Machi Big Brother Hit by 8 Liquidations on Hyperliquid (HYPE) in 6 Hours

8 Liquidations in 6 Hours

The damage concentrated on one wallet, on one venue, on the long side of the book. On-chain data shows Taiwanese entertainer Jeffrey Huang, widely known as Machi Big Brother, absorbed 8 forced liquidations on Hyperliquid (HYPE), the decentralized perpetuals exchange, inside a six-hour window on Friday, October 30, and the sequence left his derivatives account holding just $1.50. Every open position on the address was closed. The positions were Ethereum (ETH) longs: as ETH fell and the collateral behind the leveraged book no longer covered the exposure, the venue's engine trimmed and then shut each position on its own, the standard mechanics of margin trading on a perpetual exchange. Hyperliquid's liquidation mechanism reduces or closes a position automatically whenever the market's move leaves the posted margin short of what the leverage requires, which is designed to stop losses from spreading past the collateral. A book that carried seven figures days earlier can therefore reach almost zero between two price updates, because the liquidation logic executes without a human in the loop. The Hyperliquid price, for the venue's own token, sits near $89.23, down 3.4% over the past 24 hours. The account-level wipeout landed inside a much larger deleveraging wave: derivatives data shows global crypto liquidations crossed $1.5 billion in the 24 hours to Friday morning, and about 84% of that total came from long positions. In conditions like that, a highly leveraged long reaches its liquidation level after a comparatively small move, and each closed position adds selling pressure of its own. Ether briefly slipped below $2,200 during the flush, and Bitcoin (BTC) touched roughly $76,460 before steadying. Elevated trading volume ran through perpetual venues as the cascade built, and the eight closes were logged against a single address, making the episode unusually easy to audit on-chain.

From $60,000 to $12.1 Million

Friday's wipeout ended a run that had made the account one of the most watched books on the platform. In August, on-chain records showed the same wallet had been built from under $60,000 to roughly $12.1 million, a more-than-hundredfold gain stacked through repeated leveraged trades. Hyperliquid settles its markets on its own Layer 1 blockchain protocol, so deposits, margin changes and closes all leave public traces, and the wallet's transaction history on Hypurrscan logs each of the eight closes in sequence. Monitoring by the on-chain analytics service Lookonchain flagged the sequence on the morning of October 30. Deposits, position sizing and forced closes all run through the platform's order types, which is why the whole sequence can be reconstructed trade by trade. The longer ledger is heavier: cumulative profit-and-loss tracking compiled from on-chain flows put the account's all-time trading losses near $36.85 million as of October 18. That figure is a historical running estimate, not a loss added on Friday, and later deposits and trades keep moving it. The $1.50 balance also needs its qualifier: it was the balance of that one account at the moment the last position closed, not Huang's total holdings, and it did not mean the wallet was finished. The same address received a fresh deposit of $250,000 after the wipeout, so the book stayed in the game. This wallet has been wiped and rebuilt before, and each rebuild came from new deposits rather than from any remnant balance. For readers new to the venue, How to Trade on Hyperliquid walks through the margin and liquidation mechanics that decided this account's fate. The HYPE token itself had recently traded about 7% below its record after the ICE-TradeXYZ deal.

Composite levels from our scoring model, which rates each support and resistance zone from 0 to 100, frame the aftermath: HYPE trades near $89.23, with the first support at $88.14 scored 85 out of 100 and a stronger shelf at $84.28 rated 100/100, where the 20-day EMA and the 0.618 Fibonacci level converge; a fuller Hyperliquid technical analysis tracks these as they evolve. Perpetual funding runs at 0.0075% and open interest stands near $2.29 billion, so leveraged positioning has not fully cleared. The arithmetic behind Friday stays whole: 84% of the $1.5 billion in global liquidations came from the long side, the denominator that turned one wallet's eight closes into a market-wide event.