I was living the glory days of my wallet. But there was another name echoing everywhere: "Project X".

The Greed Phase

Project X was promising a real revolution in the world of DeFi; annual yields (APY) that exceeded 1000%, and a brilliant marketing team that made everyone cheer.

* The buzz is intensifying: all the influencers were talking about it. I saw my friend's wallet double in days, and I started to feel the FOMO (fear of missing out) burning me.

* The disastrous decision: I sold a large portion of my holdings in $ETH (it was in a safe zone), and transferred a huge amount, perhaps $40,000, to project X coins. It was the "deal of the century" in my opinion.

False Certainty

In the first weeks, I felt like a genius. The amount doubled, and I had more than $100,000 on the screen. I was calculating profits and planning what to buy.

* Ignoring signals: Some analysts started raising questions about the project's code (Smart Contract Audit), and about the speed of the returns. But I ignored them. "They are just haters who don't want us to win," that's how I convinced myself.

* The impossible exit: One night, I thought about withdrawing part of the profit. But the smart contract was complicated, and the fees were high, so I decided: "I'll wait for one more rise and then withdraw everything." This delay is what destroyed me.

The Zero Moment

It happened on a quiet night. I woke up in the morning to find panic messages filling the groups.

* The shocking news: The team of project X pulled all liquidity from the lending pools in what is known as a "Rug Pull" disaster. The team disappeared, the site vanished, and the currency went to zero.

* The empty wallet: My wallet entered. The balance no longer shows $100,000. The number was just a few dollars left from network fees. The $40,000 I worked for years to accumulate evaporated in one night.

That moment was painful... but it was necessary.

💎 The lesson and the strongest lesson

The loss was harsh, but it taught me three invaluable lessons:

* 🛑 Rule Number 1: Control greed.

> Lesson: When greed makes you sell strong and established assets for a promise of astronomical returns, back off immediately. If the return seems real to the point of being hard to believe, it is likely not real. Do not chase the high APY, instead follow safety.

>

* 🔎 Rule Number 2: Safety first (Trust but Verify).

> Lesson: Never invest in a project whose smart contracts have not been independently audited. Ask: Who is the team? Are their identities known? If the team is anonymous, they have the full ability to pull the rug out from under you.

>

* 🎯 Rule Number 3: Always set an exit goal.

> Lesson: Don't leave your success to chance. Have a clear plan: If the amount X doubles, I will withdraw my original capital and invest only the profit. Not securing your profits is the sure recipe for turning success into loss.

>

Remember, my friend: In the crypto market, real profits come from patience and research, not from rushing after quick trades. Make your wallet reflect a strategic mind, not a greedy heart.

Have you had a similar experience? What is the most important lesson you learned? Share your experience with us! 👇

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