In the bustling city of Hangzhou, Chen Zhichao, born in 1998, and Liang Xi, born in 2002 in Lixia District, Jinan, were close friends and comrades in the cryptocurrency circle. However, a dispute over private lending pushed them to opposite sides of the court. On August 12, 2024, the Lixia District Court of Jinan City opened a trial of the case, but Liang Xi was absent.

Chen Zhichao holds an IOU issued by Liang Xi via video on September 14, 2023, proving that Liang Xi owed him a huge principal of 1,000,535 yuan. However, Liang Xi never returned a penny. In the end, the court ruled that Liang Xi should return all the principal and interest, and the case handling fee of 17,760 yuan, of which Chen Zhichao should bear 3,860 yuan and Liang Xi should bear 13,900 yuan.

As soon as the news came out, the cryptocurrency community was in an uproar. Liang Xi, who was once so successful, is now in debt, and there are even rumors that his father may pay off his debts on his behalf. Fans are concerned: When will Liang Xi go to jail? However, there are rumors on Weibo that he may pretend to be in jail to evade debt. Some people even mentioned that he has a certificate issued by a mental hospital, which can help him escape more serious legal responsibilities.

From a talented trader to a man deeply in debt

Liang Xi, once known as the "genius boy" in the cryptocurrency circle, once made a huge profit of 20 million yuan with a capital of 3,000 yuan in 2021, shocking the entire cryptocurrency circle. His trading skills are sharp and he dares to operate with high leverage, and he is regarded as an idol by many leeks. However, the ever-changing market and external emotional factors have caused his trading journey to go downhill.

Chen Zhichao said with emotion: "I used to think that Liang Xi was a man who donated a lot of money, was loyal, and had no problems with his character. Now it seems that he is getting worse and worse. I don't know whether it is the market that has changed him, or he himself has changed."

Liang Xi's appearance has also changed dramatically. His once handsome face is now dull, irritable, and swollen, as if he has become a different person.

The devastating effects of a gambler’s mentality

Contract trading in the cryptocurrency world is like a gamble. Many investors, influenced by Liang Xi, have become obsessed with high leverage operations, believing that leverage of 100 or 125 times can make them rich overnight. However, what often awaits them is a loss of all their money.

An industry insider pointed out: "Trading requires good cognition and technology, but also a good mentality and self-control. Without a strong heart, no matter how strong the technology is, it will be useless."

Liang Xi's story is a microcosm of countless traders who are addicted to gambling. They are unwilling to improve their own level, but just immerse themselves in gossip and ignore the risks of the market.

Behind the fall from the altar

Liang Xi was once active on Weibo, frequently "fighting" with various big Vs, claiming to correct the trend in the cryptocurrency circle. However, this behavior was questioned as a way to gain traffic and deviate from the main duties of a trader. When a trader wastes time and energy on various gossips and disputes, trading performance will naturally be unsustainable.

What is even more shocking is that Liang Xi's love story has also attracted widespread attention. His girlfriend earns money by working as a hostess in a bar to support him in contract trading. Liang Xi even encourages fans to support his girlfriend's work. This series of actions has caused many people to say that their "three views are completely shattered."

Although he seemed to be full of energy on the Internet, Liang Xi had repeatedly revealed that he had thoughts of committing suicide. At only 21 years old, he showed excessive extremes and madness, which made people sigh.

The market is ruthless, so be cautious when trading

Liang Xi became rich overnight in the "May 19" incident, but he failed to realize that this was an accidental success caused by the market's one-way plunge. Later, the violent market fluctuations made him lose everything. As the saying goes, "When the wind blows, even pigs can fly; when the wind stops, pigs fall to their death."