A Binance trader, identified by the account SMXKX, has reportedly earned over $12.28 million through strategic short positions on gold and silver. According to on-chain analyst Ai Yi, the trader began shorting silver in late January, initially incurring floating losses exceeding $1 million. However, by shorting gold at a short-term peak on January 29, the trader reached a profit high of $12.38 million by February 5.