A whale's attempt to attack the Lighter protocol by going long on ARC failed, resulting in a loss of $5.3 million.

 according to Lookonchain monitoring, a certain whale (0x5F64) deposited 8.39 million USDC into Lighter to go long on ARC, establishing a long position of 210 million ARC tokens (20.45 million USD), pushing the price up to 0.15 USD, attempting to attack the Lighter protocol by going long on the ARC token. Subsequently, the ARC price dropped, the long position was liquidated, and the whale withdrew the remaining 3.06 million USDC from Lighter, losing 5.3 million USD. Another whale who bought 16.2 million ARC tokens (573,000 USD) two months ago used a DCA strategy to sell 9.8 million ARC tokens (0.115 USD each, 1.13 million USD), still holding 6.4 million ARC tokens (303,000 USD), making a profit of 861,000 USD.