Bloody bath on futures!

Listing $LA DESTROYED TRADERS: -600,000 $ in just minutes! Yesterday on the Gate platform, the $LA futures started at an abnormally high price, sharply contrasting with DEX markets. This provoked a mass wave of short positions — but the market struck at the very heart: the price suddenly soared to $25, i.e., x62 from the price on DEX!

Result? Complete liquidation of all cross-margin shorts. People lost tens of thousands, and some — up to $600,000. Funds vanished in an instant.

But there were also heroes of the moment who quickly adapted and made astronomical profits.

Lesson of the day: never play with cross-margin if you’re not ready to say goodbye to everything. The market gives — the market takes away. Especially when you least expect it.