25 Reasons Crypto Is Dead (202X Edition)

1. Endless hacks – Exchanges like BtcTurk, CoinDCX, WOO X, and SuperRare repeatedly lose millions to breaches.
2. Rug pulls disguised as hacks – Credix “hack” looks more like an insider cash-out than an external exploit.
3. 51% attacks – Monero facing existential threats shows even major chains can be hijacked.
4. Pump-and-dump memecoins – Coins like Odin.fun get exploited, wiping out users overnight.
5. Degeneracy in marketing – Memecoin promoters resorting to throwing sex toys at WNBA games shows desperation.
6. AI scam bots – “Trading bots” drain wallets via YouTube scams, robbing users of millions.
7. Exchanges freezing withdrawals – Abra halts withdrawals, repeating the 2022 “crypto winter” collapse cycle.
8. Liquidity vanishing overnight – Defi protocols like Credix get drained, leaving users empty-handed.
9. Ponzi-like business models – Lenders like Abra survive only by constantly onboarding new victims.
10. Centralized control of ‘decentralized’ systems – One entity can take over Monero’s mining, proving the fragility of decentralization.
11. Mixers enabling theft – Tornado Cash continues to launder stolen funds, with little accountability.
12. Insider compromises – WOO X hack stemmed from a single employee’s compromised device.
13. No consumer protection – Victims of hacks rarely see reimbursements, unlike in traditional banking.
14. Exchanges disappear – Projects like Credix vanish after scams, erasing user trust.
15. Extreme volatility – Tokens collapse on rumors, hype, or single influencer posts.
16. Law enforcement lag – Scammers disappear long before regulators catch up.
17. Cultural rot – From “sex toy marketing” to Trump Jr. memes, the scene is more circus than finance.
18. Repeat offenders – Exchanges like BtcTurk get hacked again and again, yet remain operational.
19. Scam saturation – More projects end in failure or fraud than genuine utility.
20. Fragmented ecosystems – Hundreds of chains and tokens compete, none achieving stability.
21. User-hostile complexity – Wallets, keys, and DeFi contracts remain confusing and dangerous.
22. Bad incentives – Rewards for malicious actors (e.g., paying hackers “bounties”) normalize theft.
23. Speculation over use – Nobody’s “using” crypto for real-world needs—just trading, gambling, or scamming.
24. Institutional exit – Major players abandon crypto exposure, leaving retail investors as the bag holders.
25. The reputation collapse – The public sees crypto as synonymous with fraud, hacks, and cringe memes.