Hyperliquid Trader Fumbles $26M ETH Short Profit, Faces $716K Loss After Doubling Down
2025-07-10 07:42:35
Main Idea
A trader on Hyperliquid lost $716K after failing to close a 50,000 ETH short position that had previously shown a $26M unrealized profit, highlighting the volatility and risks in crypto trading.
Key Points
1. Wallet address 0xCB92 opened a 50,000 ETH short position that initially showed an unrealized profit of over $26M but ended in a $716K loss due to not closing the position.
2. The loss occurred as ETH surged, triggering a stop-loss that liquidated the position.
3. The incident is reminiscent of another trader, 'James Wynn,' who faced massive liquidations in May after a $1.25B notional long position collapsed.
4. The trader's wallet held only a short position, and no broader strategy was evident from the on-chain data.
5. Hyperliquid has gained attention for high-stakes trading, with this case underscoring the risks of leveraged positions in volatile markets.
Description
An ether (ETH) trader known only by their wallet address became the subject of on-chain attention after a massive short position flipped from deep unrealized profit to a loss in a matter of days. According to data from Lookonchain, wallet address 0xCB92 opened a 50,000 ETH short position on Hyperliquid, which at one point showed an unrealized profit of over $26 million. But rather than closing the transaction, the trader held on — even adding another 10,000 ETH to the short position even as the ...
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