According to on-chain analyst Aunt Ai's monitoring, Binance's real-time smart money account Hanmancheol continuously shorted the COAI token for three consecutive days, paying a total of US$774,000 in funding fees, with an average opening price of US$10.79 and an average liquidation price of US$18.97, resulting in a loss of up to US$1.378 million.

The account had made profits in the previous six contract transactions this month, but it still failed to offset the losses from this margin call.