The bloodbath on October 11 was truly a historic moment. Industry insiders have directly stated that this could be the most terrifying liquidation wave in the history of encryption.

Longs and shorts both exploded, with tens of billions of dollars evaporating in an instant, and the liquidation data from major exchanges flooded the screens to the point of numbness. Many people haven't even recovered from this shock, and then DeFi has another incident— the Balancer protocol was surprisingly hacked at this crucial moment.

The market was already weak to begin with, and now, the security of the infrastructure is being questioned. Some say this is "when it rains, it pours," while others believe this turmoil will directly flush out many leveraged players.

Anyway, the date 1011 is likely to be written into textbooks. With extreme market conditions and hacking incidents, under the dual impact, I don't know how many accounts have directly gone to zero.