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Home Crypto News

Humpy the Whale Cost FTX, Alameda $1 Billion in Losses, Lawsuit Alleges

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November 11, 2024
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Humpy the Whale Cost FTX, Alameda  Billion in Losses, Lawsuit Alleges
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According to the filing, in January 2021, Meerun began accumulating a position in BTMX, an illiquid token, eventually holding around half the supply, and helping drive up the price by over 10,000% in three months. He then allegedly exploited a flaw in FTX’s margin trading rules by using his stake as collateral to borrow tens of millions of dollars from the crypto exchange.

Tags: AlamedaallegesbillionCostFTXHumpylawsuitlossesWhale
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