After a roller coaster ride, he ultimately returned all the money he earned back to the market.

Written by: Ma He, Foresight News

Recently, a screenshot of Spider's log spread rapidly on the X platform. In the log, this trader, who has been active in the DeFi and meme coin sectors, detailed thoughts of suicide arising from consecutive massive losses, attributing them to a gambling mentality, wrong chat rooms, and blindly following others, expressing a fear of the thought that "death is a relief."

The incident quickly escalated, triggering intense discussions in the community about crypto speculation culture, risk management, and mental health.

The Twitter account Trading axe expressed no sympathy for this person, even angrily stating, "You tell me a grown man made a fortune from virtual money online and then lost it all, and now feels the need to share this 'I want to commit suicide' thing with the whole world? Alexander Wice lost 1 billion dollars in 2021 due to excessive leverage, without complaining, without making excuses, and then kept moving forward."

However, some community members comforted him, saying, "SBF also suffered heavy losses and was sentenced to 25 years, but he survived, so you shouldn't be like this."

The protagonist, Spider, quickly responded in the comment section of his tweet, "Actually, it was just something I posted for a minute and then someone took a screenshot. Additionally, he added that this text was published months ago and encouraged himself."

So who exactly is Spider? What happened in the past?

Peak at $15 million for a single address

Spider's X account is @SpiderCrypto0x, and he runs the Telegram channel SpiderCrypto Trading Journal (with about 33,000 subscribers). The content focuses on sharing trading insights in DeFi, NFT, and meme coins, emphasizing on-chain data verification. His bio often mentions collaborations with platforms like Rainbet. He joined the X account around August 2020 and was active in the DeFi field in its early years.

During the DeFi Summer of 2020, Spider was already active in trench trading. Twitter user CryptoCaligh, among others, recalled in his post on June 22, 2026: "I was one of those who personally bought DeFi coins with Spider in the trenches. I have been observing his methods since 2020, and it's nearly 7 years now." His style is known for being aggressive and high-leverage, often able to quickly amplify positions in a bull market. During this time, he gradually accumulated influence by sharing trading viewpoints through TG logs and X.

In the 2021 bull market, Spider achieved significant profits (some users mentioned 6-7 million dollars in a short period). However, in the 2022 bear market, he nearly lost all his fortune (the community estimates a net worth close to 10 million dollars). More seriously, he faced tax issues—due to flaunting gains in public, he attracted the attention of tax authorities and owed about 4 million dollars.

According to CryptoCaligh’s recollection, he later negotiated with the government for installment payments and received help from old friends to gradually pay off the debt through further trading. This phase exposed the vulnerability of his high-risk strategies during a bear market and became the starting point for his reflection on "false confidence."

Spider himself publicly shared his main holding wallet address for TRUMP in a post on X (J9HqxT4U39B45YcXxL4B1GZzdhSrXFr2N2Lam4bXrQeB). According to Arkham data, the disclosed address reached a peak of 12 million dollars in December 2024 before declining. On January 20, 2025, due to TRUMP coin, the account funds soared from around 1.5 million dollars to 8.5 million dollars. After reaching a high, the funds began to decrease steadily, and by March of that year, the balance was almost gone.

He reflected: "Past success can give you false confidence, making you believe you can do it again. This is also one of the reasons for my disastrous failure."

Arkham data shows that this wallet address alone transferred to Pump.fun up to 36 times. It is speculated that he may have ended up losing significantly in PvP.

Currently, his Twitter homepage continues to post trading-related content on X, indicating that he remains active in the market.

From big gains to massive losses, gambling and trading often differ by a thin line

Those in power are confused, while bystanders see clearly. User CryptoCaligh pointed out his real problem sharply.

"He once invested 40,000 dollars at the peak price, and it could turn into 500,000 dollars in one day. This kind of operation is indeed effective in a crazy bull market, but when the bull market retreats, you will also lose the money you gained at the same speed. Gambling and trading are only a thin line apart, and many people fall into it. Once addicted, it will destroy you."

Moreover, he further expressed, "What’s the point of making a few million and then losing it all? That was just a dream. You need to think clearly: are you here to invest and aim to make a few million, or are you an already addicted gambler?"

In the crypto cycle, cases of "getting rich quickly - going to zero - psychological collapse" repeatedly occur. During the bull market of 2021, a large amount of liquidity flooded in, making it easier to make money, while the crypto circle in 2025-2026 is already not the era of easily picking up money. Many concepts have been disproven, VC coins have been abandoned by the community, and meme coins have become weary of the endless PvP, with market trading difficulty increasing exponentially.

Those who can survive in the long term typically maintain profits during the bull market, establish diversified portfolios, and cultivate non-trading identities.