The math funeral of big tech programmers: tens of millions in assets wiped out, all because I tried to "arbitrage" madness with logic!

Don’t talk to me about coding logic or algorithm models.

In the crypto world, your so-called proud intelligence, in front of the ruthless main players’ scythe, isn’t even worth a string of error codes.

Yesterday, a fan came to me for drinks, and he got completely drunk.

Let’s call this guy Ah Qiang. A backend expert from a big company, a logic fanatic, full of pride to the bone.

From “Accidental Success” to “Ten Million Myth”

Ah Qiang’s journey into the crypto world sounds like a hero’s story.

In 2017, to test his company’s distributed storage performance, he casually bought a few Ethereum as experimental material, then threw them into his wallet to gather dust after testing. Three years later, while cleaning out old hard drives, he found the private key, logged in, and was stunned—tens of times the increase, directly giving him enough for a down payment on a Beijing apartment.

This unexpected wealth marked the start of his arrogance.

In the summer of 2020, during DeFi’s boom, he used his technical advantage to code a launchpad bot overnight. While you were still manually clicking to grab quotas, his program had already completed liquidity mining in milliseconds.

That year, he made millions in initial capital as if picking up money.

He even openly mocked retail traders watching the charts: “Crypto is just a low-level math game. As long as the logic is right, it’s a cash machine.”

The “Moment of Death” for Mathematical Models

To pursue “absolute rational arbitrage,” Ah Qiang secluded himself for half a year, developing an automatic trading model based on volatility.

He firmly believed: as long as the backtest data was sufficient and the logic rigorous, the market was his backyard.

Until that black swan event happened.

That night, the market suddenly started free-falling without warning. Ah Qiang’s model detected anomalies, but logic judged it as “extreme oversold, bound to be strongly repaired.”

The model began executing its “rational” instructions: automatic re-adding to positions, increasing leverage automatically.

Ah Qiang stared at the screen, palms sweaty, but he didn’t intervene manually. Because he trusted logic, he thought “mathematics doesn’t lie.”

But he forgot that the main players in crypto are experts at slaughtering such “logic monsters.”

That night, a piercing “death needle” shot across the screen, shattering everyone’s psychological defenses. The model was frantically hedging, but liquidity had dried up.

A slight position of 1.5x, faced with extreme needle insertion, had no time to react.

With a “bang,” that was Ah Qiang’s heartbreak, and also the sound of millions of assets turning to nothing.

His proud volatility model, in front of crazy human nature, became a one-way ticket to hell.

From Ten Million Net Worth to “Workplace Consultant”

Now, Ah Qiang has returned to the workplace as a technical consultant.

His savings are gone, all spot profits lost, the only comfort is that he still has dozens of “big pancakes” he couldn’t sell back then.

He told me something at the dinner table, and I hope you all remember it:

“Never try to arbitrage madness with logic. When probabilities favor you, go all in; when you don’t understand, holding cash is the top wisdom.”

You think you’re writing a code for wealth?

No, you’re actually writing a “harvesting guide” for the main players.

Remember one thing from the blogger:

This market doesn’t need heroes, only survivors. Living longer is the only way to get rich quickly.

If you still refuse to believe and insist on using your own capital to challenge the main players’ harvesting machine, then I can only wish you when the margin call SMS arrives, you can still sleep soundly.