TechnoRevenant-linked address lost $1.7 million on Papertrade, won 136 million PAPER to become the second-largest holder.

Oct 13, 11:21

October 13th, according to MLM monitoring, a wallet associated with TechnoRevenant borrowed 3 million USDC on Hypercore using 744,000 HYPE ($61.3 million) as collateral, and subsequently lost $1.7 million on Papertrade.

These losses earned him 136 million PAPER, making him the second-largest PAPER holder and the largest realized perpetual contract loser on the platform. So far, he has recouped 1.051 million USDC through staking rewards, with a net loss of approximately $650,000.

Before accounting for staking rewards, his average cost was approximately $0.0125 per PAPER, the highest among the top five holders.