[Story] Crypto can break you, but with the right knowledge—sometimes, it can save you

Three weeks ago, I got invited to a “private crypto investors’ dinner” at a rooftop lounge in Lekki Phase 1.

The invite came through a Telegram group I had just joined called Crypto Bros NG. The flyer was glossy, filled with words like blockchain innovation, passive income, and financial freedom.

At first, I was skeptical. Lagos is full of scams, but my curiosity (and FOMO) was louder than my common sense.

When I arrived, the place looked like something out of a luxury lifestyle vlog—dim lights, glass walls showing the ocean breeze, and sharply dressed young men and women sipping cocktails as if Bitcoin itself was funding the bar.

A tall guy in a tailored navy-blue suit walked up to me. His Rolex caught the light before his smile did.

“Welcome, boss,” he said, shaking my hand. “I’m Raymond, the project lead of BlockWave AI Token.”

I nodded, trying to look confident even though I had only ₦50k worth of crypto in my Binance wallet.

As I sat, the “pitch” began. Screens lit up with futuristic graphics—charts moving like rollercoasters, buzzwords flying across slides: DeFi liquidity pools, SaaS-integrated blockchain, token staking yields.

Raymond’s voice was smooth:

“This is not just another cryptocurrency, gentlemen and ladies. This is the future of finance. Imagine merging SaaS with blockchain technology—subscriptions powered by tokens. Early investors are looking at 300% ROI within months.”

My table mates clapped like he just announced Nigeria had won the World Cup. I forced a smile.

One lady next to me whispered, “I already put $5k. By next month, I’m cashing out and buying a Benz.”

My heart skipped. Was I about to miss the train again?

Halfway through, my friend Dele (the one who dragged me there) leaned in:

“Guy, no dull o. Just invest small. Crypto is the only way to beat this economy.”

I stared at the glowing charts again, thinking about my rent, my bills, my mum’s endless “when are you settling down?” questions. Maybe this was my shot at financial freedom.

So, against my better judgment, I whispered to Raymond after the presentation:

“I fit start with $1k. How do I buy in?”

His smile widened like he had been waiting for that moment.

“Perfect, boss. Just send it to this wallet address. By tomorrow, you’ll see your BlockWave tokens reflected in your dashboard.”

He gave me a QR code. I scanned. I sent. My heart raced like I just proposed to someone.

The next morning, I woke up excited, refreshed my dashboard, and boom—the tokens were there, glowing like treasure in a video game.

But three days later, the dashboard went blank. Error message: 404 Server not found.

Panic set in. I called Dele.

“Bro, are you seeing what I’m seeing?”

Dele sighed deeply. “Guy… I think we’ve been rugged.”

That word hit me like thunder. Rugged. Rug pull. Classic crypto scam.

I rushed to Telegram—group deleted. Raymond’s number? Switched off. Website? Gone. My $1k? Floating in blockchain space, never to return.

I sat in my room staring at my phone screen, whispering to myself, “So this is how the crypto lifestyle begins?”

But here’s the twist.

Two weeks later, I randomly checked my email. Buried in spam was a message from a legal firm:

“If you lost funds in the BlockWave scam, join our blockchain legal action group. We’re pursuing recovery with an insurance-backed fund for victims.”

I froze. Insurance? For crypto scams? That sounded unreal.

I joined their Zoom call that evening. A no-nonsense lawyer in glasses explained how blockchain insurance policies were now being offered for SaaS-based tokens, and that victims could recover part of their money if they filed claims in time.

My jaw dropped. Imagine—insurance saving me from crypto heartbreak.

So, I filed my claim. A month later, I got an email notification—$600 refunded to my Binance account.

I literally screamed.

That night, Dele called me.

“Guy, you’re lucky o. I didn’t even file. My money don go.”

I laughed, but this time with wisdom.

“Next time, Dele, no rush into any token without reading real software reviews and SaaS-backed blockchain projects. Not every shiny dashboard is legit.”

He chuckled. “True. You don turn crypto lawyer now.”

I leaned back, staring at the Lagos skyline through my window, the city lights flickering like blockchain nodes.

And I whispered to myself,

“Crypto can break you, but with the right knowledge—sometimes, it can save you.”