Written by: Maher, Foresight News
The place to acquire wealth through trading has long been beyond just exchanges and DEXs. Imagine when you open the Polymarket page, sitting in front of your computer, staring at the price chart of Bitcoin. On the screen, the interface of the Polymarket platform flickers with the orange Bitcoin icon, and you bet your entire fortune—just $12—on Bitcoin rising within a certain timeframe. The market odds are highly uncertain, but based on your analysis of on-chain data, news trends, and candlestick patterns, a few hours later, the market settles, and you win, doubling your account balance to $24.31. But this is just the beginning. You take a deep breath and continue to go all-in on the next bet, and you win again, bringing your balance to $40.35. Just like that, with each all-in operation, you accumulate victories like a snowball.
Starting from just a few dozen dollars, going all-in, winning time and again, ultimately earning over $100,000—this is not a dream, but the remarkable feat of the account @ascetic0x.
The wealth story of ascetic quickly went viral, with 4.21 million views, 13,000 likes, and 8,000 saves. In the comments, some exclaimed "legendary," while others lamented, "Only Polymarket can allow small retail investors to make a comeback."
Perhaps, in the hearts of every Polymarket player, there has been a dream of making a fortune from a small investment. Ascetic's wealth story acts like a shot of adrenaline, giving every player hoping to "change their fate" infinite hope.
But the truth of the story is far from the glamorous surface.
Just one day after his highlight tweet was published, Twitter user Moses posted to reveal the truth, creating multiple Polymarket accounts and then disclosing the most successful operation.
Moses questioned, "Why did his first post have a $3,000 balance? The answer is simple: he is operating a large-scale witch account. He didn't start with $12; instead, he maintained hundreds of accounts, each funded with $10 to $20. Once one of the accounts rose to $2,900, he immediately started posting. Since then, he has made a total of 7 trades, all of which were wins. But notice, he went all-in every time. No real trader would play like this."
Moses criticized him for chasing traffic and seeking attention, willing to do anything for fame. Ascetic even allegedly used other small accounts to wash trade his final transaction, forcefully filling orders at the price he wanted because normal orders couldn't fill enough volume. Moses stated not to blindly trust these so-called "internet celebrities" and to do your own research before deciding what to believe.
He also posted some of ascetic's failed witch accounts, which at most only reached $1,000 before collapsing.
These accounts were created 7 months ago, initially linked to random markets for 5 months, and then started all-in on short-term Bitcoin markets 2 months ago.
Some accounts quickly lost all funds, some reached hundreds or nearly $1,000, but only one "survived" to $2,900 and went public.
This method resembles some cryptocurrency market analysts who open both long and short positions, trading with multiple accounts, and regardless of market fluctuations, they can always pull out screenshots of profitable trades, gaining traffic and attention amidst the astonishment of "winning again."
The controversy quickly escalated.
On January 18, facing overwhelming skepticism, ascetic responded again on Twitter, stating, "In the past 24 hours, I have received more hate and threats than at any other time in my life. Some KOLs, in order to ride the wave and gain traffic, deliberately spread false information about me, organizing hate attacks under my posts. Some people didn't even bother to check my homepage and just started attacking, completely unaware that I have been publicly recording my trading logs on X for the past two months. They accuse me of operating a bunch of small accounts, but they can't provide any accounts or evidence that these accounts ever existed. I have nothing to do with Sybil farms; this is pure nonsense."
Ascetic also warned users not to follow his trades blindly, as the strategy carries extremely high risks, and trading this way long-term will almost certainly lead to liquidation. The reason he uses such an aggressive approach is simply because he believes he is a good trader and wants to prove his skills, establishing himself in the Polymarket Trade community.
What is the truth? Perhaps it remains a mystery, but this incident offers profound insights for ordinary players.
Do not blindly follow KOLs. The success of others is often difficult to replicate, and there are no true big players in the market acting as benevolent deities to lead people to wealth. In the trading market, the immense wealth you think is within reach is often far away.
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