In a striking turn, an NFT trader has sold their CryptoPunk after holding it for a year, incurring nearly a $10 million loss. This significant transaction illustrates the volatility and unpredictability inherent in the NFT market, raising questions about future investments.
In a stark reminder of the risks inherent in trading, a trader recently revealed that a copy-paste error cost him $26 million. Describing the experience as “max pain,” he highlights the critical importance of precision in high-stakes financial environments.
The founder of dYdX, Antonio O’hara, has accused a former contractor of deceptive practices that led to a $9 million loss in the company’s insurance fund. O’Hara’s claims of foul play have not been independently corroborated.
In a stunning setback for the blockchain-based payment network, Mixin Network has reportedly lost nearly $200 million due to a major hack. This is one of the biggest losses to occur in the crypto space to date.
Investing in cryptocurrencies can be a lucrative endeavor, but there are many pitfalls one can easily fall into. Investing blindly in an unknown exchange, trusting strangers with unfinished transactions, and not backing up or secured wallet files are some of the worst ways to lose your Bitcoin.