Machi Big Brother Wiped Out on Hyperliquid: $12.25M Account Left With $21.8K

A $12.25M Account Reduced to $21.8K

The size of the loss reads clearest against the account's own history. Machi Big Brother, the Taiwanese singer and entrepreneur Jeffrey Huang, has been fully liquidated on Hyperliquid, the decentralized derivatives exchange where repeated rounds of high-leverage trading made him one of the most closely watched figures in digital asset futures. On-chain data recorded on Thursday shows his account, which grew from $56,000 to $12.25 million in roughly four months, now holds just $21,800. The fall from the peak erased about $12.22 million, or 99.8% of the account's value, and measured against his original stake the balance has shrunk to less than half of the $56,000 he began with. According to a Thursday post from the on-chain analyst Lookonchain, which cites the Hyperliquid blockchain explorer, the trader “just got fully liquidated,” a four-month run the analyst summed up as “a roller coaster.” No leverage multiple appears in the record, but an account that rose more than 200-fold in four months and then emptied within days points to aggressive margin use throughout. On perpetual futures, positions are marked continuously against the index price, so a falling market shrinks margin in real time until the maintenance threshold is crossed; at that point the platform's smart contract closes the position and absorbs the collateral. Huang rose to prominence as a pop figure in Taiwan before turning to trading, and his Hyperliquid positions, often worth tens of millions at a time, became reference points for how far leveraged accounts can swing in this cycle. Earlier on Thursday the balance still stood at $129,000; a final round of forced closures then cut it to $21,800.

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Thursday post from the on-chain analyst Lookonchain.

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From $56,000 to $12.25M in Four Months

The collapse followed a stretch of visible success that makes it steeper. Ten days earlier, on October 5, on-chain tracking showed the trader had won twelve consecutive trades on PUMP futures, banking $2.14 million in the process. At that point his long positions were approaching $150 million in notional value, including 34,100 Ethereum (ETH) worth $92.98 million and 456 Bitcoin (BTC) worth $39.41 million. The market's slide then reversed the picture within days. He closed his Bitcoin longs and his HYPE and PUMP positions and bet everything on an Ethereum rebound, building a long of as much as 29,000 ETH, about $73.64 million at the time. Ethereum kept falling. By October 8 the account had shed $8.44 million in a week and slipped below $1 million, and further trimming of the book could not stop the decline. The ETH bet was the decisive one: concentrating a leveraged book into a single coin and a single direction left no hedge when the trend turned, and a position of 29,000 coins turned each further leg down into a larger margin shortfall. The $12.25 million peak also needs one distinction: it is account value at the high, not necessarily profit he cashed out along the way. The broader market did the damage. ETH trades near $2,381, down 5.2% over the past 24 hours, after slipping below $2,400 in early Thursday trade, and whale deposits have lifted ETH held on exchanges to a one-month high of 14.93 million coins, adding sell-side overhang to an already weak tape.

Support at $2,349 After the Liquidation

Composite support and resistance scoring places the nearest strong ETH floor at $2,349, scored 74/100, with a heavier level at $2,133, 80/100, where more indicators meet. Momentum data agree with the retreat: the RSI sits at 35.57, the MACD signal is bearish and the trend reads as a downtrend. Positioning is still tilted long, with a long/short account ratio of 2.65 and $9.87 billion in open interest, so another slide toward $2,133 would force more of the same forced deleveraging that emptied this account. Any rebound would first have to clear the $2.58K ceiling flagged in recent Ethereum chart analysis. The figure that closes the story is the distance itself: $12.22 million between the account's peak and what remains of it.