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Hackers Suck at Trading: The Story of How This Fraudster Lost $7M Trading ETH
A recent report by Lookonchain has revealed the astonishing tale of a supposed fraudster who lost an astonishing $7 million in a single, ill-fated trade. The incident serves as a stark reminder that even individuals with questionable morals can fall victim to their own reckless trading decisions.
According to the on-chain analytics firm, the fraudulent wallet received 12,282 Ethereum (ETH) three months ago, valued at approximately $23.72 million at the time. Unfortunately, this individual saw an opportunity to cash in and sold the entire stash at a whopping $1,932 per coin, resulting in a staggering loss of around $10 million.
Fast forward to today, and it appears that our fraudulent friend attempted to recoup their losses by purchasing 4,958 ETH at $2,495 per coin, totaling a massive $12.37 million. Unfortunately, this gamble has left them with a de-facto loss of around $6.9 million.
This unfortunate turn of events serves as a harsh reminder that even the most skilled hackers can fall victim to their own poor trading decisions.
Source: cryptopotato.com
