Lost $1.7M, TechnoRevenant-linked wallet receives 136M PAPER to become second-largest holder

Odaily report: A wallet linked to TechnoRevenant staked 744,000 HYPE on Hypercore, borrowed 3 million USDC, then lost $1.7 million on Papertrade, and as a result received 136 million PAPER, becoming the second-largest PAPER holder and the trader with the largest realized perpetual contract loss on the platform.

As of now, the wallet has earned back 1.051 million USDC through staking rewards, with a net loss of approximately $650,000. Before accounting for staking rewards, its average cost for PAPER was about $0.0125 per token, the highest among the top five holders.