A wallet associated with GSR was liquidated due to shorting LAUNCHCOIN, with a total loss of approximately $4 million.

According to ChainCatcher, on-chain analyst MLM has monitored that a wallet associated with GSR (0xc7e...ce4f) was liquidated due to its short position in LAUNCHCOIN, resulting in the account balance dropping to zero. The wallet was liquidated for 64.593 million LAUNCHCOIN, worth $7.8 million, of which Hyperliquid LP took over 42.362 million LAUNCHCOIN, worth $5.2 million, and made a profit of over $800,000. In addition, the wallet was also liquidated on several other trading pairs, with a notional total of $4.9 million. In the past 24 hours, the total loss of this wallet was about $4 million.