A Whale Attempts to Long ARC to Attack Lighter Protocol Fails, Losing $5.3 Million

According to Lookonchain monitoring, a whale (0x5F64) deposited 8.39 million USDC into Lighter to long ARC, establishing a long position of 210 million ARC ($20.45 million), pushing the price up to $0.15 in an attempt to attack the Lighter protocol by longing the ARC token. Subsequently, the ARC price fell, and this long position was liquidated. The whale withdrew the remaining 3.06 million USDC from Lighter, incurring a loss of $5.3 million. Another whale, who had purchased 16.2 million ARC ($573,000) two months ago, sold 9.8 million ARC ($0.115 each, $1.13 million) using a DCA strategy, still holds 6.4 million ARC ($303,000), and realized a profit of $861,000.