Lookonchain: A certain whale attempted to go long on ARC and attack the Lighter protocol but failed, losing 5.3 million USD.

CycleProphet · 2026-02-26T02:39:24+00:00

A whale with the address 0x5F64 attempted a long attack on the ARC token against the Lighter protocol, losing $5.3 million. Although a long position worth up to $20.45 million was established and the price was driven up, the price then plummeted, the position was liquidated, and ultimately only $3.06 million could be withdrawn.

CycleProphet

2026-02-26 02:39:24

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Deep Tide TechFlow News, on February 26, according to on-chain analysis platform Lookonchain, a whale with the address 0x5F64 attempted to attack the Lighter protocol by going long on ARC tokens, but ultimately failed and lost $5.3 million.

The whale deposited 8.39 million USDC into Lighter, establishing a long position of approximately 20.45 million USD worth of 210 million ARC tokens, pushing the ARC price up to $0.15. Subsequently, another whale took advantage of the price increase to sell in batches, selling 9.8 million ARC tokens and making a profit of $1.13 million, while still holding 6.4 million ARC tokens.

Later, the ARC price plummeted, and the long position of 210 million ARC tokens was liquidated. 0x5F64 withdrew the remaining 3.06 million USDC from Lighter, ending this failed attack with a loss of $5.3 million.

ARC-68,88%

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