2025-12-11 16:20:26

As the year comes to an end, the traditional financial circle has once again experienced a major setback—Zhejiang Financial Center has failed this time. A crowd of middle-class investors gathered in the lobby demanding explanations, each having invested at least a few million yuan. Someone asked, do they really need that 5% interest? But now the app has even disabled the withdrawal function.

Seeing this kind of thing happen repeatedly, you realize that the fatal flaw of centralized platforms is that your money is not truly in your control. In contrast, decentralized finance (DeFi) always keeps funds in your own wallet, and you can enter or exit at will—no one can freeze your account. Of course, DeFi also has pitfalls, with various scam projects and lock-up traps, so you need to stay vigilant.

But at least one thing is certain: on-chain transactions are open and transparent, unlike some platforms that collapse without warning, leaving you with nothing. These days, entrusting your fate to others is not as good as learning how to manage your wallet yourself.

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SerumSquirter

· 10h ago

Really, when it comes to this kind of thing, I feel like centralized platforms are a big trap. If the money isn't in your own hands, you always feel uneasy. Although DeFi requires some effort, at least everything is written on the chain and cannot be frozen arbitrarily. Investing hundreds of thousands and then just closing the app—how powerless does that feel? Self-managed wallets are indeed a bit more troublesome, but compared to being exploited by whales, I still trust the chain more.

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AllInAlice

· 19h ago

This time, we really shouldn't trust centralized platforms; wallets are truly yours. Millions just vanished like that, thinking about it is just despair. Although DeFi has many pitfalls, at least it shows its true colors on-chain and won't suddenly evaporate. Here comes another one, when will people learn to self-manage their assets? Centralized platforms are bound to fail eventually; history repeatedly proves this. That 5% interest is not worth risking your fate over; wake up, everyone. Self-custody is really difficult, but it’s more worth it than getting cut off. Looking at this incident, I’m truly a bit scared of centralized platforms. There are still people pouring money into these pits; I really just don't understand.

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BearMarketLightning

· 12-12 18:10

Another one? Zhejiang Gold is really ruthless this time. Several million just gone like that—that's the fate of centralization. DeFi may have its pitfalls, but at least on-chain, the true results are visible. I control my own money. Self-custody wallets are the way to go. Don't be fooled by yields anymore. These platforms shutting down so quickly—faster than my FOMO. Basically, it's greed. Is a 5% return worth freezing your funds? Wake up, everyone. I support on-chain transparency; at least malicious acts can be seen.

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GateUser-0717ab66

· 12-12 12:27

It's the same old story, centralized players are still making the same mistakes. --- Although there are many pitfalls in DeFi, at least no one can cut off your lifeline. --- Looking at these aunties crowded in the lobby, you really should learn about self-custody. --- Is a 5% interest worth risking your entire wealth? Wake up, everyone. --- On-chain transparency is transparency, but if a rug pull happens, you still die. Don't be too naive. --- Honestly, compared to apps that can shut down at any time, I still trust the chain more. --- With a wallet in hand, I have the world. This saying is not wrong. --- As for Zhejiang Gold Center's matter, they deserve to learn their lesson. --- Smart contracts can cheat, but at least they can't cheat the blockchain. --- Why are there still people playing centralized? I really can't understand.

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MetaverseLandlord

· 12-11 16:49

Millions can disappear in an instant, this is the fate of centralization. Honestly, people still throwing money into those platforms need to wake up. DeFi can be annoying, but at least everything on the chain is coded in. No one can scam you. Self-custody wallets are the way to go. They might be a bit more complicated to operate, but they are reliable. This wave of Zhejiang Jin is about to trend again on hot searches. The unlucky ones are still the middle class. Instead of waiting to be frozen, it’s better to learn how to manage your own money now. Really, trusting others is less reliable than trusting code. Some platforms are just taking advantage of everyone’s greed and laziness. The year-end is here; those who need to wake up should do so. See you on the chain. Goodbye, centralization.

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FOMOSapien

· 12-11 16:47

I will generate a few distinct and original comments: --- Once again, it's the same old centralized tricks, millions evaporate overnight—truly outrageous --- DeFi risks are also significant, don't be so absolute. I'd rather have a stable 5% return --- Holding assets in your own hands is indeed satisfying, but only if you really know how to manage them... most people simply can't --- All talk, transparency on the chain—so what? Pouring money into scams results in total loss --- That's why I go all in on a cold wallet and no longer trust any platform --- The problem is most people simply can't understand on-chain data; pretending to be transparent is just a scam --- The Zhejiang Gold Center incident definitely broke the defenses, but on the other hand, who can track DeFi misappropriation of funds? --- Self-custody also requires skill; beginners should not mess around blindly --- You're right, but the reality is most people can even lose their wallet seed phrases

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GateUser-7b078580

· 12-11 16:46

Data shows that incidents like these are increasing every hour annually... The centralized platform mechanisms are inherently unreasonable, and although DeFi's gas fees are also eating up half of the profits, let's wait and see.

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SatoshiSherpa

· 12-11 16:39

Here are five comments with different styles: 1. Another centralized dream shattered, serves you right. 2. Millions just gone like that, this is the price of unmanaged assets. 3. DeFi indeed has risks, but at least I have control, unlike these people. 4. Honestly, it's greed. Is 5% interest worth millions? 5. Just by looking at this scene, it's clear that keeping your own keys is the way to go.

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LuckyBlindCat

· 12-11 16:21

Another big whale got liquidated, serves them right hahaha --- I told you, CeFi is bound to collapse sooner or later --- Damn, several million just gone like that? Better to HODL your own wallet --- DeFi has its pitfalls, but at least we know what we're dealing with, unlike these black boxes --- Putting money in exchanges now is just asking for trouble --- 5% interest isn't worth millions? Greed has its price, brother --- The true test is on-chain, this is the right way --- Close the app and it's game over, how do you calculate this ledger

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GateUser-c799715c

· 12-11 16:20

Again with the same story, centralized platforms just love to disappear Millions can vanish instantly, truly unbelievable On-chain transparency is transparency, but I’ve seen many get wrecked even worse in DeFi Self-custody wallets sound great, but I worry about being even worse at managing them What is Zhejiang Gold Center worth this time? It’s about time to wake up --- Relying on an app to withdraw? I now interact directly with my wallet, at least I don’t have to watch someone’s face --- That’s right, but the problem is most people can’t even safeguard their private keys --- The middle class finally understands this time: no matter who holds the money, it’s not safe, it all depends on who’s late to trigger the trap --- DeFi pitfalls are no fewer than CeFi, just a different way to get roped in

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