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How people make millions in crypto: 5 stories of lucky breaks

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The crypto market offers numerous opportunities for earning money. Many have heard success stories where the main characters made a fortune with just a few clicks. Unfortunately, such tales often lack any proof. The itez team decided to prove that these cases are not fake pulp fiction. That is why we have contained in one review five real stories of making money in crypto.

Story #1: 5 hours, a few dollars, and $63,000 in the pocket

On March 11, 2024, Lookonchain analysts reported the incredible success of a trader who turned $4 into $63,000 in just five hours by trading the meme coin BALLZ. The trader spent 0.025 Solana (SOL) to purchase BALLZ tokens and then sold them for 428.15 SOL during a significant price surge of the coin. At that time, the meme coin’s price skyrocketed by an impressive 380,000%, bringing the user $63,400.

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Some operations of the lucky trader. Source: Lookonchain

Some Lookonchain followers believe that insiders or even scammers manipulating the market might be behind such deals.

Story #2: turning $83 into $79 million with PEPE

On May 21, 2024, the Lookonchain team discovered a long-term investor who managed to turn a few dozen dollars into several tens of millions. The unknown investor used $83 to purchase the meme coin PEPE. He held the tokens since 2023 and achieved a significant profit of $79 million due to the sharp increase in the cryptocurrency’s value.

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Some operations of the lucky trader. Source: Lookonchain

The trader’s incredible success sparked a debate online about who is really behind the transactions. Some in the crypto community are convinced that a simple investor without insider information could not have earned so much, while others argue that he was just lucky.

Story #3: 0.1 ETH to $8 million in less than a week

On April 2, 2024, Lookonchain analysts shared a story where the main character does not hide behind anonymous blockchain addresses. This story is about a trader nicknamed @LarpVonTrier on X, who earned $8 million (23,770x) in six days using the meme coin Keyboard Cat (KEYCAT). 

@LarpVonTrier bought 1.3 billion KEYCAT for 0.1 Ethereum (ETH), valued at around $353. Amid the coin's rise, he sold 344.7 million KEYCAT for 497 ETH (about $1.75 million). He retained 971.2 million tokens, valued at $6.64 million at the time of the transaction.

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Some operations of @LarpVonTrier. Source: Lookonchain

The Lookonchain team noted that the trader’s history includes unsuccessful trades with other meme coins—NORMIE and NORMILIO—causing him to lose several thousand dollars. Therefore, experts suggested that @LarpVonTrier’s earnings from KEYCAT were purely due to luck.

Story #4: 1 SOL to $2 million

On December 27, 2023, Lookonchain analysts reported on a fortunate individual who turned 1 SOL into millions of dollars, completing all operations in a total of 22 days. The user started by purchasing 43.1 million Silly Dragon (SILLY) tokens for 1 SOL. At that time, Solana’s exchange rate was $62. The trader made the transaction five minutes after the meme coin trading started.

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Some operations of the lucky trader. Source: Lookonchain

With Silly Dragon’s rise, he sold 33.34 million SILLY for $528,000. The trader's unrealized income exceeded $1.5 million, as he still held 9.76 million tokens. That is how he made 21,715x with SILLY.

Story #5: $170,000 from MYRA in one day

The last story is about the meme coin Mytheria (MYRA). In January 2024, a trader earned $170,000 in just one day by investing three SOL coins into the cryptocurrency. The community member started by purchasing 61.8 million MYRA for 3 SOL, valued at $287 at the time. The transaction occurred within 5 seconds of the meme coin trading launch, followed by its active growth.

Waiting for Mytheria’s rise, the trader sold 33 million coins for 603 SOL (about $60,000). He retained 28.74 million MYRA, valued at around $110,000. Thus, the coin helped him earn $170,000 in one day.

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Some operations of the lucky trader. Source: Lookonchain

Once again, online debates arose about the nature of such luck. Many agreed that the timing of the transactions indicates insider trading.

Is it worth the risk?

Unfortunately, many successful trades are accompanied by numerous stories with unhappy endings. Some traders lack knowledge, while others lack luck. There are also other pitfalls that traders can stumble upon. Therefore, those inspired by success stories should always remember the risks and carefully weigh the pros and cons.

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Here are three other cool articles:

How Bitcoin could determine the winner of the 2024 US presidential election

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What is Runes—why do we need them and what's wrong with the project

This article is not an investment recommendation. The financial transactions mentioned in the article are not a guide to action. Itez is not responsible for possible risks. The user should independently conduct an analysis on the basis of which it will be possible to draw conclusions and make decisions about making any operations with cryptocurrency.

Maria Kachura
Maria Kachura

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