Lost All My Savings Today

Mombod

Mombod

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I lost all my savings which is in trust wallet today. The reason I save in crypto (usdt) is to be safe against inflation because I live in a third world country.

Now all my entire savings has been wipe out in a minute and there is nothing I can do to recover it.

Just want to share my grief here today, stay safe everyone.
 
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How did you "lose" the savings?
USDT (despite how shit it is) it had always been "pegged" 1:1 more or less to USD
So unless USD meant nothing in your country, then it shouldn't have affected you.
Then again, whether it was USD or USDT or BUSD or USDC etc, would of been the same result.
1660504333636.png
Yes, there was a dip but it didnt drop pass 0.995, which it recovered the next day
 
What happened exactly? You lost your password, or you got hacked?
 
What caused you to lose all your savings? Trust Wallet is a good wallet. What happened?
 
Oh man, don't say that you losed your private key :( It happend to me 2 months ago, I accidentally deleted MetaMask and I laughed: "I have the private key". After 1 week I realized that I don't have PK for that wallet :( I didn't lose my all money but I lost a lot too. I hope you make that again.

I also hold USDT for same reason, it's so shitty situation. You can't trust banks because of local currency but can't totally rely on crypto too.
 
PrimalMe said:
Oh man, don't say that you losed your private key :( It happend to me 2 months ago, I accidentally deleted MetaMask and I laughed: "I have the private key". After 1 week I realized that I don't have PK for that wallet :( I didn't lose my all money but I lost a lot too. I hope you make that again.
Click to expand...
Reminds me of myself
"It's ok they are just burners wallets"
a few weeks later, checking my spreadsheet, seems like i left a few hundred on those "burners" :weep:
 
PrimalMe said:
can't totally rely on crypto too.
Click to expand...
Yes you can. Crypto isn't the problem. Crypto is designed to be perfect. Behind every loss in crypto is human error.

For example, if someone messages me on Telegram, requesting my private keys or some other sketchy info, it's not the fault of crypto if I hand over that info.

If I "invest" in ElonDogeBabyDaddyToken, it's not the fault of crypto that I made this "investment".
 
Mombod said:
I lost all my savings which is in trust wallet today. The reason I save in crypto (usdt) is to be safe against inflation because I live in a third world country.

Now all my entire savings has been wipe out in a minute and there is nothing I can do to recover it.

Just want to share my grief here today, stay safe everyone.
Click to expand...
How much did you lose bro? :(
PrimalMe said:
Oh man, don't say that you losed your private key :( It happend to me 2 months ago, I accidentally deleted MetaMask and I laughed: "I have the private key". After 1 week I realized that I don't have PK for that wallet :( I didn't lose my all money but I lost a lot too. I hope you make that again.

I also hold USDT for same reason, it's so shitty situation. You can't trust banks because of local currency but can't totally rely on crypto too.
Click to expand...
How much did you lose? :'(
xReminisce said:
Reminds me of myself
"It's ok they are just burners wallets"
a few weeks later, checking my spreadsheet, seems like i left a few hundred on those "burners" :weep:
Click to expand...
And how much did you leave there dear?
 
Mombod said:
The reason I save in crypto (usdt) is to be safe against inflation because I live in a third world country.
Click to expand...
It's sad bro I understand your pain the price of dollars to our local currency always fluctuate.

But how did you lose you savings where you hacked?
 
xReminisce said:
Reminds me of myself
"It's ok they are just burners wallets"
a few weeks later, checking my spreadsheet, seems like i left a few hundred on those "burners" :weep:
Click to expand...
I literally jumped out of my sleep in the middle of the night when I realize I don't have backup of that wallet.

Toz said:
Yes you can. Crypto isn't the problem. Crypto is designed to be perfect. Behind every loss in crypto is human error.
Click to expand...
No, you can't. I respect the technology behind blockchain as a blockchain developer and I really think that it's more secure than regular banking but there is something you can't control, exchanges. It's not related with technology for sure.

If you hold stablecoins (except DAI):
- Tether or Circle can blacklist you (for example they blacklisted a lot of people using Tornado Cash)
- Remember the UST crisis (it's pretty hard for big stablecoins but not impossible. UST was really big)

If you hold BTC or other coins:
- You will need to exchange BTC at cheap rate in bear market. Yeah, we all HODL but irl you have to pay bills :)
 
Mombod said:
I lost all my savings which is in trust wallet today. The reason I save in crypto (usdt) is to be safe against inflation because I live in a third world country.

Now all my entire savings has been wipe out in a minute and there is nothing I can do to recover it.

Just want to share my grief here today, stay safe everyone.
Click to expand...

Sorry to hear it. It's a sick feeling no matter how it happened. Hope you are able to recover and go on even stronger than before.
 
PrimalMe said:
I literally jumped out of my sleep in the middle of the night when I realize I don't have backup of that wallet.


No, you can't. I respect the technology behind blockchain as a blockchain developer and I really think that it's more secure than regular banking but there is something you can't control, exchanges. It's not related with technology for sure.

If you hold stablecoins (except DAI):
- Tether or Circle can blacklist you (for example several they blacklisted a lot of people using Tornado Cash)
- Remember the UST crisis (it's pretty hard for big stablecoins but not impossible. UST was really big)

If you hold BTC or other coins:
- You will need to exchange BTC at cheap rate in bear market. Yeah, we all HODL but irl you have to pay bills :)
Click to expand...
First off, no idea what Tornado Cash is.
Second, UST was not a stablecoin. It was an "algorithmic stablecoin".

As a developer, you should know the difference.
 
xReminisce said:
Just a few hundred, scattered all around the place
you know.. gas fees and leftovers transferring from wallet A to B or from swaps etc
Click to expand...
Waaait a minute... Gotta go check all the gas fees I got locked about...

Love ya Remi...
 
Toz said:
First off, no idea what Tornado Cash is.
Second, UST was not a stablecoin. It was an "algorithmic stablecoin".

As a developer, you should know the difference.
Click to expand...
I know the difference but why? Can't a "normal" stablecoin crash? Tether lost its peg before, you might think that it's not a big deal but it's defo. Crash is possible because of exchanges. For example in luna crash, some exchanges let shorting UST :D And it sped up the crash process.

Btw, I'm not trying to say that crypto is scam/insecure but there are some facts. These devil exchanges might cause everything, literally everything.
 
Misterpossible said:
It's sad bro I understand your pain the price of dollars to our local currency always fluctuate.

But how did you lose you savings where you hacked?
Click to expand...
Yes. Just get online now only to receive transaction notifications.
 
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