UXLINK HACKER STARTS CLOSING $148M LONG POSITIONS ON HYPERLIQUID — IS THIS A MASSIVE MARKET RECOVERY WAVE OR AN AGGRESSIVE DELEVERAGING DUMP TRAP?
The infamous hacker behind last year’s $40 million UXLINK exploit has officially begun closing out a massive $148 million long position across Hyperliquid. On-chain monitoring confirms the hacker’s wallet cluster (0xde8d..., 0x9c6a..., 0x31b1...) opened huge leveraged long bets in August across 30,282 ETH ($70.25M), 550,000 SOL, and 35.03 million XRP. Today, the hacker deployed a 16-hour TWAP (Time-Weighted Average Price) algorithm to fully unload all long positions, with liquidation set to finalize early tomorrow morning.
This should lean as a dump for ETH, SOL, and XRP short term as algorithmic selling pressure hits open order books.
Here is the exact detail timeline traders are completely ignoring: back in August, after laundering 11.54 million USDC from the hack, this entity built an impressive trading track record on Hyperliquid—winning 5 out of 6 major trades for a total profit of $5.71 million. However, after holding this $148M multi-asset long position through intense market chop, the hacker is cutting losses. The 16-hour TWAP closure is expected to settle at an estimated net loss of $3.3 million.
The real danger for retail traders is buying the minor bounces while this automated algorithm drips sell-side liquidity into the market. TWAP executions break large position unwinds into steady, non-stop market sells every few minutes. Until the 16-hour window expires, any spot recovery attempt on ETH, SOL, or XRP faces a continuous supply overhang as liquidators absorb retail bids.
Do you think the market can cleanly absorb this $148M TWAP exit, or will ETH, SOL, and XRP break down into deeper support levels before morning?
The infamous hacker behind last year’s $40 million UXLINK exploit has officially begun closing out a massive $148 million long position across Hyperliquid. On-chain monitoring confirms the hacker’s wallet cluster (0xde8d..., 0x9c6a..., 0x31b1...) opened huge leveraged long bets in August across 30,282 ETH ($70.25M), 550,000 SOL, and 35.03 million XRP. Today, the hacker deployed a 16-hour TWAP (Time-Weighted Average Price) algorithm to fully unload all long positions, with liquidation set to finalize early tomorrow morning.
This should lean as a dump for ETH, SOL, and XRP short term as algorithmic selling pressure hits open order books.
Here is the exact detail timeline traders are completely ignoring: back in August, after laundering 11.54 million USDC from the hack, this entity built an impressive trading track record on Hyperliquid—winning 5 out of 6 major trades for a total profit of $5.71 million. However, after holding this $148M multi-asset long position through intense market chop, the hacker is cutting losses. The 16-hour TWAP closure is expected to settle at an estimated net loss of $3.3 million.
The real danger for retail traders is buying the minor bounces while this automated algorithm drips sell-side liquidity into the market. TWAP executions break large position unwinds into steady, non-stop market sells every few minutes. Until the 16-hour window expires, any spot recovery attempt on ETH, SOL, or XRP faces a continuous supply overhang as liquidators absorb retail bids.
Do you think the market can cleanly absorb this $148M TWAP exit, or will ETH, SOL, and XRP break down into deeper support levels before morning?