The analytics firm Lookonchain explores recent losses of a fraudster who lost millions of dollars in unsuccessful Ethereum trades.
Unsuccessful Traders Among Hackers
The analytics firm Lookonchain recorded the activity of a fraudulent wallet linked to hacking activities. Over the past three months, it received 12,282 Ethereum (ETH), worth about $23.72 million at the time. However, the hacker sold ETH at $1,932 per coin during the trading process.
Problems Not Just for Cybercriminals
According to CryptoPotato, trading issues also affect non-criminals. Recently, two traders lost millions due to high-risk and excessive leverage trading. One used 40x leverage, while the other 50x, resulting in significant losses.
Lessons from Blockchain Trading
These cases highlight the risks of blockchain trading, underscoring that even professionals face potential losses. Regardless of the source of funds, the risk of loss is always present.
The story of the fraudster who lost millions serves as a reminder that no trader is immune to failure in the cryptocurrency market.
