‏A well-known cryptocurrency trader, Harris, the owner of the account “Crypto with Haris,” revealed that one of his investing friends fell ill and was taken to the hospital after suffering losses of more than $500,000 in the cryptocurrency market.

Haris, a technical analyst and professional trader with more than ten years of experience in financial markets, and followed by thousands of investors around the world, shared this story in order to warn about the major risks associated with trading using leverage.

Leverage is a tool that allows an investor to open trades larger than their actual capital size by borrowing money from the trading platform, which multiplies potential profits, but at the same time significantly increases the size of losses.

Haris said in a post on X: “I just met my friend who was admitted to the hospital after losing more than $500,000 in cryptocurrencies,” adding that these losses represent his entire savings over ten years.

He explained that his friend was trading $RIVER, a cryptocurrency listed on the Ethereum network (and some other chains), operating within the River Protocol project, after it caught his attention due to its strong rallies; however, the use of leverage doubled the amount of risk, and as the price declined, his losses became extremely large.

Haris noted that his friend is still exposed to even greater losses, saying: “If his $RIVER position is liquidated, his losses could exceed one million dollars.”

He concluded his message with a direct warning to investors, saying: “Trading with leverage is extremely harsh,” a clear reminder that the greed to quickly multiply profits may lead to losing years of savings in a short time...
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