Crypto Circle 2025 Absurd Moments Recap: From Fake Death News to Identity Exposure

The cryptocurrency market of 2025 has witnessed too many dramatic moments. These bizarre stories include technical blunders, twisted displays of human nature, and outright industry chaos. Reviewing these absurd moments serves as both a record of the year and a proof of investors surviving until the end in this “casino.”

Stablecoin Issuer’s $100 Trillion Blunder

In October, the stablecoin sector experienced an epic operational mistake. Paxos, during a routine minting, unexpectedly generated 300 trillion PYUSD tokens pegged 1:1 to the US dollar. How exaggerated is this number? Valued in USD, this accidentally minted asset is worth about $300 trillion, more than twice the combined GDP of all countries worldwide.

Fortunately, Paxos responded swiftly, destroying all erroneous tokens within 22 minutes. But this incident exposed a serious issue—while blockchain automation is efficient, human errors can cause exponential consequences.

Wallet’s “Self-Withdrawal Rights”

The Lightning Network wallet Alby triggered a trust crisis this year. In its March 2025 update, the platform quietly added a bold clause: for accounts with no transactions for 12 consecutive months, the platform reserves the right to deduct all remaining balance.

This move immediately raised user concerns. Several community members reported their account balances were unilaterally cleared by the platform. The wallet’s promised asset autonomy appeared especially fragile at this moment.

Hacker’s Reversal Plot

Hackers also have their fails. A hacker attacking zkLend in February, attempting money laundering in April, accidentally clicked on a phishing page of a spear-phishing site, resulting in a secondary theft of 2930 ETH stolen funds.

Even more surreal, the hacker later sent an on-chain message to zkLend, earnestly requesting cooperation to recover the funds. He even admitted his mistake—intending to use Tornado Cash but clicked into a phishing site. zkLend’s official team then activated tracking mechanisms, monitoring suspicious wallets. Sometimes, bad guys encounter even worse people.

Founder Disappearance and Coin Price Surge in a Magical Moment

On the day of DIN’s TGE, a suspense thriller unfolded. Founder Harold suddenly went offline, claiming on social media that he was overseas and had lost multi-signature wallets and notebooks. Normally, this would trigger panic selling, but the reality was quite the opposite—some community members believed this created unexpected hype for the project.

Is it deliberate hype or just a coincidence? The project team stated the TGE plan remained unaffected, with over two-thirds multi-sig approval, and launched on schedule. This event also serves as a reminder to investors: in crypto markets, the more bizarre the information, the more cautious you should be.

The First Appearance of “Pseudo-Death Exit”

In May, Zerebro co-founder Jeffy Yu staged a shocking “suicide scene” during a live stream. Many initially thought it was just another hype stunt. But two days later, a screenshot of a death notice circulated on social media, making things unsettling.

As attention grew, the associated meme coin LLJEFFY’s market cap soared to $30 million. However, overnight, several KOLs began “debunking.” Jeffy Yu sent a letter to investors, confessing it was a carefully planned “pseudo-death exit”—to avoid harassment from his ex, personal data leaks, and online hatred. He admitted it was the only way to prevent a sharp drop in the project’s token price.

This is widely regarded as the first pseudo-death exit strategy in crypto history. It redefined the limits of “marketing.”

Chain Detective Turns Thief: The Gabagool Identity Reversal

At the end of May, the AI token launcher Clanker on Base announced a severance of ties with core developer proxystudio. Seemingly a routine breakup, but it hides one of the most ironic stories in the industry.

proxystudio’s real identity is Gabagool.eth, a well-known chain detective active in DeFi. Known for tracking on-chain fund flows, this “hero” was exposed in 2022 for actually moving about $350,000 from the Velodrome project’s wallet himself. Under community and project pressure, he reluctantly returned the funds.

Even more ironic, this identity reveal wasn’t through on-chain data analysis but at a FarCon offline event, where a former colleague recognized him publicly. According to media reports, Aerodrome founder Alex Cutler recognized proxystudio as the same Gabagool on stage, and the old case was quickly dug up. This incident plainly illustrates a truth: your past will eventually meet you somewhere in real life.

And the meme “gabagool” became a classic symbol in crypto about identity deception and reputation shifts due to this reversal.

Creative Space for K-line and Market Makers

Shitcoin market makers have turned “drawing lines” into an art form. When quantitative trading is being ground down, some market makers can freely wield their brushes on intraday charts. The authenticity of K-lines now appears somewhat blurred.

The Self-Deprecating Eclipse

Since its inception, Eclipse has been riddled with controversy—from founder scandals to multiple personnel changes. Recently, the project even self-declared on social media that it was a 36-month sociology research project at Harvard, “research completed, thank you for your cooperation.”

Ironically, under a post introducing the new project ETHGAS, the official Eclipse account bluntly stated: “We have no users.” Self-deprecation has become the final branding persona of this project.

The Last News of Political Involvement

Nothing better encapsulates the chaos and absurdity of 2025 than this— a well-known politician’s spouse hurriedly released a meme coin called MELANIA late at night after their partner’s token launch.

If the crypto industry had a monument of shame, MELANIA would be engraved at the top. The token itself has become a footnote to that monument.

This is 2025. A year where technical errors and human distortions run side by side, on-chain tracking and identity reversals share the stage, meme coins dance with politics. Every absurd moment reminds us—nothing is impossible in this market.