4 million dollars turned to dust!

The cause of the incident dates back to Binance's announcement of the upcoming delisting of ALPACA. Generally speaking, when a cryptocurrency is delisted, market sentiment collapses, and everyone waits to sell and for a sharp decline. However, ALPACA took the opposite route, with its price surging nearly 650% in a short time. This bizarre rebound caught many short sellers off guard, and the liquidation volume even briefly exceeded that of Bitcoin, becoming the market's 'harvester'.

This Bybit trader's position was liquidated under such extreme market conditions. Data shows that his ALPACA position was liquidated when the price reached $0.91556, resulting in significant losses.