The Greatest Fumbles in Crypto History

Some traders turned down life-changing sums, others miscalculated market moves, and a few fell victim to brutal scams. These are some of the greatest fumbles in crypto history decisions that altered lives forever.

1. Richerd Chen Turned Down $9.5M for His CryptoPunk #6046

In 2021, Richerd Chen received a staggering $9.5 million offer for his CryptoPunk #6046. However, he declined, believing the NFT was integral to his personal brand. While it’s hard to determine its current value, estimates suggest it wouldn’t fetch more than $1-2 million today, a costly decision in hindsight.

2. A Whale's $12M Trump Trade Gains, Wiped Out Completely

One trader struck gold with an early trade in $TRUMP, netting a near $12 million profit. Unfortunately, his luck didn’t last. He took a $24.3 million loss on his second trade, lost another $201,000 on his third, and later sold $7.9 million worth at a $3.3 million loss. The final tally? A staggering $15.7 million down.

3. Machi Big Brother’s $16.7M Gamble on $FRIEND

Machi Big Brother, a well-known whale, invested 5,200 ETH (around $16.7 million) into 11.1 million $FRIEND tokens. Today, that bag is worth close to zero. A textbook case of how even seasoned investors can miscalculate market sentiment.

4. A $45M Roundtrip on $EIGEN

A whale aped into $EIGEN with $33 million. At its peak, the investment was worth $55.4 million. But instead of securing profits, he held on only to see the value plummet to $9.8 million. A $45 million roundtrip that proves greed can be a portfolio’s worst enemy.

5. The $70M Shiba Inu (SHIB) Mistake

In 2020, a trader in Dubai bought 5 trillion SHIB for just $4,000. However, after a market dip, he panicked and sold at break-even, fearing further losses. A few months later, SHIB skyrocketed. If he had held, his $4,000 investment would have turned into a jaw-dropping $70 million.

6. The $68M Address-Poisoning Scam

One trader fell victim to an address-poisoning scam, losing a staggering $68 million in wrapped Bitcoin (WBTC). The scammer created a wallet address that looked almost identical to the trader’s real one. Without noticing the slight difference, the trader sent his entire balance to the wrong address, an irreversible mistake.

7. The $156M Panic Sell of $WIF

A trader bought 40.7 million $WIF for $10,000 just two weeks after its launch. Three days later, fear took over, and he sold for a $5,000 loss. Had he held onto his tokens, that same bag would have been worth $156 million by April 4. This was one of the most painful "what if" moments in crypto history.

8. The Most Famous Fumble: Bitcoin Pizza Day

In 2010, Laszlo Hanyecz made history by buying two pizzas with Bitcoin. At the time, he paid 10,000 BTC for the order. At today’s prices, those two pizzas cost him approximately $885 million, making it the most expensive meal ever paid for in crypto.

Lessons Learned: The Fine Line Between Genius and Regret

The crypto market is a wild ride, full of opportunities and pitfalls. Whether it’s holding too long, selling too soon, or falling for a scam, these stories highlight how critical decision-making is in this space. The key takeaway? Risk management, patience, and security measures can mean the difference between fortune and failure.

So, the next time you're faced with a tough trading decision, remember these fumbles and think twice before making your move.