According to a recent report by Arkham Intelligence, the liquidators of Alameda Research have incurred significant losses, amounting to at least $11.5 million, since taking control of the company’s trading accounts.

The report states that one wallet under the control of liquidators has seen a series of preventable losses due to liquidations.

One example provided is that of an account that initially had a short position of 9,000 Ether ($10.8 million) with a net balance of $15.2 million when the liquidators first took control, but after a string of liquidations, the account’s current value now stands at a net balance of $300,000.

Another liquidation occurred when Alameda wallets removed $7 million in USDC and $4 million in DAI from the decentralized crypto lending platform Aave, placing the position at a high risk of liquidation and resulting in $11.4 million of USDC being sold off to liquidation bots on Optimism, while the Aave treasury took another $100,000 in USDC as liquidation tax.