debts, and his experience is quite lamentable.

This man once had an enviable life. He served as the deputy factory manager in a state-owned enterprise, with a net monthly salary of 9,000 yuan, lived in a house without a mortgage, drove an Audi, and managed 20 to 30 people. After getting married in 2018, he and his wife had a five-year-old daughter, and their family was happy and harmonious. However, everything changed dramatically because he got involved in Cryptocurrency Trading.

Nowadays, this man drives a ride-hailing car for 13-14 hours a day, with a daily income of only 300 yuan. Renting a single room for 600 yuan/month, an independent bathroom has become his last dignity. A debt of one million looms over him, with annual interest as high as 200,000-300,000 yuan, most of the loans are now fully overdue.

What is even more heartbreaking is that his family has also collapsed because of this. Two months ago, his wife filed for divorce due to a debt crisis and took their daughter. His parents are completely disappointed in him and even sent a text saying "This family no longer has you." His five-year-old daughter, being so young, does not know the truth; she only knows that "Dad went out to work."

This man's journey in the cryptocurrency trading world began in 2020. He initially proceeded with caution, but was soon tempted by high profits, starting to chase altcoins and engage in leveraged contract trading. He described his actions as "cutting meat with a dull knife," constantly borrowing money to cover losses, hoping to recover his funds. However, his biggest problem was not setting stop losses; even when he did set a stop loss, he would cancel it, fantasizing about a rebound.

For several years, he attempted to turn his fortunes around through multiple large loans, but each time ended in failure. He borrowed from various online lending platforms, borrowed money from friends and family, and even sold his sister's house, ultimately mortgaging his own property. Each time he borrowed money, it did not help him recover but rather made his debts grow larger.

This behavior not only caused economic losses but also severely overdrawn the trust of friends and family. In order to raise money, he fabricated lies to deceive the trust of his friends and family. Eventually, a friend revealed the truth to his wife, leading to the collapse of their marriage.

In the cryptocurrency trading world, similar tragedies are not isolated cases. High-risk, high-leverage trading methods, combined with the illusion of "getting rich quickly," often put ordinary investors in dangerous situations. This story also serves as a reminder that investment requires rationality; do not be blinded by short-term gains, and do not invest using borrowed money.

Currently, a well-known KOL in the cryptocurrency trading circle has stated that he will fund this man with 100,000 yuan, which includes a one-time grant and a monthly living expense for a year, hoping to help him through this difficult time. However, considering this man's addiction to cryptocurrency trading, how to prevent him from falling back into the abyss of speculation remains a matter worth paying attention to.

Regardless, this story has sounded the alarm for us. In the financial markets, a robust investment strategy and good risk management are the keys to long-term success. For ordinary investors, acting within their means and investing rationally are the right choices.