A crypto trader reportedly traded PEPE coins on the Binance exchange with margin leverage and lost $1 million dollars overnight. This story represents an unspeakable reality for many other traders who rarely make headlines.
A trader under the pseudonym Crypto Nerd on the website X (formerly Twitter) reported the loss on April 13.
Specifically, Crypto Nerd explained that he had opened a long position in #PEPE with 3x leverage and $1 million worth of #Tether USDT stubcoin. This dramatic result was further complicated by the fact that the memcoin trader reportedly had less than $ 1,000 in his bank account.
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