Trader Scores $1.28 Million Profit on Papertrade, Loses $450,000 Later

By Bitcoincryptos ResearchUpdated 7 days ago1 min read

A trader has netted $1.28 million on a new 1,000x exchange platform called Papertrade by exploiting discrepancies in Hyperliquid's Ethereum prices. The platform allows users to trade with up to 1,000 times the value of their actual assets, amplifying potential gains and losses. The trader's success was short-lived, however, as they later lost $450,000 when 30 short positions were liquidated on Saturday night after staying open for more than three hours.

Source

"Trader Scores $1.28 Million Profit on Papertrade, Loses $450,000 Later" — The Block

This article is Bitcoincryptos' summary and analysis of reporting originally published by The Block. Read the full original report at the link above.

ETH · 7D · $2,366−6.7%

Trader Scores $1.28 Million Profit on Papertrade, Loses $450,000 Later

Circle Eyes Expansion into 40 Developing Markets for Stablecoin Issuance

Strive Prices SATS Preferred Offering at $90