Whale Using Circular Loans to Long BTC Gets Liquidated, Suffers Over $14 Million Loss



Over the past year, this whale employed a circular lending strategy of collateralizing WBTC to borrow USDC, then purchasing WBTC again, using leverage to accumulate 742.8 BTC with an average cost basis of approximately $89,137.

One hour ago, the whale liquidated all 742.8 BTC through FalconX at a price of $70,266, recovering $29.75 million USDC to repay Aave loans, ultimately suffering a loss of $14.02 million.

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