According to Lookonchain, James Fickel lost around 18,000 ETH ($43.7 million) by going long on the BTC/ETH trading pair. From January 10 to July 1, he borrowed 3,061 WBTC (172 million) from Aave and exchanged it for 56,445 ETH at an exchange rate of 0.05424. Since August 7, he spent 12 million USDC to buy 211 WBTC and exchanged 16,000 ETH for 671 WBTC ($39.90 million) at $0.042 to pay off Aave's debt. He currently has 2,196 WBTC ($132 million) in debt on Aave, for a total loss of about 18,000 ETH ($43.7 million).