How you deal with your emotions after losing a lot of money on rug pulls?

[danherbias07]

First, I am sorry about how much you lost on these scammers. It cannot be stopped there will always be those kinds of people that cannot do anything good in their life but instead use all their knowledge in bad ways.
Now, how to get over it. You have been into cryptocurrencies for a long time and I bet you really knew the answer but just want to hear it again from us.
You move on, let this be a lesson to take care of your funds once again. 
Be a newbie again. That's is what I always tell myself whenever I am becoming arrogant because I know things better than others.
Because when we are newbies we put all our effort into DIY research until the last drop and prove it's less risky than other projects.

[Nahl]

honestly it is very upset and downed my mentally but nothing i can do if facing this situation because this is the main risk to joining at crypto world especially if we play at meme coins because rug pulls currently were dominates from those coins but regretting cannot give my money back so make it as valuable experience to avoid that situations repeatable

[darmin]

Rug pulls are already a risk in cryptocurrencies. I think I can only be patient and wait if you have been hit by this trap and even sincerely. Look at the example of those who are exposed to the squid game token phenomenon and immediately thrown into worthlessness because of their developers. Even other shitcoins will do the same.

[Tumanggor]

you are not alone, I also lost several thousand dollars from defi and shitcoin projects

when the hype token meme I was very stupid to invest in it and it ended up in disappointment

I'm lucky to have a permanent job so I'm not so worried about the next month and I'm also sincere and feel that it's a risk I have to accept when in the crypto market

[Mpamaegbu]

OP's experience reminds me of the saying, "The downfall of a man is not the end of his life." However, I always have a twist to that axiom by adding that it depends on where the man falls. Jocularly, if he falls on a concrete floor with dangerous metals with spikes littered everywhere; the fall could be fatal. The good thing is that OP even had a safety measure put in place too as indicated in their quote down there 👇

But good thing I didn’t go all-in with my entire savings, and that’s a good thing.

Truth remains that no one is ever happy losing money, no matter how small that is. But then, it's needless crying over spilled milk. I just move on, armed with the sad experience to be used as guide for further investments.

[ahoenk]

I got ruged pulled one times minth ago. After i realised i got scamed i leave crypto world for month before i started again. I dont need years to comeback because the money i put in to investing is the cold money not my daily used money.

[wissy]

I deal with it like everybody else, by pouching a hole trough the wall. This is seriously a huge problem nowadays and is making legit projects with potential slip in to the mist and be overlooked.
The thing with crypto is that there is always that next new exiting thing that will attract you with huge gain potential and we are making scammers job way too easier by being too greedy.

[UDONNA]

As an investor, I understand that I can not only increase my savings, but also lose my investments. To avoid this, I invest small amounts in different projects. If I lose in one, then others, I hope, will be able to compensate for my losses. And of course, before giving my money away, I carefully study each project.

[7788bitcoin]

~
I wanna hear from you guys on how you deal with these rug pulls after losing huge amounts? Like how many days can you get back on track after being so emotional? Or what you’ve been doing in order to move on faster after you lost money on these rug pulls?

There is nothing you can do about that, think twice when you invest again in new projects. Follow the team, when a team is planning to move on with the project while running away with the investors money, you can identify them with lower response in their communication channel and once you feel that kind of situation, just sell everything and move on as there is nothing you can do about that.

[dbc23]

I wanna hear from you guys on how you deal with these rug pulls after losing huge amounts? Like how many days can you get back on track after being so emotional? Or what you’ve been doing in order to move on faster after you lost money on these rug pulls?

I have had my share of the rug pulls which comes in so unexpectedly and all I do is close my chat and go to sleep after I have succeeded in taking a calming nap I revisit my chat to see the ATH and ATL then know how long it would take to bounce back the outcome be of my new analysis will decide if I hold on or sell off.

[o48o]

I know it isn’t easy for us to get over or move on with these rug pulls, but I wanna ask the community here. For the past few months, I’ve experienced the “expect the unexpected” moments without warning. To be honest, I have accumulated losses of more than $2,000 in failed meme coins, shitcoins, play-to-earn games that ended up being rug pulled.

I am aware of the risks and the amount that I can afford to lose, but it’s just that I find it hard to make that money back that I have hardly earned. But good thing I didn’t go all-in with my entire savings, and that’s a good thing. I just can’t resist myself from being emotional despite that I’m aware of the risks, and my heart was emotionally hurt too.

I wanna hear from you guys on how you deal with these rug pulls after losing huge amounts? Like how many days can you get back on track after being so emotional? Or what you’ve been doing in order to move on faster after you lost money on these rug pulls?

Well if it's a slow rug pull, it's more difficult, as you are in a state of denial for a long time. But at some point you just need to move on. Accept that you have made a mistake and the amount of money you lost is like a paid lesson you took on avoiding scamming. Just be sure that you won't pay too many lessons to graduate.

[AmoreJaz]

~
I wanna hear from you guys on how you deal with these rug pulls after losing huge amounts? Like how many days can you get back on track after being so emotional? Or what you’ve been doing in order to move on faster after you lost money on these rug pulls?

There is nothing you can do about that, think twice when you invest again in new projects. Follow the team, when a team is planning to move on with the project while running away with the investors money, you can identify them with lower response in their communication channel and once you feel that kind of situation, just sell everything and move on as there is nothing you can do about that.

that's what i didn't do when i invested in several ICOs before. i should have sold the tokens when they still have value in the market. hoping that one day they can recover but that time didn't come. and up until they have been delisted. it was ok for me because i didn't spend a lot of money, but of course that was still money that i should used in more worthwhile projects.
what you can do in this situation is really move on, look for other options and not dwell or linger on that mistake. look for other means how to earn those funds back, even if it will take time to accumulate again but you need to do something and not just blaming yourself and dwell on negative things. you will get depression if you focus on those mistakes.

[DanWalker]

I know it isn’t easy for us to get over or move on with these rug pulls, but I wanna ask the community here. For the past few months, I’ve experienced the “expect the unexpected” moments without warning. To be honest, I have accumulated losses of more than $2,000 in failed meme coins, shitcoins, play-to-earn games that ended up being rug pulled.
I am aware of the risks and the amount that I can afford to lose, but it’s just that I find it hard to make that money back that I have hardly earned. But good thing I didn’t go all-in with my entire savings, and that’s a good thing. I just can’t resist myself from being emotional despite that I’m aware of the risks, and my heart was emotionally hurt too.
I wanna hear from you guys on how you deal with these rug pulls after losing huge amounts? Like how many days can you get back on track after being so emotional? Or what you’ve been doing in order to move on faster after you lost money on these rug pulls?

There is no point in losing money and getting angry or anxious. Rather, it is better to think about how to recover from loss by calming the mind. I use one part of my total funds to invest and save the other two parts to deal with unavoidable risks. There are different trading strategies that should be followed.

[dataispower]

I will leave the market for a while and do something unrelated to crypto if I lose money, no matter how much the amount is because my tension will become high. If I don't control myself, I am afraid that I can lose everything and I can't start trading in the next few days. It needs more practice to control the emotion and can't do that in a short time, but learning to control emotion will be worth doing as that can help us reduce the tension in trading.

leaving the market for awhile will make you to think seriously over your lost, but looking for the loophole were the market Affect you should have been the best fact to follow because of next time, nobody can lose money and be free from pains he or her will look for alternative to subdue it in case of time

[Eureka_07]

I know it isn’t easy for us to get over or move on with these rug pulls, but I wanna ask the community here. For the past few months, I’ve experienced the “expect the unexpected” moments without warning. To be honest, I have accumulated losses of more than $2,000 in failed meme coins, shitcoins, play-to-earn games that ended up being rug pulled.
I am aware of the risks and the amount that I can afford to lose, but it’s just that I find it hard to make that money back that I have hardly earned. But good thing I didn’t go all-in with my entire savings, and that’s a good thing. I just can’t resist myself from being emotional despite that I’m aware of the risks, and my heart was emotionally hurt too.
I wanna hear from you guys on how you deal with these rug pulls after losing huge amounts? Like how many days can you get back on track after being so emotional? Or what you’ve been doing in order to move on faster after you lost money on these rug pulls?

There is no point in losing money and getting angry or anxious. Rather, it is better to think about how to recover from loss by calming the mind. I use one part of my total funds to invest and save the other two parts to deal with unavoidable risks. There are different trading strategies that should be followed.

The scenario of losing money is really bad for most people, specially if the money is important for their everyday living. We can't tell that they shouldn't be anxious, angry or remorse about the lost, we have different level of sensitivity.
But to deal with that lost, one should study about the project before investing on it, and he should be ready that the money could easily because of crypto's volatility.

"Don't invest what you cannot afford to lose".

[blockman]

I have never experienced rug pulls since I'm that picky for projects that I invest and mostly, I'm just a holder. But if I'll relate this to the scam that I've invested in years ago, I just moved on and thought of it that there really are mistakes that I have to learn and won't do the same thing again. Although the amount you've lost is higher than mine, that hard earned money of mine was also hard to accept that I've been fooled and also once a fool in investments. You can keep it up and learn the lesson and only invest to the projects, don't ride the hype too much and be contented with what you're invested currently.

[DarkDays]

honestly it is very upset and downed my mentally but nothing i can do if facing this situation because this is the main risk to joining at crypto world especially if we play at meme coins because rug pulls currently were dominates from those coins but regretting cannot give my money back so make it as valuable experience to avoid that situations repeatable

Not much of a dealing with. It is upsetting and devastating but one has to have the willpower to move forward.

It can only be a hard lesson learnt. There is certainly no point losing your sanity over something like this. You can make more money but you can't recover from a dark state of mind, or the worst case scenario...

[imteaz]

Last year I invested 5 ETH on a new coin which was so hyped. The coin was Xfinance, It was pump from $20 to $250, then they announced one more coin, invested 1 Eth on that too, after 3 days, the owner has dumped all his coin, and took all money and ran away. I lost so much money there, So I know the feelings.

[G-Money7777]

Drinking heavily?

[thecodebear]

If you invest in shitcoins/memecoins then rug pulls are part of the risk you take on. If you have a problem with rug pulls you should stick to legitimate and useful projects rather than some random altcoin that is being pumped.

These types of random altcoins are something you put money into that you don't mind losing, and you get out of quick on a pump. If you don't do these things and you get rugged, well you didn't know what you were doing in the first place. Granted it always sucks to lose money, but you have to understand thats a possibility going into it. If you put your money into stuff like this you need to know going in that you aren't investing, you're gambling. And the gamble is that you can get more money out on pumps of shitcoins than you lose on those that crash or get rugged.

Unfortunately I think noobs don't understand the difference between investing in legitimate things like Bitcoin and some other serious projects, and gambling on memecoins and other shitcoins that anyone in the industry could make in a weekend. Everything going under the label of "crypto" confuses people into thinking buying some random alt is no different than owning Bitcoin. Crypto really needs more labels. It should be separated into Bitcoin and Crypto. And then the Crypto section should be separated into something like platform tokens, app tokens, utility tokens, and shitcoins (which encompasses memecoins and outright scams, along with all the useless failed projects that went nowhere).

Anyway, sucks for anyone that gets rugged, but no one who gets rugged should be surprised, just like (more so a few years ago) if you're using random small exchanges you can't act surprised if you lose your money at some point. Happened to me once in like 2014, almost happened to me again in 2017 - luckily got out of that latter exchange weeks before the FBI shut it down. Back then there were no regulations so you used smaller exchanges at your own risk. Today you buy memecoins and random alts being pumped on twitter at your own risk, knowing full well that what you are buying has no actual use and you are just hoping to make a quick profit to someone who heard about it later than you did. Occassionaly those things are going to be outright scams.

This is why you should never put much money into stuff like this, and certainly not much money into a single random altcoin. Problem is that people are gullible and get led to believe some random alt is the future and so they start believing in it when they should just be putting their money into Bitcoin.