{"id":140724,"date":"2024-10-27T19:00:04","date_gmt":"2024-10-27T17:00:04","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=140724"},"modified":"2024-10-27T14:17:17","modified_gmt":"2024-10-27T12:17:17","slug":"crypto-trader-faces-mindblowing-55-million-loss-from-recent-trades","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/crypto-trader-faces-mindblowing-55-million-loss-from-recent-trades\/","title":{"rendered":"Crypto Trader Faces Mindblowing $55 Million Loss From Recent Trades"},"content":{"rendered":"

The trader, known as James Fickel, incurred losses<\/a> <\/strong>totaling 22,500 ETH, equating to approximately $55 million, through trades in the BTC<\/a><\/strong>\/ETH<\/a> <\/strong>pair.<\/p>\n

Fickel initially borrowed 3,061 WBTC via the decentralized platform Aave and exchanged them for 56,445 ETH between January and July.<\/p>\n

During this period, the conversion rate was approximately 0.05424. After August 7, he invested $12 million in USDC<\/a> <\/strong>to acquire 211 WBTC and traded 47,476 ETH for 1,888 WBTC, valued at $113.5 million, to settle his Aave debt.<\/p>\n