Huo Xing Cai Jing reports that on August 26, Huang Licheng, known as "Maji Dage," posted a response clarifying that recent media reports in Taiwan claiming his investment portfolio had surged 84-fold were "fake news." Previously, reports stated that Huang Licheng capitalized on last week’s one-sided rally in the crypto market, leveraging approximately $1.5 million in long positions to grow them to around $11.15 million, recovering roughly $11 million. Over the past 10 months, his cumulative losses from long positions in ETH amounted to approximately $35 million; after this recent gain, his net historical loss has been reduced to about $24 million. On-chain data previously indicated that his cumulative historical losses remained in the tens of millions of dollars.
MarsBit: Magi Denies '84x Return on Investment' Rumors as False News
MarsBitShare
Summary
On-chain news shows Magi (Huang Licheng) denied recent claims of an 84x return on investment, calling the reports false. Earlier reports in Taiwan suggested he turned a $1.5 million position into $11.15 million. Magi clarified that his ETH trading history shows cumulative losses of approximately $35 million over 10 months, with recent gains still leaving him down around $24 million. On-chain data confirms his losses remain in the millions.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.