I will share my own true experience. November 2021 was the craziest time of the bull market. Various new coins, Tugou coins, and Meme coins are flying everywhere. Every day, people in the group are shouting that this coin is about to sell and that coin is the next SHIB. Although I have already lost one round, seeing those screenshots posted by others showing a tenfold increase in three days still makes my heart itch. One day, I saw someone in a group recommending a coin called SQUID, which is the token used to ride on the popularity of the Squid game. The people in the group said that this coin has increased 100 times in three days since its launch, and the project team has a strong background and is about to go public. I looked at the candlestick and it did rise sharply, igniting the FOMO emotion in my heart instantly. I rushed in and bought 50000 units. In the first two hours after buying, it did rise a bit again, and my floating profit reached 10000 U. At that time, I thought: this wave has stabilized, take another one. Then the next morning, I woke up and opened the exchange to find that the price had dropped by 60%. I panicked and wanted to sell, but found out that I couldn't sell it. On the page, it is displayed that the sale has failed, liquidity is insufficient, and the transaction has been rejected. I tried more than ten times, but failed every time. I quickly went to the group to ask, only to find that it had already exploded and everyone was asking why it couldn't be sold. Then someone checked the contract address and found a fatal issue: in the contract code of this coin, there is a function that can only be called by the project party, which can prohibit everyone from selling. That is to say, only the project party can sell, we retail investors can only buy and not sell. This is a typical Pixiu disk. The project team collected enough money, locked the selling function directly, and then the funds ran away. My 50000 U is gone like this. Some people in the group lost hundreds of U, some lost thousands of U, and some even added leverage and went bankrupt. That was the first time I personally experienced what it felt like to buy something but not sell it. That feeling is even more unbearable than losing money. You're not losing money, you've been robbed, and you don't even have a chance to resist.