USDT to USDX Swap Leaves Investor With 74% Loss Amid Fund Lockup

According to Lookonchain, a whale’s $621,000 USDX investment has dropped sharply after Stream Finance’s $93 million loss disclosure, leaving withdrawal attempts unsuccessful.

USDT
USDX

Summary

On Nov. 7, blockchain tracker Lookonchain reported that a large investor lost $458,000, or 74%, in just 14 days after depositing $621,000 into USDXmoney. The investment’s value plunged to $163,000 following Stream Finance’s Nov. 4 disclosure of a $93 million loss. The investor’s subsequent withdrawal attempt failed, leaving the funds trapped within the platform.

Terms & Concepts
  • USDT (Tether): A stablecoin pegged to the US dollar, widely used for trading and transfers in cryptocurrency markets.
  • USDX: A lesser-known stablecoin used within specific blockchain ecosystems and platforms.
  • Redemption: The process of converting or withdrawing cryptocurrency assets from a platform into another currency or asset.