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The wallet associated with GSR was liquidated due to shorting LAUNCHCOIN, resulting in a total loss of approximately 4 million dollars.
Odaily News According to on-chain analyst MLM monitoring, a wallet associated with GSR (0xc7e...ce4f) was liquidated due to its LAUNCHCOIN short positions, resulting in a drop to zero account balance. The wallet was liquidated for 64.593 million LAUNCHCOIN, worth 7.8 million USD, of which Hyperliquid LP took over 42.362 million LAUNCHCOIN, worth 5.2 million USD, and made a profit of over 800,000 USD. Additionally, the wallet was also liquidated on several other trading pairs, with a nominal total of 4.9 million USD. In the past 24 hours, the total loss of the wallet was approximately 4 million USD.