From State-Owned Enterprise Executive to Ride-Hailing Driver: The Rise and Fall of an Ordinary Person in the Crypto World

Recently, a video by a Bilibili content creator has attracted widespread attention. The video documents the story of a man who was once the deputy factory director of a state-owned enterprise in Handan, Hebei, and fell into a debt of 3 million due to losses from coin trading, leading to a drastic decline in his life. This real case reveals the risks and challenges faced by ordinary investors in the crypto world.

The protagonist, who calls himself "Zheli Chongsheng", once had an enviable life. He served as the deputy factory director in a state-owned enterprise, had a monthly salary of 9,000 yuan, no mortgage, drove an Audi, and managed a team of 20-30 people. After getting married in 2018, he and his wife had a five-year-old daughter, and their family was happy and complete. However, all of this has now become a thing of the past.

The reality is cruel. In the video, he shows the interfaces of various loan apps on his phone and his debt situation. He owes more than 100,000 in loans from just one app, and has lost a total of 3 million in trading coins. To pay off his debts, he drives for a ride-hailing service for 13-14 hours a day, barely making enough to survive. Renting a single room for 600 yuan/month with a private bathroom has become his last semblance of dignity.

Massive debt looms like a shadow, with annual interest reaching 200,000 to 300,000, and most loans are now overdue. The family has also been shattered as a result: two months ago, the wife filed for divorce due to the debt crisis, taking their daughter with her; the parents are completely disappointed in him, with the father even writing in a text message: "This family no longer has you, everything about you is over."

His journey in the crypto world began in 2020. Initially cautious, he was soon lured by the temptation of high returns. To gain more profit, he started chasing higher-risk altcoins and tried high-leverage contract trading. This trading method can amplify the principal, but it also significantly increases the risk.

He describes his investment strategy as "using a blunt knife to cut meat"; it is not about betting all his assets at once, but rather gradually increasing his investment. However, the lack of stop-loss awareness and trading discipline has led him to blow up his account time and again, borrowing money to cover his losses.

Between 2020 and 2025, he raised funds multiple times through online loans, borrowing from friends and family, and mortgaging properties, in an attempt to turn his fortunes around in the crypto world. However, each attempt ended in failure, and the scale of his debt continued to grow. Eventually, his total debt exceeded one million, and his life completely fell apart.

This case has sparked widespread discussion both within and outside the crypto world. Some people express sympathy, believing he is a victim; others criticize his reckless behavior as lacking rationality. Regardless, this story serves as a wake-up call for us: in the high-risk cryptocurrency market, ordinary investors can easily find themselves in trouble.

Although the future is full of uncertainty, I hope he can learn from this experience and replan his life. For other investors, this story also reminds us to stay rational, control risks, and not be blinded by short-term gains. On the road to investment, prudence and caution are always timeless virtues.