An Arca-connected wallet incurred a $100,000 loss on Polymarket after betting on the outcome of a market regarding Microstrategy's Bitcoin sales. The wallet, which received deposits from and is signed by an Arca wallet, invested the amount on a "YES" position in the "Did Microstrategy Sell BTC By May 31st" market at an average price of 0.5 cents. The market ultimately expired at zero, resulting in a total loss for the wallet.
Arca-Linked Wallet Loses $100K on Polymarket Bet
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.