Markets· ★★· bearish·

Wallet trading with 1000x leverage on Papertrade loses $933K

  • —Cumulative losses for the wallet on Papertrade reached $933,200
  • —37 of 1,058 closed positions were liquidated, with $361K USDC in margin losses
  • —The wallet's cumulative trading volume hit $10.31 billion in BTC and ETH
  • —The wallet staked 84.98 million PAPER, or 1.59% of the platform's total staked supply
Why it matters: The case highlights how 1000x leverage on Papertrade can wipe out capital fast even with massive turnover.
#BTC#ETH
Source: TokenPost
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