The alleged trader leveraged 325 ETH with the ETH/USDT pair at 25x, which caused him to lose 90% of the invested capital. Following the drop of the cryptocurrency, he sold his Ether holdings to recover part of the capital.

Those seeking to make money quickly from the price variations of cryptocurrencies usually get bad results. A group of 58 people sent more than USD 70,000 to a supposed trader, who announced an investment fund.

The trader, identified as @Ozono_Merval on Twitter, said that he invested the funds raised in Ether (ETH). He allegedly made the transaction on the Binance exchange over a week ago, according to local media.

Pablo Roberto Kobylañsly, 53, leveraged 325 ETH with the ETH/USDT pair at 25x, a high-risk position. A slight setback supposedly caused the trader to lose 90% of the capital invested in just six days.

In recent days, the alleged trader wrote on Twitter that he regretted that everything was losing money. He said that he was feeling terrible and could not even sleep, so he needed a break.

On Twitter, the trader had formed a community with which he shared investment signals and technical analysis. His supposed common investment fund did not have the corresponding authorization from the National Securities Commission (CNV). However, the trader told his followers that he had developed investment packages with different types of returns.

Kobylañsly wrote that he sold his remaining ethers to recover part of the capital. Supposedly, he did it out of desperation after the price of the cryptocurrency dropped sharply. He stated that he wanted to die and had no other source of income because he had left everything for that project. The cryptocurrency trader said that he acted badly, not thinking about what he was doing.

Users Consider They Lost Their Investment in Ethereum

Those who trusted @Ozono_Merval with their capital without personally knowing him now consider that they lost their investment. For example, a student from La Plata, who preferred to protect his identity, stated that the operator gained the trust of his followers.

Among the multiple reactions that the event triggered, some users classified it as a scam rather than an investment error. One of them, Carlos Riello, noted that a follower had warned him about a scammer who had raised a lot of money from unsuspecting investors. In the case of @Ozono_Merval, it seems that he made fun of his victims with the “Trovato and Beto” model.

User @criptuit recalled that sensible traders do not leverage or allow the liquidation of their positions when the prices of cryptocurrencies fall. He considers that @Ozono_Merval may have run away with the capital he raised.

The cryptocurrency ecosystem is susceptible to scams to which users should be alert. For that reason, they should not allocate funds to strangers or people who promise high returns in a few days. Besides, professional traders suggest not investing too much money in Bitcoin to avoid regretting in the event of a market crash.

By Alexander Salazar

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