Yesterday and today I saw this kid scamming with a few M (supposedly 10M), which was a bit surprising because some brothers who invested also have their own studios and are experienced, yet they still got tricked by this kid.

Later I realized the reason might be that Polymarket's way of playing is different from regular arbitrage, offering a larger strategic space. More people want to get in on this, but how to approach it carefully leaves room for scammers (claiming to be very good at arbitrage on PM).
This is similar to the ICO era where scammers said I can invest in projects you can't even access.
Here are two takeaways from this incident:
1/ Show off wealth wildly and be overly high-profile—just look, don’t get involved or form利益关系 with them.
All the real big shots I know personally are not flashy or showy about wealth, and none of them would ask you to give them money to help them make more. If they’re already so rich, why would they need to borrow others’ money to grow? 💰
Learn their thinking, cognition, logic, and skills from those who can make money—enough said.
2/ When the market is bad, prioritize risk management and tighten investment lines.
Why are DeFi projects often hacked and cut in half during bear markets? Why are so many projects halting? Isn’t it because it’s no longer profitable, and many start to get crooked?
Why didn’t this kid run away earlier and keep creating a persona? It’s likely because when the market was good, Ponzi schemes could keep rolling, but now that there are no new projects to exploit, they just shut down.
This mindset is very common. Even many not-so-black hackers are increasing phishing and attacks as their earning paths shrink.
So we are now in a high-risk period. Everyone must be very cautious, ideally move funds off-chain and out of protocols and other places, and wait for the market to recover.