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James Fickel lost about 18,000 ETH by going long on the BTC/ETH trading pair

2024-09-14 07:11
Odaily News Lookonchain monitoring shows that James Fickel lost about 18,000 ETH (US$43.7 million) due to long BTC/ETH trading pairs. From January 10 to July 1, James Fickel borrowed 3,061 WBTC (172 million) from Aave and exchanged them for 56,445 ETH at an exchange rate of 0.05424. Since August 7, he has spent 12 million USDC to buy 211 WBTC and exchanged 16,000 ETH for 671 WBTC (US$39.9 million) at a price of US$0.042 to repay Aave's debt. Currently, he has a debt of 2,196 WBTC (US$132 million) on Aave, with a total loss of about 18,000 ETH (US$43.7 million).
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