Gate News reports that on March 24, cryptocurrency trader Jeffrey Huang (alias Machi Big Brother) experienced a severe loss over the past six months through leveraged trading on the decentralized exchange Hyperliquid, with his account shrinking from a peak of $44 million to about $30,000. According to Lookonchain data, his account was liquidated 335 times during this period, earning him the nickname “Liquidation King.” Hyperdash data shows that Huang’s total profit peaked at $44.8 million in September 2025, but ultimately he lost over $30 million.
On-chain data indicates that Huang’s account currently holds only $30,268, but Arkham Intelligence reports that he added another $500,000 and purchased $11.5 million worth of Ethereum (ETH). As of press time, he still holds two open positions, totaling 5,350 ETH and 8,000 HYPE, both showing unrealized losses.
Huang’s trading strategy is similar to that of another well-known leveraged trader on Hyperliquid, James Wynn. Wynn’s profit peaked at $87 million in May 2025, but large liquidations also significantly reduced his gains. Both traders demonstrate strong conviction and a habit of re-entering trades, highlighting the double-edged nature of leverage trading in the crypto market: huge gains can instantly turn into devastating losses.
Traders and analysts point out that such high-leverage operations may yield high short-term returns but carry extremely high risks, with market volatility capable of rapidly eroding funds. Trader Joe commented, “Larger size doesn’t mean safety; it amplifies every mistake. A $75 million loss reminds every trader to be cautious with leverage risk.”
This incident serves as a warning, emphasizing that crypto investors must prioritize risk management when pursuing high returns, especially in leveraged trading environments. Whether it’s Ethereum, Dogecoin, or other digital assets, high leverage can cause investors to experience significant wealth fluctuations in a short period.
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