Liquidation Event: Two Whale Addresses Experience $23.9M Loss on Aave

On October 11th, according to on-chain analyst Ai Auntie (@ai_9684xtpa), "The whale that has been continuously shorting BTC since March 2025 and has a cumulative unrealized loss of $21.31 million" turned losses into gains after holding the position for seven months. This morning, when BTC dropped to a low of $102,000, the whale was able to turn losses into gains and achieve a 24-hour profit of up to $26.52 million. Currently, the whale has taken profits on nearly 40% of the short positions and still holds 1,300 BTC ($144 million).

On October 11, Andrei Grachev, the managing partner of DWF Labs, stated: "If your project or business has been impacted by a recent flash crash, DWF Labs is willing to offer assistance. We can provide help to affected projects in various ways, such as capital infusion, investment, loans, or token buybacks."

October 11th. According to HTX market data, the cryptocurrency ZEC, which focuses on privacy, has surged above $275 contrary to the trend. It is currently trading at $269 and has seen a 24-hour gain of 15.6%, reaching a recent high.
Earlier, on October 1st, prominent angel investor Naval referred to ZCash as "Bitcoin's insurance". After this statement, ZEC began to rise, and it has seen a nearly 352% increase in the past 2 weeks.

On October 11th, the founder of Wintermute, wishful_cynic, posted on social media regarding the community's speculation that "Wintermute is collapsing in this downturn." He said, "Sorry to disappoint you, but Wintermute is completely fine. Everything is going on as usual."

On October 11th, Aaron Ong, the co-founder and chief technology officer of the decentralized perpetual contract trading platform Grvt, posted on social media that during this "most extensive liquidation event in the history of cryptocurrencies," the system of the platform remained stable, without any downtime or latency problems. It is reported that Grvt achieved 0 downtime and low latency throughout the extremely volatile market conditions, with no socialized losses. Emphasizing that platform reliability is not achieved overnight but is the result of being tested in such extreme market moments.