Troubled crypto trading firm Alameda Research lost over $1 million in assets from liquidation last night, according to a report that the crypto intelligence firm Arkham shared with The Block.
The account initially held 9,000 ETH worth $10.8 million, with $20 million USDC and $4 million DAI as collateral. In all, the account's net balance was $15.2 million.
But a Jan. 14 report from Arkham shows that the account was "forcibly reduced," and $1.2 USDC was liquidated for 731 ETH. The account now maintains a $1.1 million ETH short against $1.14 million USDC and a net balance of $300,000.
"Surprisingly, transactions out of the wallet were made before and during liquidation, indicating that whoever was in control of the wallet either was unable to understand how to close out the positions, or was simply unwilling to," Arkham said in the report.
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