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Trader Partakes in High-Risk Betting and Market Manipulation

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On March 7, according to the Lookonchain monitoring data, the trader GCR extracted 39.8 million USDT from Binance yesterday. In March 2022, the trader and Terr…

Trader Partakes in High-Risk Betting and Market Manipulation

On March 7, according to the Lookonchain monitoring data, the trader GCR extracted 39.8 million USDT from Binance yesterday. In March 2022, the trader and Terra founder DoKwon bet $10 million on the price of LUNA after one year compared with that of the same day, and also began to bear the market and make fake coins at the top of the market in November 2021; People were reminded to withdraw funds when FTX collapsed.

Lookonchain: Trader GCR extracted 39.8 million USDT from Binance yesterday

Interpretation of the news:


The recent activities of cryptocurrency trader GCR have raised red flags among investors as the trader seems to be engaging in risky strategies that may harm their investments. According to Lookonchain monitoring data, GCR withdrew a whopping 39.8 million USDT from Binance on March 7th. This move is significant, as it suggests that the trader may have insider information or may be preparing to manipulate the market to their advantage.

This suspicion is further supported by GCR’s past activities, which include a $10 million bet on the price of LUNA in March 2022 against Terra founder DoKwon. Although this may seem like a bold and confident move, it is also highly risky and may backfire if the price of LUNA does not meet their expectations.

Moreover, GCR’s activities are not limited to betting but also extend to market manipulation. They allegedly began creating fake coins at the top of the market in November 2021, which is a highly manipulative move that may cause widespread damage to the cryptocurrency market. This action may also explain GCR’s sudden withdrawal of funds, as they may be looking to capitalize on their activities before the market collapses.

The warning to withdraw funds when FTX collapsed further highlights the trader’s questionable practices. By suggesting that investors should withdraw their funds during a market collapse, GCR may be encouraging panic selling or taking advantage of the situation to buy low and sell high, further exacerbating the volatility of the market.

In conclusion, GCR’s recent activities demonstrate a willingness to take risks and engage in manipulative tactics that may harm investors. Therefore, caution is essential when investing in cryptocurrency, as the market is unpredictable and prone to sudden changes. Investors must also be aware of the risks involved in betting and market manipulation and should seek advice from reputable sources to make informed investment decisions.

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