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Market U-Turn Leaves Crypto Gambler $334M Poorer in 3-Hour Crash
In a shocking turn of events, a crypto trader has suffered a catastrophic loss of $334 million in just three hours as Bitcoin’s price skyrocketed past the $123,000 mark. The dramatic market shift caught many off guard, including this high-stakes investor who had aggressively bet against the upward momentum.
According to reports, the trader, known by his handle @qwatio on X, had been operating from the wallet address 0x916E and tracked by Lookonchain. In a display of desperation, he attempted to recoup earlier losses by shorting Bitcoin (BTC) at an alarming rate of 40x leverage, only for the market to defy expectations and surge upwards.
In a stunning reversal, this gamble went catastrophically wrong as the trader’s entire portfolio imploded in real-time. The collapse of his positions included the loss of $458 BTC ($55 million), $12,147 ETH ($36.55 million), and $5.4 million FARTCOIN ($7.33 million).
Source: cryptopotato.com
