Hyperliquid trader “0xa523” has overtaken James Wynn to become the platform’s largest losing whale, racking up over $40 million in losses in under a month, according to onchain data.
Hyperliquid trader “0xa523” has overtaken James Wynn to become the platform’s largest losing whale, racking up over $40 million in losses in under a month, according to onchain data.
In a Tuesday post on X, Lookonchain revealed that the trader’s downfall was driven by a string of high-leverage missteps, including a $39.66 million loss on Hyperliquid (HYPE), where he sold 886,287 tokens before the asset rebounded. Had he held the position, it would now be worth nearly $9 million more.
He later lost over $35 million on a long Ether (ETH) position, flipped to a short, and then lost another $614,000. His current Bitcoin (BTC) short is also underwater, showing an unrealized loss of $1.8 million, according to data from Hyperdash.
Hyperdash shows the wallet is running a $152 million position with 28.69x leverage and has a combined monthly loss of $39.5 million. Margin usage stands at 114.74%, with full exposure to short positions.
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James Wynn lost $23 million in past month
Whale 0xa523’s bad trades and missteps place him at the top of Hyperliquid’s leaderboard, surpassing the previous titleholder James Wynn, who posted a $23.6 million loss last month.
In July, Wynn disappeared from social media, briefly deactivating his X account after updating his bio to simply read “broke.” He returned days later with two high-risk positions, including a 40x leveraged Bitcoin long worth $19.5 million and a 10x PEPE long valued at over $100,000.
Wynn first drew attention in late May, when his $100 million leveraged Bitcoin position was liquidated, followed by another $25 million loss on June 5. He later claimed that large market players had deliberately targeted his liquidation levels.
Related: Lion Group doubles down on Hyperliquid as HYPE breaks a new high
Tate’s Hyperliquid losses reach $726,000
Whale 0xa523 and Wynn aren’t the only ones bleeding on Hyperliquid. Last week, Andrew Tate, the former kickboxing champion and controversial influencer, opened a long position on the Trump family-linked World Liberty Financial (WLFI) token, which was liquidated for a total loss of $67,500.
The liquidation occurred less than two weeks after he opened a 3x leveraged short position on the Kanye West-linked YZY token, which also went south. Tate’s cumulative losses stand at over $726,000 on Hyperliquid.
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