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CoinGape 2025-04-03 06:13:31

Crypto Trader Loses $4M Due to a Simple Exchange Mistake, Should You be Worried?

Crypto Trader Loses $4M Due to a Simple Exchange Mistake, Should You be Worried?

An anonymous crypto trader is bearing a $3.79M loss after the popular crypto exchange Binance implemented updates on the leverage and margin tiers for specific cryptos. With the dominance of this exchange, its action often has a significant impact on the industry, especially around listing and delisting, affecting the value of digital assets and the investors’ holdings. Crypto Trader Lost $3.79M on ACT Price Crash According to the Lookonchain post , Binance’s implementation of updates to leverage and margin tiers on Acet (ACT) tokens has affected the holders significantly. As the changes took effect on April 1, 2025, investors with holdings before that were impacted. One crypto trader alone faced a $3.79M liquidation as the ACT price crashed to $0.1877. This highlights the risk of sudden adjustments in leverages, as the traders who fail to adjust their positions end up facing massive liquidation losses. Besides, this is not the only affected crypto investor. Another lost nearly $2.17M with the ACT price crash. Lookonchain reveals that the individual’s holding’s worth was $2.49M months ago, but it is worth only $320k when they reported. ACT Price Crash Persists, Should You Worry? The Binance exchange update is considered a major mistake among the community as the event led to the massive Acet price crash . With major liquidation, the ACT’s worth crashed by more than 50%. The token is still down, bearing a 15% loss on the 24-hour frame. This reveals that the selling sentiments are high, as the investors’ confidence is declining on the asset. It currently trades at $0.06137 with a market capitalization of $77.2M. Also, its trading volume is down by 56% to $1.21M, showcasing fearful investor sentiments. This serves as a reminder that investors should stay informed about market news. More importantly, manage their actions accordingly; otherwise, massive losses may happen, similar to those of the aforementioned crypto trader. Although this is a standard part of the crypto trading industry, investors must manage their risk exposure carefully. More importantly, trades should be made carefully around this token. This is because volatility is high in the current scenario, especially as Trump escalated the trade war. The post Crypto Trader Loses $4M Due to a Simple Exchange Mistake, Should You be Worried? appeared first on CoinGape .

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