CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

Crypto Potato 2025-07-01 12:54:40

Hackers Suck at Trading: The Story of How This Fraudster Lost $7M Trading ETH

An on-chain analytics firm analyzes the losses from a fraudulent wallet. The beauty of trading on-chain lies in the fact that every transaction is 100% public – that goes for both professional traders, beginners, and, believe it or not – even hackers. This is the story of a supposed fraudster who lost millions in a bad trade. Hackers Are Not Savvy Traders Lookonchain, a popular blockchain analysis firm, noted the activity early this morning on its account on the social media platform X. The wallet in question, which, according to the analysts is linked to illicit hacking activities, received 12,282 Ethereum (ETH) three months ago, valued at around $23.72 million at that time, and sold it at $1,932 per coin. Earlier today, the same culprit purchased 4,958 ETH at $2,495, totaling $ 12.37 million. This results in a de-facto loss of around $6.9 million, as noted by Lookonchain. It’s Not Just Cybercriminals Out Of Luck As CryptoPotato reported yesterday, it’s not just bad actors that wind up out of pocket. We noted two separate instances in which two traders, cumulatively, lost multiple millions on very high-risk, overleveraged trades. Both were testing their luck with 40x and even 50x leverage, only to see their positions shrink as the markets did not turn in their favor. One tried one too many times to come on top, and the other one failed to realize a significant profit. This just goes to show that testing fate can quickly lead to an enormous shortfall, regardless of the trader’s intention and the manner in which the funds used for the transactions were obtained. The post Hackers Suck at Trading: The Story of How This Fraudster Lost $7M Trading ETH appeared first on CryptoPotato .

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta