Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Crypto Trader Fumbles $26M Profit on ETH Short, Faces $716K Loss

Crypto Trader Fumbles $26M Profit on ETH Short, Faces $716K Loss

CryptotimesCryptotimes2025/07/10 15:15
By:LuqmanGopal Solanky

The crypto trader 0xCB92 on Hyperliquid fumbled over $26 million in unrealized profits on their ETHUSD short trade. Instead of closing the trade in profits, the trader held onto their short position which ended up closing at a $716K stop loss.

The wallet had a strong history of profitable trades on ETH before this. Their trade history shows a net PnL of over $5 million in completed trades over less than two months ago. An X post from Lookonchain stated that the trader had a 100% win rate on ETH trades before this move. 

At one point, the trader had an unrealised profit of over $26 million. But it later dropped to $13.9 million when he added another 10K ETH in late June. The most recent snapshot Lookonchain took was the trader in $6.43 million profit, before the trade was closed at a $716K loss. 

Crypto Trader Fumbles $26M Profit on ETH Short, Faces $716K Loss image 0 Source: Hyperdash

On-chain data shows that there are no other active long positions by the trader, raising questions about the reason behind the risky move. The trader seems to have a high bet on ETHUSD short, but when the bet failed, he ended up with a loss.

This story has also drawn comparisons with that of James Wynn, another big trader on Hyperliquid. Wynn lost over $100 million after a massive Bitcoin long amounting to a billion dollar was wiped out in May, following Trump’s tariff announcement.

The recent loss adds to growing concerns about extreme risk-taking. While the trader once seemed like a top performer, this move reflects how fast things can flip if proper trading cautions are not taken.

Follow The Crypto Times on Google News to Stay Updated!
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

New spot margin trading pair — LA/USDT!

Bitget Announcement2025/07/10 14:24

AINUSDT now launched for futures trading and trading bots

Bitget Announcement2025/07/10 13:00