BitMEX’s former CEO Arthur Hayes may lose more than $2 million due to an Ethereum-based token.
According to the information shared by the blockchain platform Lookonchain, Arthur Hayes sent 18.1 million LooksRare (LOOKS) worth $1.63 million to the cryptocurrency exchange OKX this morning.
LOOKS was launched via airdrop as the governance token of LooksRare, an NFT marketplace. The Ethereum-based token has a total supply of 1 billion.
Lookonchain to share According to the former CEO of BitMEX, via Uniswap and FTX between June 3 and November 3, 2022 15.5 million LOOKS at an average of $0.29 per unit for $4.5 million had bought it.
If Hayes sells these tokens due to the change in price, approximately $2.8 million may suffer damage.