ETH Whale Executes ‘Rug Pull’ with $36.12M Buyback Amid $1.24M Loss

According to recent analysis from EmberCN, a significant movement has been observed involving a major Ethereum (ETH) whale, which executed a controversial Rug Pull strategy. Approximately five hours ago, this whale liquidated half of their short position, utilizing 36.12 million USDT to repurchase 10,531 ETH at an average price of $3,430. In this transaction, they faced a pronounced loss, given their initial shorting cost was pegged at $3,458, leading to a total loss of around $1.24 million. This strategic liquidation highlights the volatility and unpredictability characterizing the cryptocurrency market. Currently, the whale still holds a residual short position of 11,088 ETH, valued at approximately $37.85 million. Such movements underscore the complexities of trading strategies within the crypto space and warrant scrutiny from market participants.