What was the biggest Fail you wisely AVOIDED in Crypto?

What was the biggest Fail you wisely avoided in Crypto?

For me I was talking with my neighbor at our community pool. He was reading a book on Crypto so we started talking. He said he was big into Cardano, CRO, Jasmy and most heavy into FTX. He said theres no way FTX will ever fail and that the gov was backing it, and they had the Miami stadium and all. He then said FTX is as solid as BTC.

Then literally a week later FTX crashes and SBF gets arrested. One week later. Thank God he did not persuade me into investing into FTX.

You want to know what's funny is that neighbor no longer comes to the pool. In fact I haven't seen that neighbor since this convo. I'm wondering if he lost his house because of his FTX investments???