James Fickel incurred a loss of approximately 22,500 ETH due to overtrading BTC/ETH
According to Lookonchain monitoring, James Fickel lost about 22,500 ETH (55 million USD) due to his long position on the BTC/ETH trading pair. From January 10th to July 1st, he borrowed 3,061 WBTC (172 million USD) from Aave and exchanged it for 56,445 ETH at a rate of 0.05424.
Since August 7th, he spent 12 million USDC to purchase 211 WBTC and exchanged 47,476 ETH for 1,888 WBTC (113.5 million USD) at a price of $0.04 per unit in order to repay his debt on Aave. He currently has a debt of approximately980 WBTC (132 million USD) on Aave with total losses amounting to around22,500 ETH(55millionUSD).
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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