A trader has placed a short order on an altcoin due to signs of the project being a scam. 📉 Subsequently, this position recorded an initial profit.

However, the market had an unexpected turn when this token was delisted from Binance. This was followed by a "fake pump" that caused the short position to face a loss of up to -1100%.

This event led to a loss of -$37,000 for the short positions of tokens $PIPPIN, $MMT, $TNSR. 💸 This is a testament to the unpredictable volatility of the crypto market.

(Information is for market update purposes only and is not investment advice).