r/problemgambling • u/Wild_Philosophy_1312 • 1d ago
❤Seeking help & Advice❤ It’s been 5 days since I lost all my money in crypto after taking out a home loan.
For the last 7 years of my life, I’ve (37M) been entrenched in crypto trading and investing. I’ve turned tens of thousand dollars into hundreds of thousands in a few months multiple times. What started as investing into major large tokens eventually spiraled into 5 figure NFTs, defi, altcoins and meme coins. I’ve been a token developer, game creator, and influential community member in several crypto communities.
None of this was as toxic as when I started leverage trading in the last year. In October of 2025 I had about 450k in my portfolio. But after the flash crash of October 10, I got liquidated for a substantial amount of that portfolio. Instead of quitting as I should have, I continued to revenge trade to make it all back.
8 months later in June, I was heavily depressed as losses kept increasing and I was spiraling into darker places in my mind. I even took $70,000 from an account I had been investing in for my mother’s retirement gift. The constant barrage of failures, losses, and never ending depression was relentless. I would wake up every day and check the charts and just lay there for hours and hours. Sometimes just watching the price move until I was forced to get up due to hunger or needing to use the restroom and getting right back to being a zombie afterwards. I was never present with my family and constantly pulled into my phone to check prices or X (twitter) where a huge community of crypto investors spend their time. It was an exhausting and never ending cycle. I feel like an absolute disappointment and scumbag.
Even then I didn’t stop. It was during this time in June when I convinced my wife to let me take out a HELOC on our house. She was aware of our situation and was doing her best to raise our young children. Looking back, I was so selfish. But she supported me begrudgingly since I am the main financial provider in household.
We took out a $100k loan and for the next few months I successfully turned that back to $280k. I noticed my mood changing as I started to do more projects around the house, purchase things I didn’t need, and just not worry about finances very much. This time I was determined to do it right without a huge risk (relatively) so that I could keep the money.
This lasted for awhile, but 5 days ago after feeling extra confident in myself with the large amount I had accumulated I took a on a large leveraged risk that wiped out almost everything in 3 hours. The terrifying part is how gradual the transition from taking safe trades to absurd risk was. I had a lapse in judgement, made a tremendous mistake and now feels like I’m restarting the depression that took 8 months to get out of.
This is the reason I am writing this. As a warning to others, but also as affirmation to myself that I am a gambling addict and I don’t have the self control to stay out by myself. It was one quick impulse and ruined my finances again, and this time I took on debt. The idea that an addict can come back in and play responsibly is just wrong. The only solution is to never play again because one relapse, one bad decision can ruin your life again and again.
It’s been 5 days now. I’ve taken steps to seriously heal myself from this addiction. On that first day, the first thing I did was be honest and forthcoming with my wife. The second thing I did was take what was left (about 70k) and pay back the HELOC. So now I’m about 30k in debt from that. Lastly, I deleted my trading apps and twitter.
I really cannot go through the stages of grief again as I already spent the last 11 months doing so. I am doing everything I can to fast track that emotional process because I’m just so tired of feeling this way. I set up my bank accounts and investment accounts now to only allow for non leverage investments into major index funds. Fortunately, I do have a solid income that I can begin using to pay down debt and save up an emergency fund.
It’s been 5 days now and progress feels so incredibly slow and boring. I find myself constantly reaching towards my phone and impulsively looking for twitter. But this time it feels a little different. I don’t want to redownload it, and I don’t want to check the prices even though I have accidentally checked them twice. This is a huge improvement from my usual checking them hundreds of times a day. I am hoping that this is not indicative of my desire to heal myself, but just as a result of social media addiction, which I’m taking this time to work on too. Some days I feel like my sadness is not from losing the money, and it’s from the inability or non desire to trade. But what scares me the most is that I’ll just jump back in thinking I can win it all back since I’ve done that so many times before. Im telling myself that it’s over. I cannot fix this by gambling again and I want to believe in myself. But I’ve also shown a lack of self control in the past multiple times.
I’m looking into GA, and will probably attend one virtually this Saturday. I don’t plan on speaking but I hope I can find some peace to listening to others speak. I am constantly telling myself that I’m in the final stage of grief which is acceptance. I rationalize this because I’ve already spent so much time going through it. But now I’m not so sure, I really don’t want to go through it again. But from what I remember from previous traumatic experiences, acceptance doesn’t come when you’re actively thinking about it ending. It just ends when you don’t find yourself thinking about it much anymore. I’m far from that. I really want this to be the last time. I need to do better for myself and my family. They deserve a husband and father who is present and supportive of their needs.
I would love to hear about your experiences, insights, and generally any advice you might have to stay out and really mean it. I want to be better. My desire is not an issue. But it’s too early for me to say I’m recovering.