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Father of two facing the dire prospect of losing his family forever

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After surreptitiously accumulating up $180,000 in debt as a result of his crypto trading activities, a man who admits to being addicted to cryptocurrency trading and who is also a father of two faces the terrifying potential of losing his family for ever.

Reddit user “u/Leather Opposite2135” posted his account on the forum r/relationship advice on February 21. In the post, the user indicated that he began experimenting with trading cryptocurrencies around the year 2021.

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Fast forward another two years, and we find him living on the street now, having been booted out of the house by his wife and owing at least $180,000 in debt.

“At first, it was nothing more than a hobby,” said Leather. Since it deals with technology, I thought that aspect of it to be rather fascinating. Joined a number of online communities, including Discord, and after some time, saw a few individuals engaging in bitcoin trading. Afterward, I was instantly hooked.

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After just one year, he had already “burned” a total of $50,000 by trading cryptocurrencies, with the majority of the monies lost coming from his software company.

“Fast ahead another year, and it got very awful,” said Leather, adding that his addiction had begun to take root as he began to support his trading via other methods, such as personal loans and credit cards. “Skip forward another year and it became really bad,” added Leather.

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“I’m sure you’ve heard it before, but I found all kinds of methods to finance it, including acquiring personal loans, credit cards, and lying about all of it,” the speaker says. “I’m sure you’ve heard it before.”

“I gambled on my phone when I went to the restroom, while the kids were asleep, and on my computer when I wasn’t busy working,” the gambler said. “When I wasn’t busy working, I was gambling on my phone.”

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Leather said that around three weeks ago he finally told his wife the truth about the debt they owed. His wife did not react well to the news and threatened to divorce him and seize control of the home they shared together.

Since then, he has cut himself off from the cryptocurrency market, given his wife management of their trading accounts, and has been meeting weekly with a gambling addiction counselor. However, he admits that it was initially difficult for him to break the addiction to gambling.

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“Emotionally, the first two weeks were a mess for me. I was all over the place. I had to quit something cold turkey that I spent at least ten hours a day doing. While all this was going on, a still little voice on my shoulder kept encouraging me to go look at some charts.

Although Leather Opposite2135 has since removed the original post from Reddit, it is not the first nor the last tale to draw light on the potential consequences of being addicted to trading cryptocurrencies.

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Alongside the treatment of addiction to alcohol and narcotics as well as mental health issues, rehabilitation clinics all over the globe have started offering treatment for compulsive behaviors like cryptocurrency trading addiction.

“In a manner similar to gambling, many of them will claim that it interferes with their day-to-day lives, that they spend a great deal of time thinking about it, and that as a consequence, they may also be suffering financial difficulty.”

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Dr. Hronis pointed out that addiction to cryptocurrency trading is comparable to that of online gambling since both include a “easy of accessibility” that may be “very harmful for people.”

It is possible to see a person going about their typical day-to-day activities, such as going to work, spending time with family and friends, participating in hobbies, and so on, while at the same time trading alongside those activities. This indicates that a person’s addiction may genuinely progress to a significant level before anybody else in that person’s life becomes aware of it.

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“Considering how recently cryptocurrency trading has emerged, I believe that therapy is still playing catch-up to some degree. “While the broad concepts of treating an addiction may undoubtedly be applied here, there are peculiarities with crypto trading that would benefit from being better understood in order to better advise clinical therapies,” Dr. Hronis noted. “There is a lot of room for improvement in this area.”



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AI-powered project steals $1M from consumers.

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A project that is claiming to be a “AI-based” decentralized application has taken almost one million dollars from its users in what is suspected to be a scam. This comes at the same time that artificial intelligence (AI) has recently become a topic of interest due to the capabilities displayed by ChatGPT v4.

At the time of this writing, the blockchain security platform CertiK has just revealed that Harvest Keeper has been responsible for the theft of about $933,000 worth of customers’ money. According to CertiK’s findings, users on the Ethereum, BNB Chain, and Polygon networks have together suffered losses of around 219 thousand dollars as a result of ice phishing transactions. The cybersecurity company pleaded with customers to take back whatever rights they had granted to the initiative and cautioned users to avoid engaging with the organization’s website.

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The Artificial Intelligence (AI) initiative known as Harvest Keeper claims that it “optimizes the trading process for maximum payout” and guarantees a return of 4.81% on customer deposits. The platform advertises on its website that it would provide a return on investment of 101% within 21 days and an 8% incentive for referrals. The initiative has more than 32,000 people following it on its Telegram channel and approximately 30,000 people following it on Twitter.

On the other hand, in the midst of the renewed interest in ChatGPT on Twitter, hundreds of profiles on the social platform have arisen with the claim that they are associated with “CryptoGPT.” On March 10, a hashtag dubbed “CryptoGPT” that was related with an ongoing token project was trending on Twitter. As a result of it, a number of accounts that are quite similar to it have appeared, some of which advertise phony freebies. On top of that, dozens of Twitter accounts with the same name have been plaguing the social platform, and some of these accounts have been advertising freebies and airdrops that may or may not be real.

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Once the most recent version of ChatGPT shown that it was capable of auditing smart contracts on Ethereum, many people began to wonder whether or not it would one day replace coders. Yet, when asked about this topic at the most recent ETHDubai event, blockchain engineers voiced their confidence that the newest version of the widely used AI tool would not replace developers but rather assist them.



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Taiwan FSC to regulate crypto

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According to the president of the authority, the Financial Supervisory Commission of Taiwan (FSC) will take over as the principal regulator of cryptocurrencies throughout the island nation.

According to the local United Daily News, the head of the Financial Supervisory Commission (FSC), Huang Tien-mu, made the announcement that the regulator would acquire supervisory responsibility over the cryptocurrency market in Taiwan.

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On March 20, Huang gave a speech about the regulation of cryptocurrencies in the Republic of China before the Legislative Yuan in Taiwan (ROC). He said that the new crypto regulatory framework that will be implemented by the FSC would contain key laws and policies, such as the partitioning of consumer assets from corporate money and the implementation of investor protection procedures.

According to the source, the nation’s top administrative authority, known as the Executive Yuan, has given the Financial Supervisory Commission (FSC) the mandate to monitor payments and transactions in the cryptocurrency market at this time. Huang emphasized that other industry-related assets, such as nonfungible tokens (NFTs), may not come under the regulation of the Financial Stability Commission.

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Huang also said that the Financial Supervisory Commission (FSC) will first focus a lot of emphasis on the concepts of self-regulation in the cryptocurrency market in Taiwan. The official continued by saying that the authority will act in accordance with the directives provided by the Executive Yuan.

According to a report that was published by Taiwan’s Central News Agency, Taiwanese legislators anticipate developing and approving an appropriate crypto legal framework by the end of March or at the earliest by the month of April. According to reports, the goal of the present preliminary plan is to place the oversight of the regulation of NFTs within the authority of the Ministry of Digital Affairs.

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The announcement comes at a time when Taiwan is experiencing persistent tensions with China. The Chinese government views Taiwan as a renegade province, and it has pledged to bring Taiwan under its rule. China, which has emerged as a significant anti-crypto nation, will implement a total ban on crypto in 2021, in contrast to other jurisdictions in the Asia-Pacific area, such as Hong Kong or Singapore, which are crypto-friendly.



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Australian Bankers Association cost of living probe shows bank pressure

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The Australian Banking Association (ABA), which is the trade association for the Australian banking industry, has initiated a cost of living inquiry in order to investigate the impact that the COVID-19 pandemic, global supply chain constraints, geopolitical tensions, and other factors have had on the people of Australia. The purpose of this investigation is to determine how these and other factors have affected the cost of living in Australia. The primary purpose of this inquiry is to determine the degree to which these and other factors, in addition to Australia’s already high cost of living, have contributed to that level of expense.

The recent analysis of the rising inflation and concurrent collapse of three major traditional banks — Silicon Valley Bank (SVB), Silvergate Bank and Signature Bank — proved that more than 186 banks in the United States are at risk of a similar shutdown if depositors decide to withdraw all of their funds. These banks were Silicon Valley Bank (SVB), Silvergate Bank and Signature Bank. Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank were the names of these financial institutions. These particular banking establishments went under the names Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank respectively. These specific financial institutions were known by the names Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank, respectively, at one point in time. At one point in time, these particular financial institutions were known by the names Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank, respectively. The Australian Bar Association (ABA) is currently in the process of conducting an investigation with the intention of determining both the response of the fiscal policies of the Australian government as well as the means by which the cost of living in Australia may be lowered. The goal of the investigation is to determine both the response of the fiscal policies of the Australian government as well as the means by which the cost of living in Australia may be lowered. Both the reaction of the Australian government’s fiscal policies and the ways by which the cost of living in Australia may be lowered are the foci of the inquiry, the objective of which is to discover which of these may be determined. The aim of the study is to determine both of these things at the same time as part of its objective.



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