Liang Xi's Cryptocurrency Legend: The Ultimate Game from Thousands to Hundreds of Millions, Then to the Brink of Debt

The story of Liang Xi in the crypto world is as extreme as a roller coaster—going from a 24-year-old young trader to owing 200 million in debt, and then rumored to make a legendary comeback. His experience encapsulates the madness and brutality of the cryptocurrency market and reflects the double-edged nature of high-leverage trading.

Genius Teenager and the Leverage Dream

Liang Xi’s real name is Geng Zhiyu. Although he hasn’t been famous in the crypto scene for long, his life has been full of twists and turns. As a post-2000s generation, he’s still young but has already experienced far more ups and downs than his peers.

In his early years, Liang Xi showed talent in multiple fields: at age 10, he became a national-level swimmer; at 15, he won the Hebei Province championship in “Honor of Kings,” but at 17, he was sent to a drug rehab school by his father due to gaming addiction. This seemingly failed experience unexpectedly strengthened his resilience. Later, Liang Xi earned his first 200,000 yuan by providing gaming companionship services, which became the capital for his later entry into trading.

Overnight Wealth During the 519 Incident

Liang Xi truly burst into fame in the crypto world during a major market rally in mid-2021. During the 519 event, the crypto market experienced a sharp decline, and Liang Xi keenly seized the opportunity.

Using just 1,000 yuan from his father’s bank card, he opened a 100x leverage short position on Bitcoin on an exchange. Employing quick in-and-out short-term strategies and rolling positions, Liang Xi achieved rapid growth of his funds—growing from a thousand yuan to hundreds of millions of RMB, with peak assets reportedly exceeding 40 million.

Behind this achievement was an almost insane trading frequency: he slept less than 5 hours a day, with trading up to 1,454 times a week—over 8 trades per hour on average. With his ultra-high trading frequency and market intuition, Liang Xi profited significantly from the market’s unilateral decline. This success made him a legend in the crypto scene, claiming to be “worth over a billion” in his early twenties, drawing widespread attention.

The Cost of High Leverage

After gaining fame, Liang Xi began showcasing his wealth on social media—posting luxury cars, designer goods, trading screenshots, and even revealing bank account balances. This high-profile behavior indeed attracted many followers, but also skepticism.

However, the good times didn’t last. In the second half of 2021, Bitcoin rebounded, and Liang Xi’s short-selling strategy gradually failed. He started experiencing frequent margin calls, with his funds rapidly shrinking. Worse, he didn’t learn caution from these failures but continued to use high leverage in an attempt to “make a comeback.” Multiple attempts all ended in failure.

People in trading communities began calling him the “Zeroing Master”—once he claimed, “Give me 1,000 yuan, and I can turn it around,” only to lose it all again. By 2022, Liang Xi was completely wiped out, losing over 50 million yuan. The unpaid debts accumulated to a staggering 200 million RMB.

Mental and Debt Struggles

His trading failures brought not only financial collapse but also severe psychological distress. Reports indicate that after his sudden wealth in 2021, conflicts with his father over funds intensified. Rumors suggest his father tried to control his assets, while Liang Xi accused his father of “betrayal.” This family turmoil led to him being sent to a mental hospital, which he later publicly denounced as “illegal detention” on Twitter.

On social media, Liang Xi detailed his hospital experience—claiming he was forcibly restrained, treated, and injected with unknown drugs. He repeatedly mentioned this ordeal, sometimes angrily, sometimes self-deprecatingly, as if telling a bizarre story to his fans.

In 2022, similar incidents occurred again. Reports said he was hospitalized again due to debt and emotional issues, though details are unclear. On Twitter, he hinted at being “locked up again.” By 2023, rumors circulated that he chose an extreme way to cope with debt pressure—some reports claimed he attempted suicide by drinking pesticide. Although unconfirmed, his subsequent posts on social media saying “living is pointless” and “want to reset everything,” along with eyewitness reports, made these rumors quite credible.

From Bottom to Legend: The Comeback

In 2024, Liang Xi’s life was quite “abstract,” often relying on charity to get by. His trading account had almost no usable funds left, and his once-billion-yuan fortune was a thing of the past. Few believed he could turn things around.

But crypto stories are often full of surprises. When the market plunged again in 2025, Liang Xi reappeared in the trading scene. This time, he again used a small capital—just a few thousand yuan—and traded openly in front of the public. Astonishingly, he claimed that through this trading, he paid off the 200 million yuan debt accumulated earlier.

No matter what his future trading strategy is, this comeback from the depths undoubtedly requires immense mental resilience and deep market understanding. Some say that if Liang Xi gets another similar opportunity to release his story, many would want to follow his trades—because stories of turning around from extreme adversity are among the most captivating “gambling narratives” in the crypto market.

Liang Xi’s story reminds us: high leverage trading can create miracles or tragedies. In pursuit of extreme gains, mental toughness, risk management, and respect for the market may be more important than any trading skill.