4 Incredible Stories of Large Earnings on Crypto

Annabella Cornelly

Cryptocurrencies are a dynamic field that has expanded greatly over the past years. The speedy growth of the tokens’ exchange rate has attracted many new players. Despite the instability of digital assets makes them a risky investment, their high profitability allows users to earn. Not everyone is included in the Forbes lists, but the experience of traders and investors inspires. Somebody was lucky to get rich, and someone lost funds. Here are the four most astonishing stories out there, handpicked for you by the Newsblockchain team 

Eric Fineman

In 2011, when Eric was just 11, his grandma gifted him $1,000. The young man’s brother recommended him to finance in the BTC. At that time, Bitcoin cost only $12. After 2 years, he sold his very first Bitcoins for $1200, turned his grandmother’s thousand dollars into $100,000, and opened an online educational establishment.

Faymann did not like to study in high school. He argued with his close relatives that in case he became a magnate by the age of 18, he would not go to a higher institution. At the beginning of 2015, he got an offer to sell his business for $100,000, or 300 BTC. Fineman chose BTC and came to be a crypto millionaire by the age of 18.

Jeremy Gardiner

Gardiner bought bitcoins in 2013 on the advice of a friend. The investment paid off, and Jeremy became a millionaire. Currently, Jeremy is a BTC millionaire with a real digital currency castle in San Francisco, where crypto fans from all over the world gather.

He calls his home in San Francisco "Crypto Castle,” where he receives crypto enthusiasts from all over the world. According to Jeremy, many people who stayed at his house became millionaires. There are rumors that around half a dozen members have indeed been able to raise a fortune on digital assets.

Olaf Carlson-Wee

Carlson-Wee was a fervent fan of crypto at university . He even wrote a dissertation about  Bitcoin! Nonetheless, the professors were skeptical with the selection of the topic. Later, in 2013, when the leading token cost $20-30, Carlson-Wee started working at Coinbase, the Bitcoin startup. In just over a year, the young man turned $14,502 into $150 million.

Today, Olaf is one of the leading cryptocurrency entrepreneurs. He manages an investment Fund with a capitalization of 1 billion US dollars.

Changpeng Zhao

Changpeng has an amazing biography that can be the subject of a movie. Zhao was born in China, and later his family moved to Vancouver. As a teenager, Zhao worked a lot at McDonald’s and a gas station. He studied computer science at McGill University and worked in various fields, including comparing trading orders on different exchanges.

In 2013, while playing poker, Zhao learned about digital assets and gradually dived into the market. Initially, he was hired by  Blockchain.info, then collaborated with Roger Ver and Ben Reeves. Later he took up the position of Technical Director of OKCoin. In 2017, Zhao attracted millions to create Binance — one of the largest crypto exchanges to date.

Recent stories of large income

Recently a trader significantly increased his funds by taking part in a decentralized platform in an ICO. One luckier dealer got BTC for joining the experiment. There have been several cases when people earned tokens illegally and had problems with the law.

For instance, on July 13, an anonymous trader earned over $500 thousand in crypto assets in 30 minutes. This was caused by the opening BZRX token presentation on the Ethereum-based platform called Uniswap.

The trader made a spam attack on the token network at the beginning of sales. Thus, other platform users could not contribute to the token offering instantaneously. Throughout this delay, an anonymous person purchased around 2 million BZRX tokens for less than $150 k.

Within one hour after the suspension, the dealer was selling the coins at an exaggerated rate to the exchange’s customers who arrived in time. As a result, he got 2,030 ETH or approximately $500 thousand. The person left an additional $50 thousand in BZRX coins. To learn more about current news in the crypto industry, visit News Blockchain platform.

An analogous occasion occurred in June. Financier Alistair Milne set up a tryout on Twitter to test how much time it would take to hack a crypto wallet. For that, Milne generated an address, moved one Bitcoin there, and shared guidelines with his followers on how to get access to the coin.

The tycoon separated the key to the address containing the token into some fragments and posted puzzles. The solutions to them led the contestants to victory. However, before the entrepreneur announced the last hint, he discovered that his Bitcoin was gone from the e-wallet.

Later, he learned that a hacker unexpectedly got involved in the experiment. He could reveal the remaining part by selecting it or using special services that restore lost keys to wallets with cryptocurrency. This operation lasted 44 hours. During the process, he received nearly $10,000.

Besides, some people got wealthy legally. One of the fortunate was the American dealer, Richard Dobats. For the last three years, he has received $15,000 of lent money that equals $1 million via the Robinhood app by trading securities and options.

His success did not last long. It lasted until the 2020 crisis began. Because the stock market collapsed, the trader’s fortune swiftly drained from as much as $1 million to $7 thousand. The dealer had to request an additional $30 k loan to pay off the credits.

Hacking talents have been crucial in two situations. However, these cases cannot be attributed to fraud. In the following two stories, luck related to official charges. As reported by the US Department of Justice, a Houston resident illegally got $1.1 million from the authorities, allocated as support to the pandemic.

The funds were intended to be used as personnel’ wages — he indicated that in the application loan sent to the bank. Yet as the investigation revealed, the firm did not have any payment arrears, and part of the funds got from the state was spent on tokens.

The US court scrutinized one more ambiguous story on July 15. In line with the FBI, Douglas Kim, as a US citizen, fraudulently attracted million-dollar savings in crypto assets. For the last three years, he has repeatedly offered to his contacts to lend cash for “reliable investments.”

Kim suggested investing in virtual assets, including BTC and ETH. Consequently, he earned over $4.5 million. However, the funds were not spent on coins. In its place, the offender lost a part of them in an online casino. Eventually, he has been sentenced for up to 20 years and fined $250,000.

Should you buy crypto?

The cryptocurrency sphere is under development. In exchanges, there is still much vulnerability that hackers may exploit. Besides those who have earned millions, some users have lost everything because of their inattentiveness. On the other hand, success stories motivate and encourage traders to take risky actions. These lucky people have proven that one can succeed by taking a risk! Even a random purchase can bring abundant profit! To be able to make educated investments, check out the latest News Blockchain updates.