Seeing everyone on the timeline talking about Brother Sun, I also recalled a past incident involving Sun. Everyone says Sun is very shrewd and always profits without loss. In reality, many times, Sun ends up suffering big losses precisely because he is too clever or too fond of small gains. For example, the $PGALA incident on Huobi in 2022 went like this: someone discovered a loophole in $GALA and then minted a lot of $GALA on the BSC chain around 3-4 AM. At first, Binance and OKEx supported $GALA deposits on the BSC chain, but then risk control must have alerted them, and they quickly closed the $GALA deposits on the BSC chain. Only Huobi, having just changed hands, did not notice these abnormal transactions at all, and then everyone went crazy buying $GALA from the BSC chain to deposit on Huobi, causing a crash because too much $GALA was minted on the BSC chain. Initially, there was a price difference of tens of thousands of times, and later it was arbitraged but still had a few...
Show original
29.36K
134
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.