Based on Coinomedia, Machi (@machibigbrother), a prominent figure in the crypto space, has suffered a major liquidation event, wiping out over $20.23 million in losses. His account balance is now down to just $15,538. The liquidation occurred as a result of leveraged positions falling below maintenance margin amid recent price drops in major cryptocurrencies and NFTs. The incident highlights the risks of high-leverage trading, even for experienced traders. The crypto community has reacted with mixed responses, with some expressing sympathy and others emphasizing the dangers of over-leveraging.
Machi's Crypto Liquidation Wipes Out $20M+
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