In-Depth Analysis: Unveiling a Certain KOL's Dual Account Hedging Strategy

Recently, a well-known KOL in the crypto circle has attracted widespread attention due to his "loss persona." However, through in-depth analysis of on-chain data and account behavior, we uncovered a meticulously designed Hedging operation: the apparent massive losses may actually be a carefully choreographed act. In the crypto world, while identity and funds can be easily concealed, transaction records will never lie.

After a detailed investigation, we discovered the account used by the KOL on a certain trading platform and revealed the fact that he has been betting against himself. One account is going long on Bitcoin, while the other account is going short on Bitcoin. Although there were suspicions about this before, we now have conclusive evidence.

So, how did we discover this hidden account? First, we noticed that the KOL earned $44,000 through invitation commissions, of which $16,000 came from a single wallet. The trading volume of this wallet reached $1 billion, and more importantly, its registration time was earlier than when the KOL started sharing the invitation link. This coincidence caught our attention.

After a deep analysis of the trading situation, we found that these two wallets traded almost the same set of tokens. This has once again increased our suspicion.

Next, we focus on analyzing Bitcoin trading. It is well known that this KOL became popular due to a series of crazy Bitcoin trades. We marked the trades of the two accounts on the chart, clearly showing that they always stand on opposite sides.

On that hidden account, the KOL is profitable, and there are no liquidation records. Currently, the account shows a paper profit of up to 4.2 million dollars.

Looking at the current position, we found that he is long on ETH with 25x leverage. Interestingly, this trade is almost identical to that of one of his friends.

As everyone has long suspected, this KOL did not actually suffer huge losses, and now we have finally found evidence. However, the problem is that his "tragic loss persona" has become a very effective marketing tool.

Currently, this KOL has accumulated 370,000 fans, 2,360 "smart fans", and a large amount of social media interaction. All of this has provided him with enough "credibility" to promote his Meme coin, sell courses, and even try various ways to continue monetizing.

Every time something goes viral online, there will always be someone questioning: "Didn't he lose 90 million dollars and is now only making 4 million?" Let's clarify:

1. He did not actually lose 90 million dollars. That was just an unrealized gain at a certain moment, not actual cash in hand.

2. When his main account shows a profit of 90 million USD, other accounts are likely to be at a loss (this is the basic principle of Hedging).

3. The size of the hedging positions may not be completely the same, which is worth considering.

4. If he made this transaction on this trading platform, he is likely to have made similar operations on other platforms (such as a well-known exchange he often transfers to).

The reason he became famous is precisely because people were attracted by that exaggerated "$90 million" figure, often believing it just by looking at the headline. If we judge a trade by "maximum unrealized gains," then almost everyone has "lost" millions at some point.

Seeing those with strong backgrounds and rich experience being deceived by such emotional marketing only shows that this method is indeed very effective. As long as it can attract enough attention and discussion, for some people, this is a successful marketing strategy.