Famous Singer Sparks 50 Billion Dollars With Coin Investment.."The remaining balance is 45 million won." [World Style Issue]

*This content was translated by AI.

Jeffrey Huang, a famous Taiwanese singer, reportedly lost about 50 billion won when he invested in cryptocurrency leverage.

According to blockchain analysis platform Look-on-Chain on the 23rd, Jeffrey Hwang suffered a series of liquidations while repeating excessive leverage transactions, recording a total accumulated loss of 33.35 million dollars (about 49.75 billion won).

He was found to have suffered a "clearing" of positions forced to end on a total of 335 occasions at Hyper Liquid, a blockchain-based futures exchange. In the cryptocurrency market, liquidation refers to a situation in which investors are forced to liquidate their holding positions because they do not meet the requirements for deposits.

As a result, his account balance, which once earned more than 44 million dollars (about 65.6 billion won), has plummeted to 32,79 dollars (about 45 million won).

Currently, Jeffrey Huang's account maintains a 25-fold leveraged long position worth about $900,000 (about 1.3 billion won) against Ethereum. The median entry price is $2,047.62, with a liquidation price of $2,016.35. Even if the price of Ethereum falls by only about 4% from the current level, additional liquidation can occur.

Industry experts believe the amount of losses has grown out of control as he has overstated his high-leverage position to quickly recover from previous losses.

Bitcoin World, a cryptocurrency media outlet, pointed out, "Leverage is a means to maximize profits, but the risk also increases exponentially," adding, "Without strict risk management, it can lead to rapid losses in an instant."

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*This content was translated by AI.