Korean crypto startup Uprise to compensate investors after disastrous LUNC short trade
The investment startup made a short bet on LUNC in May using client funds. The trade blew up and wiped out 99% of its assets.
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Korean startup Uprise lost $20M shorting LUNA
The crypto custodial service and AI trading platform managed to lose nearly all of its customers’ assets by shorting LUNA, the Terra Classic native token.