A cryptocurrency whale recently experienced significant financial setbacks after a series of trades involving Zcash (ZEC) and Bitcoin (BTC). The whale initially closed a long position in ZEC, securing a $3.2 million profit. However, a subsequent short position in ZEC resulted in a $1.6 million loss, effectively erasing 50% of the earlier gains. Additionally, the whale had previously incurred a $7.7 million loss on Bitcoin trades, bringing the total losses to $5.56 million overall.