$50 Million Gone in 10 Seconds — Crypto’s Latest Disaster
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How to lose $50 million in less than 10 seconds. I’ve been around the block, as many of you know, I’ve covered every major financial fraud, scam, you name it. We warned people about Madoff, a myriad of different things, and our 26 years on air. But I have to say, I have never seen this before. Never seen this before. A Aave Labs founder said a crypto user attempted to buy Aave using 50 million USDT through the Aave interface, but only received $36,000 worth of the token in return. They said that the transaction executed according to the parameters of the signed order. Now, again, this, again, I guess some bot stepped
in between and saw some sort of disconnect and there wasn’t enough of a to fill the order and I’m trying to follow this whole thing and honestly it reminds me of like math class when you had a bad math teacher and you start falling asleep and drool starts coming out the side of your mouth. Let me give everybody a bit of advice that has served me quite well and my clients quite well. If you don’t get it.
Stay the hell away from it. There is a scene in the movie Big. You youngsters, if you haven’t seen it, shame on you. Tom Hanks film, really good. Anyway, in a movie Big, this young boy becomes a man, magic, whatever it may be. That’s Tom Hanks. And he’s working at a toy company. And there’s this big wig there explaining this toy, and he’s an actual kid. And he understands toys, he plays with them.
and they’re trying to say how great pitch this toy, how great it is. And he’s like, raises his hand. I don’t get it. I don’t get it. How is it fun? And the executives are all flustered by it. But guess what? He was right. I don’t get it. I don’t get it has saved me hundreds of millions of dollars over the years. And again, you know, I’ll use another one from the movie, Margin Call.
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Explain it to me like I’m a small child or a golden retriever this stuff
This stuff is a scam. Okay? All the writings of a scam. That’s all it is. again, you’re gonna see more and more people lose their shirt because of this. But yes, in less than 10 seconds, this guy lost $50 million. Watchdog on wallstreet.com.
