A newly created wallet received 3,100 ETH from Tornado Cash, then sold it for 6.92 million USDC and moved the funds to Hyperliquid.
According to Lookonchain, the address is suspected of belonging to a hacker. It then opened a 20x leveraged long position of 169.47 BTC and a 20x leveraged short position of 5,740 ETH on Hyperliquid. The positions had notional values of $12.84 million and $12.83 million, respectively, for a combined total of about $25 million.
· The long and short positions are almost equal in size, so the net directional exposure is far smaller than the $25 million gross total.
· At 20x leverage, the maintenance margin and liquidation price for each position are the figures that determine how long they can stay open—but those details weren’t provided.
With the same amount of capital, would you first calculate the difference between the two liquidation prices, or look at where the money came from?
According to Lookonchain, the address is suspected of belonging to a hacker. It then opened a 20x leveraged long position of 169.47 BTC and a 20x leveraged short position of 5,740 ETH on Hyperliquid. The positions had notional values of $12.84 million and $12.83 million, respectively, for a combined total of about $25 million.
· The long and short positions are almost equal in size, so the net directional exposure is far smaller than the $25 million gross total.
· At 20x leverage, the maintenance margin and liquidation price for each position are the figures that determine how long they can stay open—but those details weren’t provided.
With the same amount of capital, would you first calculate the difference between the two liquidation prices, or look at where the money came from?
