Liquidators of Alameda Research incurred an approximately $11.5 million loss over two weeks after taking control of the bankrupt cryptocurrency trading firm’s wallet, according to a January 16 report by blockchain analytics platform Arkham Intelligence.

Arkham noted that two weeks before the liquidators took control of Alameda’s wallet “0x997,” the address had a short position of 9000 ETH ($10.8 million) against the collateral of $20 million in USDC and $4 million in DAI with a net balance of $15.2 million.

The report stated that as of January 16, the account’s current value stands at $1.1 million short Ether against $1.4 million in USDC with a net balance of $300,000 after a series of liquidations over two weeks.