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

Update 10:52 UTC: As of October 15, ETH saw more than $157 million in positions erased in a single hour on Binance, the largest hourly liquidation event in six months, with over 92% of all liquidations across markets hitting longs.

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.

Reports indicate that Huang did not stay out of the market after the liquidation: within hours he reopened a leveraged Ethereum long, this time at 25x, leaving the rebuilt account exposed to the same coin that triggered the wipeout. The move came against a market still under heavy selling, with Bitcoin dropping below $81,000 and ETH trading near $2,380 during the session. The broader derivatives tape was equally punishing, with roughly $811 million in positions cleared across crypto futures on October 14, though the wider liquidation figures sit outside the scope of Huang's own ledger. In a later reading on Thursday, by 15:50 UTC, on-chain records put his final balance at $21,787.78, updating the earlier $21,800 figure and leaving a fraction of the $12.25 million peak, and the new position means his next margin call is only one sharp leg down in ETH away.

The liquidation episode unfolded against macro and flow pressure now quantified in fuller detail. September annual U.S. inflation was reported at 3.7%, above the 3.6% market forecast, a hotter reading that reinforces expectations of tighter monetary conditions and weighs on risk assets. Across derivatives, open interest stood near $140.9 billion after the selloff, and a separate 24-hour liquidation wave leading into October 9 had already reached $1.09 billion, roughly $1.05 billion of it in long positions. That skew left bullish exposure like Huang's Ethereum longs particularly vulnerable when the $80,000 to $81,000 Bitcoin support zone broke: after trading below $81,000 during the session, Bitcoin had slipped below $80,000 by 15:50 UTC.

Hourly chart data from TradingView, by 15:50 UTC, adds fuller detail on how the CPI release drove the session: from the post-print high on the evening of October 14 to the low by 15:50 UTC, Bitcoin later fell from $83,926.73 to $80,203.88, a maximum drawdown of 4.44%, while Ethereum slid from $2,520.47 to $2,316.85, down as much as 8.08%. The same report also notes core CPI rose 2.6% annually and 0.3% monthly, above forecasts of 2.5% and 0.2%, with headline CPI up 0.6% on the month. Off the charts, the wipeout landed a day after a tabloid sighting placed Huang in a Taipei Starbucks on October 14, and Taiwanese media put his peak-to-trough loss of roughly $12.23 million at about NT$3.8 billion.

The wider liquidation wave that took out Huang's account also set a record on Ethereum itself. As of October 15, ETH saw more than $157 million in positions erased in a single hour on Binance, the largest hourly liquidation event in six months, with over 92% of all liquidations across markets hitting longs. The 24-hour total reached $292 million in ETH, against roughly $200 million in BTC, and the sweep broke ETH's attempt to hold gains near $2,800, sending it to $2,362.43. Open interest shrank from close to $20 billion to $15 billion, and the ETH fear and greed reading fell to 29, the lowest sentiment since July. One Hyperliquid whale's large long now pays $670K in funding and is down $11 million unrealized, while fresh shorts built toward $2,600 raise the chance of a short squeeze.

@lookonchain · X post

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 puts the nearest strong ETH floor at $2,247.68, scored 92/100, with a second backstop at $2,133.29 at 80/100 where more indicators meet. Momentum data line up with the trend label: the RSI sits at 34.22, the MACD signal is bearish, and the broader trend is down. Positioning leans long, with a funding rate of 0.0036% and $9.84 billion in open interest alongside a 2.63 long/short account ratio, so a break below $2,247.68 would put that leverage to work in the other direction. Any rebound has to clear the $2,596.73 level first, the strongest overhead marker at 88/100, then the $2,530.74 ceiling at 83/100, before the $2,462.35 level at 69/100 comes into play. Closing the story is sentiment itself: a Fear & Greed reading of 53/100, neutral ground for a token down 5.73% in 24 hours (as of 11:24 UTC).