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Hackers Suck at Trading: The Story of How This Fraudster Lost $7M Trading ETH
In a shocking turn of events, a fraudulent wallet linked to illicit hacking activities has lost a staggering $6.9 million in just one trade, according to blockchain analytics firm Lookonchain.
The story begins with the wallet receiving 12,282 Ethereum (ETH) three months ago, valued at around $23.72 million at that time and sold for $1,932 per coin. Fast forward to today, the same fraudulent entity purchased 4,958 ETH at $2,495, totaling $12.37 million.
The stark reality is that this hacker has lost a whopping $6.9 million on their trading endeavors, proving that even those with malicious intentions are not immune to the risks of cryptocurrency trading.
It appears that this fraudster has been attempting to turn a profit by using high-risk strategies and excessive leverage. Unfortunately for them, the market had other plans, and their trade went sour.
Source: cryptopotato.com
