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Coin Circle (120BTC.com) News: According to PeckShield monitoring data, an ETH wallet address rumored to be related to Longling Capital, a subsidiary of Cai Wensheng, chairman of Chinese technology giant Meitu, has transferred approximately 6.96 million USDT to repay the loan. debt on the platform Aave and send 5,500 ETH (current price of approximately $8 million) to the wallet.

Currently, according to tracking data from blockchain data company Nansen, as of press time, the address currently has approximately 122,174 WETH as collateral in AaveV2 (current price is approximately US$182 million), and the total debt position is approximately 51 million USDT and 35.28 million USDC, totaling approximately US$86 million.

 Cai Wensheng clarified that it was his friend’s address

As for who is this mysterious whale with 122,000 ETH? In late June, a currency KOL said that the wallet belonged to Longling Capital, a subsidiary of Cai Wensheng. As an early Bitcoin holder and industry investor, Meitu is also the first listed company in Hong Kong to announce its holdings of cryptocurrency.

In addition, according to previous reports by Blockchain Daily, Cai Wensheng also denied ownership of the wallet. He clarified in a comment: This is the address of my friend, a super Ethereum believer. When the highest price of ETH was 4,800, there were 280,000 Ethereums. At that time, there was basically no leverage, so I chose to continue to cover my position when it fell... A friend said that if the position is really liquidated, it can be regarded as a contribution to the cryptocurrency.

The wallet was almost liquidated when ETH fell below $1,000, causing market panic.