The old man probably still feared that ETH would rebound directly and continue to be trapped, so he chose to close half of his short positions 5 hours ago:

He spent 36.12 million USDT to buy back 10,531 ETH at $3,430 and repay the loan.

His comprehensive short selling cost was $3,458, which means that the liquidated positions realized a profit of $290,000.

His current short position is -11,088 ETH ($37.85M).

Address:

0x6c2a355929ee1262305e385ad49b84fe5f5a4777

0x2c89a2ee92b9870f55989b4132a58c0e85222d86