How One Bet Cost This Trader Hundreds of Millions
In one of the largest single-day liquidation events this year, a trader known as "Qwatio" lost over $300 million in leveraged crypto positions within just three hours on Monday, on-chain data reveals.
Between 11:42 AM and 1:24 PM UTC, Qwatio’s high-risk shorts were forcefully closed as the market surged.
His liquidated assets included 1,743 BTC ($211M), 33,743 ETH ($102M), and 15 million FARTCOIN (~$20M). Factoring in trading fees, his net loss reached approximately $25.8 million.
The meltdown followed Bitcoin’s explosive rally past $123,000, triggering a wave of liquidations across bearish positions. Qwatio had heavily bet against the market, and as prices climbed, his collateral eroded, prompting exchanges to forcibly close his trades.
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This wasn’t his first loss. Just two days earlier, he suffered a similar blow—losing another $98 million in short positions across BTC, ETH, and FARTCOIN due to comparable market misjudgment.
Qwatio’s repeated overleveraging has made him a cautionary tale amid crypto’s renewed volatility.
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