The crypto world every year continues to create wealth myths, but few people truly discuss the traps behind these stories.

Recently, a case sparked some reflection: a wallet quietly bought in at $27 when PEPE was almost abandoned. At its peak, the paper profit exceeded $67 million — sounds like a perfect double-up story, but the ending is quite heartbreaking. This huge amount can never be withdrawn because the contract developer used a permission operation to directly blacklist this address.

The assets are still on the blockchain; you can see them, but they are completely frozen as if under a spell. This is a reality many overlook: if you don’t have contract permissions, it’s the same as not truly controlling these assets.

Such situations are not uncommon in meme coin ecosystems like Ethereum. New opportunities emerge daily, but risks are also skyrocketing. Dog projects, rug pulls, hidden permission black holes in code — most people not only fail to see profits but may also lose their principal.

The market is constantly evolving,淘汰掉的是那些只看机会、不懂规则的玩家。真正能赚到钱的人，往往是那些既有魄力入场，又对智能合约机制有基本理解的人。

So, a simple piece of advice:

**Understand the contract logic first, then consider the return rate** — check developer permissions, token liquidity, burn mechanisms; these basic steps can help you avoid 90% of the pitfalls.

**Ensure the safety of your principal first, then gamble on returns** — in this market full of uncertainties, surviving is the prerequisite for growth.