Ethereum Whale Liquidated After 8x ETH Long, Suffering $4.86 Million Loss and Full Withdrawal from Hyperliquid
ETH/USDT
$39,049,302,904.94
$2,145.26 / $2,009.54
Change: $135.72 (6.75%)
-0.0018%
Shorts pay
COINOTAG News, December 16, cites Onchain Lens metrics indicating a whale that previously absorbed a $3.34 million loss on a long ETH bet has newly reopened an 8x leveraged ETH long position. The move signals renewed high-risk exposure within the current crypto landscape.
That position has since been wiped out, with the trader incurring an additional $1.23 million in losses. In total, the account has logged a $4.86 million drawdown before withdrawing all remaining funds from the Hyperliquid venue, underscoring ongoing volatility and risk controls in leveraged crypto trading.
Market participants should note the fresh liquidation underscores the risk profile of extreme-leverage bets and the importance of prudent risk management. The reported sequence—historic loss, new 8x exposure, complete liquidation, and fund withdrawal—reflects a cautionary case for traders and crypto lenders alike.