dwf-labs

I saw a post that talks about what happened with $DEXE .
A trader lost nearly $1.7 million on this. The post is written pretty thoroughly, so I summarized the key information.
Within a day, it fell from 46 to 5
On July 21, $DEXE crashed straight from around $46 to more than $5. The single-day drop was 88%. Trading volume of over $500 million poured in within a few hours, and the order book was basically wiped out. Whether it was high-position holders, people who added along the way, or those trying to bottom-fish, basically no one got out.
The OP said he started building his position at the beginning of July and bought slowly all the way up. Several trades combined lost nearly $1.7 million. One of them was a full-position 3x long: entry price 11.84, the mark price fell to 2.89, and the loss on that single trade was $650,000, with a return on investment of -226%. There were also two spot trades, with cost bases of 21 and 36.69; their unrealized losses were $600,000 and $430,000 respectively.