The most famous futures account on $HYPE has been wiped out: $56K grew to $12.25M, then just $21,800 remained within 72 hours
On October 15, the on-chain analytics platform Lookonchain reported that trader Machi Big Brother’s account on Hyperliquid had been liquidated, leaving a balance of just $21,787.78. It took about four months to grow $56K into $12.25M, but only one sharp downturn to give it all back.
1. Just how complete was the drawdown? From a peak of $12.25M to $21,787.78, that’s a drawdown of about 99.8%. Even more striking, compared with the original $56K in capital, the current balance is now less than 40% of the starting amount—in other words, 60% of the principal is gone too.
2. An update on October 17 filled in the rest: after the liquidation, he deposited another 250,000 USDC into the account, and that was wiped out within two days. Lookonchain also noted that his profits on the platform had once reached as high as $44.84M a year ago. Now they’re entirely gone, and the account is down $36.85M overall.
3. The market conditions behind the liquidation: On October 15, BTC fell below $81,000 and ETH dipped to around $2,380. The previous day, about $811 million in derivatives positions across the market were liquidated, with long positions bearing the brunt. ETH also saw its largest single-hour liquidation on Binance in about six months that day: more than $157 million in one hour, 92% of it from longs.
4. The strangest detail: 25 minutes after being liquidated, he opened another 25x long position of 290 ETH, with a liquidation price near $2,324. In the preceding months, repeated position increases had already cost him about $75 million in realized losses.
The math of compounding with high leverage is brutal: the same strategy that helped him gain 219x also led to a 99.8% loss. The upside of on-chain accounts like this is that all the data is public. The downside is the same—every ill-timed increase in position becomes news.
#Hyperliquid #High Leverage
(Data sources: Lookonchain, 10-15 and 10-17; market and liquidation data for 10-14 and 10-15 are listed among the sources in the main text. Not investment advice.)
On October 15, the on-chain analytics platform Lookonchain reported that trader Machi Big Brother’s account on Hyperliquid had been liquidated, leaving a balance of just $21,787.78. It took about four months to grow $56K into $12.25M, but only one sharp downturn to give it all back.
1. Just how complete was the drawdown? From a peak of $12.25M to $21,787.78, that’s a drawdown of about 99.8%. Even more striking, compared with the original $56K in capital, the current balance is now less than 40% of the starting amount—in other words, 60% of the principal is gone too.
2. An update on October 17 filled in the rest: after the liquidation, he deposited another 250,000 USDC into the account, and that was wiped out within two days. Lookonchain also noted that his profits on the platform had once reached as high as $44.84M a year ago. Now they’re entirely gone, and the account is down $36.85M overall.
3. The market conditions behind the liquidation: On October 15, BTC fell below $81,000 and ETH dipped to around $2,380. The previous day, about $811 million in derivatives positions across the market were liquidated, with long positions bearing the brunt. ETH also saw its largest single-hour liquidation on Binance in about six months that day: more than $157 million in one hour, 92% of it from longs.
4. The strangest detail: 25 minutes after being liquidated, he opened another 25x long position of 290 ETH, with a liquidation price near $2,324. In the preceding months, repeated position increases had already cost him about $75 million in realized losses.
The math of compounding with high leverage is brutal: the same strategy that helped him gain 219x also led to a 99.8% loss. The upside of on-chain accounts like this is that all the data is public. The downside is the same—every ill-timed increase in position becomes news.
#Hyperliquid #High Leverage
(Data sources: Lookonchain, 10-15 and 10-17; market and liquidation data for 10-14 and 10-15 are listed among the sources in the main text. Not investment advice.)