Machi Big Brother Jeff Huang's Longs Liquidated 8 Times in 6 Hours

Eight Forced Closures in Six Hours

Jeff Huang, the trader known across crypto as Machi Big Brother, was liquidated eight times in six hours overnight, and the ledger now shows his Hyperliquid account at zero, down to roughly $1.50 before the last holdings cleared. On-chain data flagged the sequence at 09:08 Taipei time on Friday (01:08 UTC). Every position force-closed in that window was a long on ETH, the asset that secures Ethereum's proof of stake network and pays its gas fee, and none of the closures involved any other market. The rounds began at 02:31 Taipei time, a second landed at 04:04, several more clustered between 04:33 and 04:47, and a final round ran at 08:18. The heaviest single strike came at 04:34, when a long of about 215 ETH was cleared in one pass. Timing carries the mechanism: Binance's hot wallets began moving large sums at 04:24, and every closure after 04:33 fell in the minutes that followed, on the night the exchange was breached and the wider market sold. Market data put ETH at $2,202 as of 08:33 Taipei time, down 6.4% across 24 hours. On Hyperliquid, a perpetuals venue that runs its own chain rather than an Ethereum layer 2, the closures were automatic: its smart contracts shut a position the moment account equity drops below the maintenance margin, and each forced close of an ETH long turns borrowed exposure into a market sell at exactly the tick that triggered it, pressure that pushes the next underwater account toward the same line. By around 11:30 Taipei time the tracked address held no positions and its value read zero. Added up across the on-chain fills, the eight rounds produced roughly $31,000 in realized losses.

The same address has been through this before, and the record shows how different the endings can be. On October 15, liquidations cut the account down to about $21,800, leaving it damaged but alive. In August, the same wallet absorbed nearly 500 liquidations and still finished with a $12.5 million profit built on ETH longs, a run that made it one of the most watched books on the platform. Friday inverted that pattern. The night opened with the Binance breach, hot wallet flows began at 04:24, and the market sold into them, so the ETH longs that had paid through August gave their margin back inside six hours. The mechanics left no room for a manual exit. Once the first round cleared part of the position, the remaining equity sat thinner above the maintenance line, so the next leg down took another slice, then another, through the 04:33 to 04:47 cluster and a last round at 08:18, until nothing leveraged remained. A liquidation prints as a realized loss at the price of the forced trade, and once the book is empty there is nothing left to mark. That is where the sequence stopped: arithmetic, not intervention. There was simply nothing left to force-close, and the run ended with $1.50 on the books. The realized losses of about $31,000 look small against an August windfall of $12.5 million, but they cover only the eight forced rounds; the ledger shows the address itself ended the morning at zero with no holdings. The session's other leg ran in parallel: Binance hot wallets moved $2 billion in crypto to a fresh Tornado Cash-funded address as the breach unfolded, and selling pressure spread across Ethereum and the wider altcoin market.

Levels After the Wipeout

COINOTAG's own readings frame where the market settled once the cascade ended. ETH trades at $2,236 at press time, 0.8% above its level when the closures were flagged at 01:08 UTC, though still 3.1% lower across 24 hours. Our support and resistance scoring places the strongest floor below the market at $2,153.5, scored 76 out of 100, while resistance at $2,326.7 carries a 99 out of 100. Perp funding reads -0.0063% with open interest near $9.4 billion. Analyst Ali Martinez has set a $2,000 downside target for Ethereum beneath that support band, and dormant whales moved 56,000 coins to exchanges earlier in October, so supply was already stacked before the night's forced selling cleared the last of Huang's longs.