Data shows that a whale holding 5 million shares in a blockchain-based South Korean ETF experienced a significant drawdown, with its holdings briefly falling to -83%.

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According to ChainCatcher, Hyperinsight monitoring shows that the South Korean stock index plunged 6.7% today, triggering a circuit breaker at one point. Dragged down by this, the EWY (iShares Korea ETF mapping contract) deployed by Trade.xyz on the Hyperliquid platform also fell sharply, currently trading at $122.5, a 24-hour drop of 4.2%.

The largest long position in EWY on the chain (0x629) was hit hardest, with its position briefly falling to -83%, with a holding size of $5.5 million, an average price of $128.9, a liquidation price of $117.7, and a liquidation loss of 4.1%.

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