A whale attempted to carry out a long position ARC attack on Lighter but ultimately failed, resulting in a $5.3 million loss

BlockBeats News, February 26th, according to LookIntoChain monitoring, Whale 0x5F64 attempted a long position ARC attack on Lighter, but ultimately failed. Its position was liquidated, resulting in a loss of $5.3 million. 0x5F64 deposited 8.39 million USDC into Lighter, attempting to long ARC. It opened a long position of 210 million ARC (approximately $20.45 million) and pushed the price up to $0.15.

Another whale address purchased 16.2 million ARC for $573,000 two months ago, and during this surge, used Dollar-Cost Averaging (DCA) to sell in batches, selling 9.8 million ARC at $0.115, cashing out $1.13 million. The address still holds 6.4 million ARC (about $303,000) and has locked in profits of $861,000.

Subsequently, the ARC price plummeted. The long position of 210 million ARC was liquidated. 0x5F64 then withdrew the remaining 3.06 million USDC from Lighter. This attack operation failed, resulting in a final loss of $5.3 million.