"Turned ₩6 million into ₩380 billion"... The Legendary Coin Trader 'AOA' Returns

Reveals Recent Activities in BitMEX Blog Interview on the 11th

"Never fall in love with your position—That’s my iron rule"

"Thorough risk management... Only invest amounts I can handle"

If you had to name just one of the most famous virtual asset (cryptocurrency) traders in Korea, it would be 'AOA', who is active on the BitMEX exchange and DC Inside Chart Gallery.

In 2017, he jumped into crypto trading with around ₩6 million and made profits of at least ₩380 billion through futures trading. AOA became famous after his actual earnings—about ₩380 billion—were confirmed on the BitMEX leaderboard (a platform where BitMEX users’ P&L are displayed in real-time) at the time.

After suddenly disappearing in 2021, he resumed activity in April by posting proof of his purchase of Bitcoin and Ethereum worth about ₩60 billion on DC Inside Chart Gallery, and on the 11th he shared an update through a BitMEX blog interview.

In the interview, when asked about the secret to his success he stated, "My principle is to constantly doubt the market and never fall in love with any specific position," and, "I never went all-in and always practiced thorough risk management."

Below is the full interview from the BitMEX blog with AOA.

▷ Please briefly introduce yourself.

Hello, I'm AOA, active on DC Inside and in the BitMEX Trollbox (BitMEX's user chat).

▷ Do people recognize you by the nickname 'AOA' in real life?

I don’t reveal myself much, so only very close people know.

▷ Who is your favorite idol these days?

IVE’s Jang Wonyoung and Rei, NMIXX’s Seol Yoon.

▷ You weren't active until recently—how have you been?

Until 2021, I focused mainly on trading and online activity, but since then I've been enjoying real-life more.

▷ What are your current interests?

I’m concentrating on enjoying life. I’m preoccupied with things like relationships and self-development.

▷ What led you into cryptocurrencies, and why did you use BitMEX?

In December 2017, there was a first crypto boom and everyone around me was getting in, so I jumped into crypto as well. In March 2018, when the market fell, I was looking for a way to make profits even in a bear market and ended up using BitMEX, which was the dominant futures exchange at the time.

▷ What’s the secret to reaching your current place starting from ₩6 million?

I think it was primarily about doubting the market continuously. Coins are already highly volatile—just Bitcoin and Ethereum alone have dropped by a factor of 10 or 20 at times, and if I hadn't remained skeptical and had just held through, I wouldn’t have made it this far. While in crypto, I never stopped questioning. My rule is to never fall in love with a particular position. And never go all in. No matter how big the loss, I made sure not to risk more than 30% of my whole seed capital at once.

▷ How do you celebrate successful trades?

Honestly, when things are going well, I’m so focused on the market that there’s no time to celebrate. I’m too busy trading, so I don’t celebrate. When things quiet down, I just treat myself to some good food or a simple after-party.

▷ What is your most expensive or regretted purchase?

Bitcoin. I think I regretted it when I splurged on high-end services or products. Since the cost-effectiveness drops dramatically, I try to avoid the very top-end in both services and products.

▷ What has changed the most for you after succeeding in trading?

Having more financial freedom is big, but this is how I usually describe it: having more assets doesn’t seem to increase happiness to its maximum, but it definitely raises the minimum. There are far fewer unhappy moments now, which is a good thing. Since I was earning profits of around 10%–20% a month, it’s hard to pinpoint a single moment, but after the big bear market in late 2018 when Bitcoin dropped to $3,000, surviving and making a profit then gave me the stability to keep going.

▷ What was your biggest mistake in trading, and what did you learn?

To be honest, except for Bitcoin and Ethereum, my hit rate on other coins is low. I regret letting greed take over and making persistent losses even though I was aware of it. Even with the lesson learned, I feel I kept making the same mistakes.

▷ How do your friends and family feel about your success?

How they perceive me depends on my own attitude. So I really try not to show off too much. Showing off gives people a reason to take you lightly, so I'm careful with my words and avoid such behavior as much as possible. Rather than saying I didn't achieve this easily, I'd rather show it through my actions over a long period and be respected for it. But since I do have the urge to boast, I tend to indulge that online rather than in real life.

▷ What is the most ridiculous rumor you’ve heard about yourself online?

Outside of DC Inside and Trollbox, I don’t do any online activities on sites like YouTube, Twitter, or Instagram. I'm not part-timing for any exchange, either. Even posts I didn’t make—such as high-stake certifications or buying Samsung Electronics stock—spread instantly and become accepted as fact, regardless of the truth. I realized that a lot of news articles actually lack credibility more than I thought.

▷ Please introduce your usual trading process.

Low-leverage chart trading is my basic strategy. Since entering the institutional sphere in 2021, the market has become more correlated with traditional markets, and I feel my own accuracy has dropped, so I’ve started referring to international news as well.

▷ Why do you prefer technical analysis?

From early on, I valued chart analysis over news. It’s because it’s difficult for individuals to be first to get news that can turn the market, and in an unstable market, even neutral or good news can still be met with falling prices, while in strong bull markets, prices often rise even on bad news. That’s why I valued technical analysis more.

▷ How do you manage the pressure of handling large assets?

For me, it’s more about the proportion than the absolute amount. When my seed was ₩1 billion, buying ₩100 million worth caused less anxiety than buying ₩10 million worth when my seed was only ₩30 million.

▷ What is your favorite exchange?

BitMEX, for sure. It’s less about the features and more about how it fits my trading style.

▷ How do you decide your leverage?

Looking at my total portfolio, I cap leverage at 1.5 to 2 times, maximum.

▷ Did exchange regulations affect your choices?

Even if there are problems with an exchange, it’s hard for individuals to know—look at FTX, for example. Rather than blind trust, I assume any exchange could encounter issues, so I never deposit a large portion in one place.

▷ Have you met Arthur Hayes, or would you like to?

No comment on this question.

▷ How do you view the market outlook for the rest of 2025?

I mainly trade short-term, so I can’t really tell about the long-term outlook.

▷ Do you think the entry of institutions has changed the nature of the market?

It’s definitely changed a lot. It feels like we’re following regulatory issues more, and there’s more movement like US stocks than pure crypto movements.

▷ Are there any altcoins you recommend for this cycle?

KRW (Korean Won).

▷ Are there any macroeconomic issues you’re watching?

I focus on US-related issues, such as interest rates.

▷ Do you have advice for beginner traders?

Out of 10 traders, 2 make money and 8 lose. Keep that in mind, and don’t invest more than you can handle—most people are not meant for trading.

▷ Is trading a matter of skill or luck?

There’s some luck involved, but it’s mostly skill. People without proper trading systems who only rely on luck often fail—I’ve seen this so much in the Trollbox. I think risk management is more important than just picking entry points.

▷ Do you have any principles that you value?

Principles are very important. I think rules about entry points change with the market meta, but risk management is always constant for me.

▷ Any motto you keep in mind?

Not really, but something I do keep in mind while trading is not to get caught up in FOMO (fear of missing out). I think FOMO is scarier than fear itself.

▷ What keeps you trading?

It’s like progressing up a ranking leaderboard. There’s also a sense of self-actualization.

▷ If you weren’t a trader, what would you be doing?

Hard to imagine.

▷ What’s your long-term goal?

I think my long-term goal would be to build a family and live happily.

▷ How would you like people to remember you?

I want to be remembered as someone who remained wise in the face of countless temptations.

▷ Do you lick the lid of your yogurt?

Yes.