Where do the futures money that traders lose on centralized platforms go?

Originally, for every losing person, there is a winning person who takes the money. That is, if we have a group of people betting on the rise of a currency, there is another group betting on its fall to a certain price. If someone loses their bet on the rise, someone else wins from those betting on its fall, and so on... The platform profits from taking commissions, fees on opening the position, and leverage. This is legal and well-known.

But... the dark side of the matter
is that centralized platforms are the only ones with access to real data and transaction records, and they only show you a percentage that can be easily manipulated. Due to their access to the actual number of people betting on the rise of the currency and their knowledge of the liquidation price, they use a market maker, also known as a liquidity provider, where they inject large liquidity opposite to the majority of traders to liquidate them and take their money.

Of course, when we talk about market makers here, we are talking about billions being entered and exited within a few seconds. The matter is relative and depends on the currency, meaning that if you open trades on Bitcoin or Ethereum, manipulation is not impossible but very difficult, and the decline and manipulation are limited to a few tens of dollars. However, for other currencies with low liquidity, it is very easy.