Failure is a bitter word that must be accepted, but not to be regretted but to be used as a whip for the process to become success. Many things trigger why failure occurs. Without blaming one party, this bitter reality must be a lesson to overcome how the failure should become a success. Revolutionizing the financial world is the main goal of crypto, but along the way since the birth of crypto currency, it has a record of failure in its revolution. Like the goal of a country's order, crypto also has an order that wants to be changed quickly which involves fundamental things.

The red ink record of crypto cannot be simply forgotten, let alone ignored, otherwise it will not be the word failure that will be written later but the destruction of the birth of crypto since is created in 2008. from 2014 to 2022 the red ink record of failure does provide many valuable lessons even though it is painful.

Below can be said to be a big red ink record of crypto's biggest failures, among of them;

• Mr. Gox, a failure of a combination of factors from weak security and internal fraud.
• Bitfinex, a failure still linked to the Mr. Gox hack.
• Cryptsy, a failure due to liquidation issues, low trading volume and intense competition in the industry.
• QuadrigaCX, failure of the importance of security and planning in the crypto business. (The founder of the exchange passed away with a private key in a cold wallet).
• TerraUSD, failure of the stability issue of the existence of a coin algorithmic stable.
• Celsius Network, failure of lending platform silvency concerns impacting the broader market.
• Tree Arrows Capital, a failure of leverage concerns and speculative investment strategies in the crypto market.

Of the seven examples of major failures that have occurred in the crypto world, there are many other small failures that may become a red record in crypto history. And if we taken as a common thread, the average is caused by the lack of security, fraud and conditions of greed. If it is said from the weakness gap, unfortunately it cannot be taken as an excuse, because at its core every crypto project is built on the basis of a shared consciousness aimed at revolutionizing the world of financial problems.

And until now, although crypto adoption seems to be widespread, it is unfortunate that the harsh reality is that the main failure of the problem of low cost, convenience, and time efficiency remains unattainable. This means that the language of peer to peer electronic cash was only born as part of the crypto world and cannot be successfully used in real life as part of the use of a real currency that is better than the previous currency.