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The researcher shrugged off the accidental destruction of $58,000 worth of PUMP Tokens: focusing on controllable matters.
Slipped and lost $58,000
Last Sunday, Min Yu accidentally destroyed the PUMP token, mistaking it for a fake token while using the burn feature of Axiom Exchange to clean up junk tokens in his wallet. "Burning" in the blockchain refers to permanently sending tokens to an inaccessible address (a non-reversible operation in cryptocurrency). A few hours later, he realized his mistake through Twitter: "I was still thinking 'this guy is really unlucky,' only to find that the wallet address in the screenshot looked particularly familiar..."
Hedge Strategy Unexpectedly Fails
As a professional blockchain analyst (on-chain data researcher), Min Yu admitted to having a "bearish" outlook on the long-term trend of PUMP. He originally planned to implement a hedging strategy: holding $40,000 worth of PUMP purchased at $0.004 during the ICO, while shorting in the $0.005-$0.007 range. This incident reduced his theoretical profits by $58,270.
He told Decrypt that despite losing $58,270 worth of cryptocurrency, he is not "sad or angry" because he prefers to focus on things he can control.
"Since things have already happened and cannot be reversed, there is nothing to worry about," Min Yu said with a smile. "This is one of my life principles: focus on what you can control," he added in a social post.
Other users are also trapped in the "burn gate"
On-chain data from SolScan shows that this is not an isolated case:
"Issue Complaints Coin to Recover Losses?"
Min Yu jokingly said that if time could turn back, he might issue a meme coin called "Fuck Pump": "People would think I'm intentionally going against Pumpfun, and maybe I could make back the losses." He finally added that this is all just a joke and reiterated his life motto: "Focus on what can be controlled."
Note: This article involves high-risk operations in digital assets and does not constitute investment advice.