Machi Big Brother's Hyperliquid account fell to about $21,800 after liquidations erased most of a balance that had peaked at $12.25 million. The collapse came as Bitcoin and Ethereum slid during a derivatives selloff.
Machi Big Brother's Hyperliquid trading account fell to about $21,800 on October 15 after a series of liquidations wiped out most of a fortune that had climbed from roughly $56,000 to $12.25 million in four months.
Lookonchain said the trader, Jeffrey Huang, turned an initial $56,000 into $12.25 million before the balance dropped. The decline equals about 99.8% of the reported peak.
Four ETH liquidations in about three minutes
Hypurrscan data showed four ETH liquidations within about three minutes, the last one covering 800 ETH at $2,331 per coin. The wallet's other liquidated ETH-USD perpetual futures positions covered 380 ETH at $2,379, 270 ETH at $2,374 and 200 ETH at $2,355.
The displayed values of those positions ranged from roughly $471,000 to $1.87 million. Before the fall, the account-value chart showed a climb to nearly $12.5 million from about $56,132 on June 25.
Lookonchain had earlier noted that Machi was closing positions as the market fell to reduce losses and avoid forced closure. An hour later, it reported he had been fully liquidated.
A derivatives selloff behind the move
The liquidation came as Bitcoin fell below $81,000 and Ethereum approached $2,380 during a derivatives selloff. Bitget Research put crypto derivatives liquidations at approximately $811 million on October 14, with open interest near $140.9 billion.
Cryptonews also cited macro pressure and a flow headwind. September annual inflation was reported at 3.7%, above the 3.6% market forecast, and U.S. spot Ethereum ETFs recorded $542.2 million in weekly outflows for the week ending October 9.
Machi opens another 25x Ethereum long
This is not the first heavy loss for the trader. Public blockchain trackers have documented hundreds of liquidations tied to the account, with losses running into tens of millions of dollars.
Cryptonews reported that Machi opened another Ethereum long using 25x leverage shortly after the liquidation. Without verified position terms, its liquidation threshold remains unknown.
Sources: CryptoPotato, Cryptonews
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