This is the sad story of how a user lost all their savings ($1,000,000 USDT) in a cold wallet for signing a malicious contract.
A classic case of token approval phishing. The victim (0x8c949361b49320c48a51f4b1c6f9f83862530f89).
How it happened:
1. Signed a malicious approval On a fake phishing site, they asked them to “approve” the use of their USDT. They signed an unlimited approval to the scam contract: `0x1178a87db6dc5c010e39a325af1f73bec6470502`
2. The scammers automatically drained With the unlimited approval, they already had permission to move everything. An automated script (sweeper) detected the approval and acted within seconds.
3. Drain in 3 quick transactions (within a minute of the signature): - 639,999 USDT - 159,999 USDT - 200,000 USDT Total: $1,000,000 USDT
The victim was in shock, watching everything disappear within minutes.
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Why it’s so common: People sign thinking it’s for a swap or an airdrop, without reading. Once approved, hackers can drain whenever they want (even days later). A hardware wallet won’t protect you if you sign the approval.
Key tips: - Never sign unlimited approvals. - Always check which contract you’re authorizing and how much. - Use anti-scam extensions (like Scam Sniffer). - Prefer wallets that simulate the transaction (e.g., Rabby Wallet). - When in doubt, reject and revoke old approvals.
One careless signature can knock you out. Pay attention to what you sign. Protect your funds!
💪 2 months of the “Enhanced Bitcoin DCA Strategy” and this is how things are going.
A strategy we started in the bottom zone with 3 assets, performing DCA every 15 days. (The cited posts detail the strategy).
4th half-month DCA: July 1st.
- On July 1st we made an excellent entry into BTC at $60,000 (below the 200-week MA and below the power law limit).
- Also a good entry into Strategy at $90, far below its 200- and 300-week MA.
- And a great entry into EverValue at $30.69 (burn-price value; this rarely happens).
Our purchase averages are above the current price, but keep in mind we’ve come from a drop of almost 2 months and we’re currently in the cycle bottom zone. This is the best time to accumulate.
Current situation (2 months after we started):
- Invested BTC: $1,400.00 Current Value: $1,320.74 (-5.66%)
- Invested MST (Strategy): $400.00 Current Value: $304.15 (-23.96%)
- Invested EverValue: $200.00 Current Value: $194.72 (-2.64%)
When BTC goes up, the other two assets rise more strongly. But when BTC falls, the other assets drop with greater intensity.
BTC is down -5.66% and, due to leverage, Strategy is down -23.96%.
However, EverValue holds up better than BTC, with only -2.64%. The main reason is that during these 2 months, approximately 8,400 satoshis per token entered into the collateral, which pushed the price up.
In other words, $EVA revalued by 8,400 sats the value of each token thanks to the BTC inflow from its ASIC mining teams in Paraguay.
Since the EVA price is 100% collateralized with BTC, its behavior depends mainly on Bitcoin’s movement.
In summary: The total portfolio is down -8.96%, dragged mainly by Strategy. Even so, I think we’re doing well for the price zone we’re in. With only a 5/10% rebound in BTC, this portfolio would already start generating profits.
In the next comment, I’ll leave you the links to the Google Sheets file where the path has been documented.
Dragoncrip
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💪 Third fortnight of the "Leveraged DCA Bitcoin Strategy"
Super stoked because we’re still buying the dip on #Bitcoin through these 3 assets. (Details in the referenced post)
Right now, the portfolio is in the red since we’ve been accumulating since 05/18, when BTC was around ~$77k, and today it’s hovering around $65k, which is over a $10k drop!
The goal remains to stack until Bitcoin breaks its +ATH, aiming to multiply by a couple of X.
Let’s break down how the exercise is going after these 3 buys:
🔹Amount invested to date: $1,500 🔸Current portfolio value: $1,379
While BTC dropped by 7.37%, MicroStrategy fell almost double that (-12.42%). It’s an asset that reacts with more force both downwards and upwards compared to Bitcoin.
On the flip side, EverValue (a BTC mining project with its token EVA collateralized in Bitcoin) performed really well: it dropped (3.33%) less than half of BTC.
The main reason is that the pool backing the token receives BTC daily, which increases its valuation in terms of Bitcoin and generates a yield superior to that of BTC itself.
The total portfolio is 7.97% below the investment. The impact of MicroStrategy's drop is well cushioned thanks to the performance of @EverValue.
Both EverValue and MicroStrategy should see a strong price expansion when Bitcoin rallies hard.
Right now, buying the dip with a clear plan is one of the best strategies to position oneself for the bull market.
Every fortnight I share how this exercise is going. It's these kinds of strategies that make a difference in good times.
Today is the time to plant, when the soil is at its most fertile. Later will come the harvest time.
In the next comment, I’ll drop the links to the Google Sheets file.
They’re saying that Bitcoin is decentralized and open, with thousands of nodes where no one controls it. Its biggest risk is a centralized, closed, private database controlled by a couple of nodes all together in an office of a bank?
🚨 Beware tokens and memecoins on #Robinhood Chain.
People are complaining that they buy tokens and then they disappear from their wallets.
These cases are happening with very dangerous scam tokens that have a highly sophisticated function in their contract: it looks like you receive the token normally, but the contract includes a “backdoor” that lets the creator steal your funds without asking you or getting your approval.
Relay is blocking these tokens as they appear and verifying safeguards.
Important: This is not a hack and not a problem with your wallet.
Your private keys and the rest of your balances are safe.
You only lost the money you spent on that fake token.
Recommendation: Trade only tokens verified by Robinhood or from trusted sources.
Sony thought that was the way forward, but things didn’t turn out as expected.
The #Soneium network, which once surpassed +$200 million in TVL, today barely has $7 million. In addition, it generates revenue of only $83 per day.
The network fell behind, and its time on the blockchain will be forgotten—far from the great successes the brand has built throughout its history, such as:
- Walkman - PlayStation - Trinitron (TV) - Compact Disc (CD) - Cyber-shot (cameras) - Bravia (TVs) - Discman - Sony Music - Sony Pictures
That’s the industry. What matters is to try and not fall behind.
✅ Beavis and Butt-Head are two idiots who always talk about what they’re going to do something epic, get extremely excited, shout, make noise… But in the end they never accomplish anything important and end up worse than before.
ETH and SOL are the Beavis and Butt-Head in this ecosystem.
What happened to ETH and SOL this cycle was disappointing: - Tons of hype (“Flippening”, “SOL to 1000”, “ETH to 10k”, breaking ATH in 10x) - A lot of speed and narrative - They get close to the previous ATH…
And then suddenly: They barely touch it, barely break it, and then fall hard again.
ETH and SOL have become the kings of the near-achievement. Always close to glory, but never quite crowned.
Meanwhile, Bitcoin is still the one that truly dominates.
#ETH = Butt-Head (the one who thinks he’s more serious and important) #SOL = Beavis (the one who’s faster and wilder)
But the two together = pure comedy of errors in the crypto market. 😈
NOTE: In 2021 SOL and ETH made a savage ATH; 4 years later in 2025 the peak of the new cycle broke the ATH by less than 10%, fully breaking the 4-year cycle in these Alts.
The market has just experienced one of the biggest sales by the greatest Bitcoin treasurer, and since it wasn’t apocalyptic, the impact. The market sees it as a bullish signal.
It seems the market understands that what doesn’t kill you makes you stronger.
✅ Velardón of BTC after the news of Saylor’s sale.
MicroStrategy makes a very large sale of BTC, and the market absorbs the sell-off strongly.
3,588 BTC sold for approximately $216 million
This leaves a lot of room to buy.
It gives a lot of breathing room to hold on for a long period until BTC rises again.
It sells at a loss compared to the most recent purchases, even the one from just two weeks ago.
But it makes clear that, in its Strategy, if it has to sell, it sells. And the market doesn’t flinch, like everyone expected it would fall hard.
Overall, I feel the outcome is good. We’re in the bearish phase, and Strategy is handling this situation well.
We need to stay alive and as strong as possible until this bearish stage passes. If it gets through it well—armed with a good amount of BTC in its treasury—then it will have a great haul of profits in the bull market.
- With the $2.55B in cash it currently has, Strategy has coverage for approximately 17.4 months (more than 1 year and 5 months).
- It has authorization to sell up to $1.250 billion; with the $216 million sale already executed, it has burned 17.3%. It still has up to $1.034 billion left to sell.
✅ El Salvador leads the per-capita Bitcoin exposure (excluding UAE)
Today El Salvador has more BTC per inhabitant than the US and China Incredible is the campaign of generational wealth that this nation is putting together.
According to recent data: 📌 El Salvador: 0.00120 BTC per capita. 📌 United States: 0.00094 BTC per capita. 📌 United Kingdom: 0.00088 BTC per capita. 📌 China: 0.00001 BTC per capita.
El Salvador has built one of the strongest per-capita positions in the world.
A clear and consistent strategy that positions it as a leader among the nations betting on #Bitcoin as a strategic reserve.