Drift hacker’s 20x ETH short and BTC long nets $658K paper profit in a day

Cointime reports: The Drift hacker’s address (0x45d…c00ca) opened a $20 million position — a 20x ETH short paired with a 20x BTC long — and was sitting on $658,000 in unrealized profit within a day, as the ETH/BTC rate fell 3.56%. BTC and ETH both dropped sharply early on November 9, then BTC rebounded more strongly than ETH, widening the gain on the trade.