TechFlow, on August 27, according to on-chain analyst Ai Aunt (@ai 9684xtpa), four major addresses participated in a coordinated short squeeze operation against $XPL hedging short positions, collectively profiting up to $46.1 million. The leading address 0xb9c...6801e began accumulating long positions multiple times since August 24 and made a large purchase at 05:35 today, completely clearing the order book and earning $16 million in profit within just one minute. The other three collaborating addresses started closing their positions for profit when XPL reached its temporary peak price.
Analysis shows that two of the addresses share the same funding source, and the collateral for three main addresses was obtained via cross-chain transfers through debridge, with similar trading patterns indicating coordinated operations.
