The whale "7 Siblings" held 596,800 ETH through leveraged lending and is currently experiencing a paper loss of $27.7 million.

"7 Siblings" deposited 596,800 ETH (US$1.765 billion) on the lending protocol Spark through eight addresses, making them the largest depositors on Spark. They then borrowed US$193 million worth of stablecoins (including DAI, USDT, and USDS) from Spark. During the price drop in October and November of last year, they used these borrowed stablecoins to buy 49,287 ETH at an average price of US$3,531. To date, they have suffered a paper loss of US$27.7 million. The 2nd to 7th, 10th, and 11th largest addresses on Spark belong to 7Siblings.