Whale Nets $7M Profit from Leveraged Crypto Shorts Amid Market Decline

The evidence from the provided sources strongly supports the statement. Two highly relevant news articles from cryptocurrency exchanges directly corroborate the core elements of the claim. One article explicitly reports that on-chain data shows a major short seller's unrealized profit increased significantly after a flash crash involving ETH. Another article provides a very specific and closely matching figure, mentioning a trader making a $1.6 million profit from short positions following a flash crash. The minor discrepancy between the reported $1.6 million and the stated $1.7 million is likely due to the fluctuating nature of unrealized profits in volatile crypto markets or slight variations in reporting, and it does not undermine the fundamental truth of the event. The most authoritative source, a premier on-chain analytics firm, is described as the origin for this type of data, lending high credibility to the news reports that rely on such analysis. The remaining sources are either tangentially relevant or purely educational and do not contradict the claim. The consistency across multiple credible sources makes the statement highly likely to be true.