Most likely this person or trader isn't not experienced enough, because PEPE coin has been hyped by many people in crypt currency world and it became popular for a short time but look at its price now, and that is the wrong move that person does, risking too much money in future trade, thinking that he could doubled or earn a lot from a single trade which is looks like he didn't think it throughly and must be pressured to trade futures in order to not miss the opportunity but in reality that is the trap mindset of a trader, 2 things that person does, is he used futures and increasing the leverage which is a very big mistake if you are not experienced enough then stay away from futures because it can eat you whole if you make the wrong decision in that trade, imagine the regret and stress that persin is going through now, I don't want that feeling.
Inexperienced? He's been in crypto for over 7 years and has made $1M try if I do it probably won't reach that number, I think he has been experience so he can make a lot of money in crypto.
But this is his own fault that I think all his assets are in PEPE not diversifying, then he traded futures without stop-loses or he forgot? I don't know what happened exactly.
This is clearly a fatal mistake, the money that has been lost a lot is unlikely to come back again in a short time, but that's the risk in futures will be liquidated if not doing a good enough discipline.