The crypto world is never short of wealth-building legends. Turning $62 into $1.5 million, a rise of over 20,000 times—such stories make hearts race. But around the corner lies another reality—there's a wallet that invested $27 when PEPE was nearly bottomed out, and now the account holds a staggering 67 million. Sounds perfect? Wrong. This wealth has been permanently frozen. It cannot be sold, transferred, or exchanged; all operations are blocked by an invisible wall. The reason is quite painful: PEPE's smart contract design allows developers to have absolute power—one click can blacklist any address. The money is still there, but it has become an illusionary existence. This actually reflects the core contradiction of crypto assets—while you own the private key, you may not control the contract. The contract code is the law, and the interpretation of this law may forever remain in the hands of the project team. Major tokens like DOGE and SHIB have already improved this mechanism, but many projects still operate in murky waters. Before investing, ask yourself: who really holds the power?