Have you thought about how to protect the money you’ve made from trading crypto? Here’s a real-life case that’s chilling to read.
An old man with a net worth in the billions was gradually emptied out over 26 years by the person he trusted most—this is more ruthless than any scam out there.
Hermès’ fifth-generation heir, Nicolas Puech—a name on the Forbes list. How did he end up? At 82, deep in debt, flying economy class on budget airlines. The perpetrator wasn’t a stranger, but his “financial manager” Eric Frémon, who had worked for him for over 20 years.
This guy was ruthless.
First, he targeted someone who was at odds with his family, financially clueless, and desperately lonely. Then? He played the role of the “only friend,” completely isolating the old man from the outside world. Every bill and document went through him.
His most devastating trick—getting the old man to sign piles of blank papers. You’d think these were routine documents? In reality, they were authorizations. Those blank authorizations later became “imperial edicts” to legally transfer assets.
By the time the old man realized, his accounts were empty. Where did the money go? Offshore accounts, trust funds, layers upon layers—impossible to trace back. The law couldn’t help either, because “the procedures were legal.”
Twenty-six years. Day by day, year after year, like a frog boiled in warm water.
What lesson does this hold for us crypto traders? Making money doesn’t mean you can keep it. Especially for crypto investors—your assets are on-chain, but who holds the private keys? Who manages the exchange accounts? Don’t say “someone I trust”—when it comes to wealth, trust is often the most expensive cost.
Remember: you must keep an eye on your own money. Don’t sign anything you don’t understand. Don’t give all authority to one person—even if they seem trustworthy. When it comes to wealth management, the core is always: you must understand it yourself.
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Have you thought about how to protect the money you’ve made from trading crypto? Here’s a real-life case that’s chilling to read.
An old man with a net worth in the billions was gradually emptied out over 26 years by the person he trusted most—this is more ruthless than any scam out there.
Hermès’ fifth-generation heir, Nicolas Puech—a name on the Forbes list. How did he end up? At 82, deep in debt, flying economy class on budget airlines. The perpetrator wasn’t a stranger, but his “financial manager” Eric Frémon, who had worked for him for over 20 years.
This guy was ruthless.
First, he targeted someone who was at odds with his family, financially clueless, and desperately lonely. Then? He played the role of the “only friend,” completely isolating the old man from the outside world. Every bill and document went through him.
His most devastating trick—getting the old man to sign piles of blank papers. You’d think these were routine documents? In reality, they were authorizations. Those blank authorizations later became “imperial edicts” to legally transfer assets.
By the time the old man realized, his accounts were empty. Where did the money go? Offshore accounts, trust funds, layers upon layers—impossible to trace back. The law couldn’t help either, because “the procedures were legal.”
Twenty-six years. Day by day, year after year, like a frog boiled in warm water.
What lesson does this hold for us crypto traders? Making money doesn’t mean you can keep it. Especially for crypto investors—your assets are on-chain, but who holds the private keys? Who manages the exchange accounts? Don’t say “someone I trust”—when it comes to wealth, trust is often the most expensive cost.
Remember: you must keep an eye on your own money. Don’t sign anything you don’t understand. Don’t give all authority to one person—even if they seem trustworthy. When it comes to wealth management, the core is always: you must understand it yourself.