Crypto trader Machi Big Brother has seen his Hyperliquid trading account fall to just $21,800 after building a $56,000 stake into more than $12 million over four months.
Summary
- Machi Big Brother’s Hyperliquid trading account fell from a reported peak of $12.25 million to approximately $21,800 following liquidation.
- Lookonchain said the trader had turned an initial $56,000 into more than $12 million over four months before losing nearly all of those gains.
- The liquidation occurred as Bitcoin dropped below $81,000 and Ethereum approached $2,380 amid heavy selling across the crypto market.
- Machi reportedly returned to trading shortly afterward, opening another Ethereum long position with 25x leverage.
According to blockchain analytics platform Lookonchain, the trader, whose real name is Jeffrey Huang, was fully liquidated on October 15 after a series of leveraged trades went against him.
In an October 15 X post, the platform said Machi had grown his initial $56,000 into $12.25 million through trading before his account balance dropped to $21,787.78.
The decline represents a loss of more than 99% from the account’s reported peak, effectively wiping out the gains accumulated over the preceding four months.
The account had been used to trade perpetual futures on Hyperliquid, where traders can borrow exposure to take positions larger than their available collateral.
Reports indicated that Machi returned to trading shortly after the liquidation, opening another leveraged Ethereum long position with 25x leverage.
Crypto market downturn triggers heavy liquidations
Machi’s losses occurred as Bitcoin and Ethereum faced renewed selling pressure, with BTC falling below $81,000 and ETH approaching $2,380.
The latest downturn followed several days of heavy liquidations across cryptocurrency derivatives markets.
On October 14, crypto.news reported another liquidation wave that erased approximately $811 million in leveraged positions. Open interest remained near $140.9 billion after the selloff, according to Bitget Research.
Bitcoin had already fallen below $82,000 following the release of hotter than expected U.S. inflation data. Annual inflation reached 3.7% in September, above the 3.6% market forecast.
Selling pressure had been building since the previous week, when crypto liquidations reached $1.09 billion in the 24 hours leading to October 9. Long positions accounted for approximately $1.05 billion of that total.
Ethereum faced similar pressure as U.S. spot Ether ETFs recorded $542.2 million in weekly outflows during the week ending October 9.
Machi’s reported decision to reopen a 25x leveraged Ethereum position followed the liquidation, leaving the trader exposed to further price movements in the cryptocurrency.