Odaily reported that, according to monitoring by Onchain Lens, a wallet suspected to be related to karna0x has fully closed its ZEC short position after ZEC moved higher. The wallet address was identified as 0x152...a7c2, and the completed position closure resulted in a loss of more than $3.8 million.
A short position is a directional trade that benefits when the price of the asset falls. In this case, ZEC moved in the opposite direction of the short trade, and the wallet exited the position after the token’s rise. Onchain Lens described the address as suspected to be associated with karna0x.
ZEC is currently quoted at $514, with a 24-hour increase of 9.3%. Against that price backdrop, the monitored wallet’s ZEC short has been fully closed, with the realized loss exceeding $3.8 million. The original report did not provide additional details on the size, entry price, or execution path of the position.