People who suffered at the hands of Mt. Gox know what it’s like. The worst hack faced by the crypto world had many people bawling in front of their computer screen that day. Though it was the biggest Bitcoin loss that affected many people, many more have had devastating experiences apart from it.
Chris Larsen and his $44 billion
Yeap, you read it right. Chris Larsen the co-founder of Ripple, created a coin to better manage bank transactions but couldn’t manage his own money well. The coin was trading at $3.65 and he entered 2018 with $16 billion to his name.
Then as the coin started to drop, one thing led to another and Chris lost most of his money. Though he still owns $16 billion and is far from being poor but imagine all the places he could have bought with his $44 billion. As for Ripple, it has come down to 45 cents and continues to drift down the rabbit hole. Chris, we truly feel sorry for you.
We think you truly need it.
Twinkle Toes and Winklevoss Twins
Sometimes opting an easier life is the better option instead of going against the current. The Winklevoss Twins didn’t make any such decision. After helping in create Facebook, they didn’t turn to a life of ease and instead went for the raging storm of bitcoin.
The twins, Tyler and Cameron, both paired and bought 120,000 bitcoins. This was back in 2012 when bitcoin was just at $10 each. When bitcoin peaked, their holdings were worth $2.34 billion which have now come down to $720 million. Though they have lost $1.62 billion, they are not crying hard over their lost fortune.
Wretched Tale of a Dumpster
The aforementioned people might be able to get over their loss but here, James Howell, might not. The British IT worker got into cryptocurrency early and successfully mined 7,500 bitcoins in five years (2005-13).
He sold the laptop but kept the hard drive. However, during a cleaning day later that year, he chucked out his drive by accident which later ended up buried in a landfill in Wales.
At Bitcoin’s peak, the drive would have worth more than $146 million. The dump site has refused James to dig out the drive due to environmental risks. So, amidst the waste, now lies a giant pot of gold.
Derek Rose’s crypto flower didn’t really bloom
The thrill of it dragged Derek to his loss. Derek who started bitcoin trading in the year 2013 was doing pretty well at first. He was being careful and was making wise decisions. After a couple of successes, he got the bitcoin fever and traded in even more money against the advice of his friends who were telling him to keep his head on the ground.
But Derek was soaring high. After a while, the reality hit hard on Derek and his investment came crashing down. He lost most of his money.
And, folks that’s what happens when you give in to the greed.
