Wu said that the decentralized derivatives platform Lighter posted on X that a certain whale recently failed in a long ARC attack. Its liquidity pool LLP Strategies mechanism completed its first real-world test in the past few hours and operated as expected. Lighter stated that the trader established a relatively large long position in the market, with about 600 other traders and market makers taking on counterparty positions on the platform. The open interest (OI) reached 50 million USDC. Ultimately, this large long trader lost about 8.2 million USDC, with LLP losses limited to approximately 75,000 USDC, and the risk-bearing short traders made a profit.