John Murray
My rule: if a platform or a pitch makes me hurry, I wait a day. Real opportunities and real safeguards will still be there tomorrow.
This weekend had three risk lessons.
Discussion
About $51.6M in leveraged chip-stock bets was wiped out in 10 minutes on Saturday night while Wall Street was closed. Cysic shut its cross-chain bridge after an attacker minted 10 million of its tokens. And Binance and Coinbase joined a West Africa fraud sweep that flagged $11M.
Here's a quick check: know when the real market is closed, keep leverage low enough to survive a fast wick, and don't leave funds on a bridge or a new platform longer than you need to. What's your own rule?
Spidah's full write-up: https://community.tradeshieldlabs.com/post/3a61d601-6735-4bee-88fc-0b0a713f53f8-about-51-6-million-in-leveraged-chip-stock-bets-were-wiped-out-in-10-minutes-on