Dark Forest of Cryptocurrency · 18 Safety Survival Guidelines for the Survival Combat Map (Remember! Remember!)
1. High APY is not sustainable. If you don't understand where the profits come from, you are the source of those profits.
2. Don't blindly FOMO: Jumping in after seeing others earn 100 times is usually just taking over their losses.
3. Infinite authorization is a slow suicide: The smaller the limit, the safer it is. Defaulting to infinite authorization is the root of drained wallets.
4. Mnemonic phrases/private keys should never go online: No screenshots, no cloud storage, no chat tools for saving. Use physical media and geographic dispersion.
5. Most shitcoin projects have very few that can succeed: 99% of meme coins ultimately end up at zero.
6. Upgradable contracts = exposure to future credit: "Emergency governance" is often used to bypass scrutiny.
7. Don’t try to catch the bottom: In a downtrend, there’s a basement below the floor, and hell below the basement.
8. "No-risk arbitrage" is the most expensive illusion in this industry.
9. Stablecoins are not necessarily stable: UST collapsed, and USDC also has solvency risks. Redemption mechanisms and collateral quality are the bottom line.
10. Exchanges are not wallets: What you receive is an IOU, not asset control. MTgox, FTX are case studies.
11. Blind signing is a blank check: If you don’t understand it, don’t sign it, and don’t rush it. Readable signatures are a basic right.
12. Beware of "clipboard hijacking": Carefully verify addresses; don’t trust your fast fingers. Address poisoning attacks are evolving.
13. Rug Pull/Pixiu Scheme: Can only buy, cannot sell; going in means zeroing out. Anonymous teams + unopen-sourced + liquidity not locked = red flags.
14. Leverage is a time bomb: Volatility will settle for you. Using leverage in a highly volatile market, destruction is just a matter of time.
15. The liquidation mechanism will self-reinforce in volatility: When collateral correlation rises, over-collateralization is also unsafe.
16. Regulation is an off-chain black swan: Often overestimated in the short term, often underestimated in the long term. Reserve for migration, exit, and compliance buffers.
17. Private messages are the entry point: If someone on Discord/Telegram messages you first, 99.9% chance they are scammers. Officials will never message you first.
18. Surviving is more important than making money - survival is the prerequisite for compounding interest and is the ticket to participate in the next cycle.
