Sup fellow degens, 

Most days, I spend all my productive hours in serious calls, staring at analytics, talking big numbers, and occasionally nursing wounds from spins that fail the 1000x win.

The bear market is grinding us all. Liquidity is drying up, and the general vibe on the timeline is pure, uncut depression. 

Evening rolls in and I switch to Kick or Twitch, and enter an alternate reality.

Guys in Balenciaga hoodies are screaming at their monitors as x100 or eight figures flash across their screen. They are hitting millions in wins, so we are desensitized from the hurt of losing sometimes. 

But I believe that occasionally, we need a reminder that the darkest form of degeneracy doesn’t happen on the blockchain but rather in real life. 

When a true degen runs out of money in their bank, they just don’t stop. They look for fresh liquidity. And when the banks say no, they turn to the people who trust them. 

Friends. Parents. Acquaintances. Relatives. Colleagues. No one is safe. 

A report out of South Korea this week just gave us a detailed masterclass in what an addicted degen can do just to hit it one more time. 

Reports from South Korean media and the Busan police explain that a man, who they called A, decided that his need for gambling was more important than his relationships. 

After an unstable military career, A went on a stint without a steady job. First, he torched his own savings of about 30 million Won (a bit more than $20k) that he had saved from military service. 

Then, he went to his parents and begged and grovelled for another 40 million Won. He was given.

When that 70 million Won was gone (about $50k), he didn't stop. He started targeting his social network. 

The social engineering

When A had seen that he was done for and his liquidity was obliterated. 

He then contacted 11 different people, including former military juniors and old high school classmates. 

He used the classic bait: fabricating stories about urgently needing money for things like his father's hospital bills. He preyed on their willingness to help a friend in need. 

Somehow, with his lies, he managed to get another 42 million Won (~$30,000). 

The Destination

Where did all the money go? Did he help his family? Did he pay any hospital bills? 

The police confirmed that A swept though everyone because he had run out of gambling money.

Every cent went back into feeding his addiction. 

And then he just disappeared.

Gone into thin air.

The case was first reported to police in late August. Officers traced A’s movements across several regions before locating him in Gimpo, Gyeonggi Province, where he was arrested on the 10th of this month.

A pathological commitment to burning down everything in pursuit of a dopamine hit.

He treated his loved ones' bank accounts like his personal ATM. He just kept taking from them and feeding the slot machine. 

Nobody expected this from him, but slots turned him into a money-sucking ghoul.

In iGaming, it's very easy to see everything from a detached angle.

Some people forget that numbers on the screen are not just pixels.

And stories like these are the grim end-state of the unchecked pursuit of happiness.

That constant urge, “just one big win to fix everything," mentality takes over your entire existence.

That guy torched his most valuable relationships for a 1000x win (and that didn't happen). He ruined his reputation, his relationship, and his future. 

Keep your degeneracy contained. Gamble your stack. Ruin your credit score if you must. Deplete your savings to zero if that makes you happy. 

But the moment you start making shit up to get money from your high school mates, you've crossed the line. 

You're no longer a degenerate. You're a scumbag. 

Don't be the guy who rugs his family.

TL;DR: Guy loses all his money gambling, then starts lying to family and friends for more, torches every relationship he has, and goes on the run. Degeneracy isn’t fun when it leaves the screen.

Stay degen,

Dima