Cryptocurrency has seen increasing popularity in recent years, yet there are still many risks associated with investing in this space. This can be seen with the recent news of Franklin Whale, an NFT (non-fungible token) investor, not only selling off many of his tokens but then deleting his Twitter account - due to unfortunate gambling losses and issues in his personal life.

Franklin, through Blur, a leading NFT exchange on Ethereum, sold at least 27 Bored Ape Yacht Club (BAYC) NFTs, which saw the floor price of the collection drop to 55.59 ETH (equivalent to $111,000). In his goodbye tweet, Franklin mentioned that he had been scammed of nearly 2,000 ETH in a previous investment and lost 650 ETH in his Rollbit project investment - leading him to liquidate his assets.

Franklin's story goes to show how even experienced investors are vulnerable to the risks associated with investing in cryptocurrency - such as cryptocurrency scams, as well as gambling. Unfortunately, this is not the first time gambling losses have made headlines in the sector, with the founder of NFT Goobers being an example of this. It is important to note that although investing in cryptocurrency can be potentially profitable, due to the volatility of the market, it is important that investors do the necessary research and always ensure their investments are secured. As Franklin warned, it should be avoided to not deposit any unsecured ETH.



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