Do you really understand the meaning of "cutting leeks"? — A crypto enthusiast's three-year reflection

When it comes to “cutting leeks” in the crypto world, many people have heard the term, but not everyone truly understands its meaning. “Cutting leeks” may seem like a derogatory term, but it actually reflects the most naked game rules in the crypto space: it’s not just simple deception and scams, but a carefully designed process that leads participants to voluntarily rush in, only to be gradually harvested. It took me three years to truly understand this logic.

What Does “Cutting Leeks” Really Mean?

“Cutting leeks” can be understood as a market phenomenon where those with influence and capital advantages create expectations, manipulate emotions, and induce a sense of urgency, guiding retail investors to buy at high prices. Then, by releasing negative news or dumping, they trap retail investors, making them hold the bag, and profit by exiting. In simple terms, “cutting leeks” means treating retail investors as “liquidity providers” and “bagholders.”

Rather than calling it a scam, it’s better described as a psychological war. project teams, influencers, and early investors have already written the script—they’re just waiting for a continuous influx of new leeks to enter.

From Victims to Bystanders: My Three Years in Crypto

In my first year in crypto, like most beginners, I was full of dreams of quick profits. I joined various airdrop groups, new coin launch groups, project chat groups—wherever someone said “XX coin will rise,” I jumped in. The result? I got liquidated twice within a month, holding a bunch of worthless tokens. At that time, I had no idea I was already being targeted.

In the second year, I started copying trades, thinking I had latched onto a “big thigh,” but in reality, I was just a bagholder. The most ironic part was I didn’t realize the true intention of those “signal providers”—their signals were essentially just dumping. When I got scammed, they had already cashed out.

It wasn’t until the third year that I built my own small circle, observed many people and projects, and finally saw clearly: “cutting leeks” really means “getting you to run in yourself, then slowly harvesting.” That is the most sophisticated method.

The Standard Routine of Cutting Leeks: From Pie-in-the-Sky to Dumping

Any successful “leek cutting” follows this classic process:

Step 1: Painting the Pie—whitepapers depict a bright future, communities are filled with phrases like “financial freedom” and “ten-bagger coins,” creating endless fantasies.

Step 2: Creating FOMO—“Hurry up, now is the best time to buy,” “It’s about to be listed on exchanges,” “Missed one wave, don’t miss the next.” Urgency and fear of missing out crush rationality.

Step 3: Finding Endorsements—getting influencers to recommend, claiming “soon to be listed on major exchanges,” “invested by well-known institutions.” These endorsements quickly build trust and attract wave after wave of retail investors.

Step 4: Pumping the Price—the price starts soaring, early entrants profit handsomely, retail investors see the price rising, fear of missing out drives them to buy, trading volume and price surge together.

Step 5: Dump and Harvest—project teams, early players, influencers cash out, sell off in large quantities, causing the price to crash instantly. Retail investors get trapped, dreams shattered. The leek is cut.

It may seem like an investment project, but in reality, the script was written long ago; retail investors are just playing their assigned roles.

The Human Psychology Behind “Leek Cutting”

Why is “leek cutting” so effective? Because it exploits three human weaknesses:

Greed—always wanting to buy low and sell high, dreaming of overnight riches, which clouds judgment.

Fear—afraid of missing out, afraid of being left behind; seeing others profit makes eyes turn red.

Ignorance—knowing nothing about the project but being overwhelmed by FOMO.

These three factors combine to create a perfect environment for “leek cutting.”

How to Avoid Being Cut?

After three years of observation and reflection, I now believe in only three things:

First: The project must have real use cases and products—don’t be fooled by whitepapers and concepts. Ask yourself: what real problem does this project solve? Are there genuine users?

Second: Judgments should be supported by logic—not “feeling” that a coin will rise, but “based on certain data and fundamentals, I believe it has potential.” Feelings are the least reliable.

Third: Strategies should include risk control—don’t go all-in, don’t put all your funds into one project, set stop-losses, and manage risks.

Crypto isn’t heaven or hell; it’s a battlefield that amplifies human desires. Those who can’t control their greed will be cut. Once you understand what “cutting leeks” means, you’ll be on the path to being less frequently targeted.