Recently, on-chain data revealed a shocking scene: well-known investor 'Brother Ma Ji' on Hyperbot$ETH had all long positions liquidated, with the final liquidation price fixed at $2,878, and the account balance only remaining at $15,919. The data also showed that he incurred losses of up to $1.83 million this week, while the total historical losses accumulated to a staggering $21.2 million.
This series of numbers has triggered deep questioning far beyond ordinary liquidation events: was this a tragic trading failure, or a meticulously designed 'wash trading money laundering' combination?
A veteran who has been in the circle for many years, why does he continue to experience such huge and seemingly 'irrational' losses? More and more analyses point to a possibility: this might be a complex operation to launder funds using the characteristics of cryptocurrency trading.
The suspected path may be as follows:
1. Source of funds: Deposit funds that may have problematic origins (such as the so-called 'on-chain black U') into relatively anonymous trading platforms like Hyperbot.
2. Directed losses: Establish high leverage long positions on the platform and 'allow' or even 'guide' their liquidation of losses, completing the 'destruction' of problematic funds on the chain.
3. Hedge profits: At the same time, establish corresponding short positions on another highly compliant mainstream exchange (such as Binance Coinbase) that requires strict KYC. Due to synchronized market trends, the short positions here will achieve almost certain profits.
4. Result: Problematic funds are 'reasonably' lost on the anonymous end, while clean and legal profits are safely pocketed on the compliant end, completing the 'exchange' of the nature of the funds.
The terrifying aspect of this operation lies in its exploitation of the global interconnectedness of the cryptocurrency market and the symmetry of contract products, disguising illegal 'money laundering' as legitimate 'trading losses'. Even if there are doubts from the outside, it is difficult to distinguish it from ordinary failed trades without direct evidence.
When the market is filled with secretive games, what is the true choice of value?
The incident with Brother Maji (regardless of the truth) and the actions of the @Max Charity community form the two most distinct mirrors in this industry.
One side is a huge capital game operating in a gray area with questionable motives; the other side is in the sunlight, with every step being officially endorsed and shared by CZ and Giggle Academy, completely transparent value construction.
#Max The community does not have complex financial engineering; their 'ledger' is simple and clear: the 12th #GiggleAcademy classroom is set up at Yilan Tongle Elementary School, and what they 'earn' is the smiles of children and verifiable educational achievements. While part of the corner of the crypto world is still wrestling with the 'color' of funds, the #Max community has long devoted all its energy to creating an indisputable, clear value.
Perhaps this is why CZ chooses to recognize them: in an industry that needs to rebuild trust, extreme transparency and pure goodness itself are the hardest barriers and the most scarce assets.
