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COINOTAG News on September 8 cites Coinglass data showing a trader’s short position in MYXUSDT on Bybit was liquidated, producing a realized loss of $4.7814 million when the price reached $7.57. The trade was closed by exchange-level margin enforcement after price moved against the short exposure.
Coinglass classifies this event as the largest single liquidation in the crypto market over the past 24 hours. The episode highlights concentrated leverage risk on derivatives platforms and reinforces the importance of strict position sizing and margin management for traders using Bybit and similar venues.
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