Prominent cryptocurrency trader AguilaTrades has suffered a complete liquidation on the Hyperliquid platform, wiping out nearly all of his capital. His losses are now approaching $40 million.
The liquidation marks a dramatic collapse for the trader, whose long Bitcoin (BTC) position succumbed to a recent market pullback triggered by escalating tariff tensions and the absence of anticipated Federal Reserve rate cuts.
From Recovery to Ruin: AguilaTrades Suffers Catastrophic Losses on Hyperliquid
BeInCrypto Markets data revealed that over the past 24 hours, the crypto market has dipped 6.9% to $3.83 trillion. 80% of the top 10 coins have recorded losses. Bitcoin has dropped 2.8%, while Ethereum (ETH) has suffered a 3.8% decline.
Crypto Market Performance. Source: BeInCrypto Markets
Amid this, those who bet on the market rising suffered massive losses, with around $630 million in liquidations recorded in the past 24 hours. Coinglass data showed that most liquidations ($570.68 million) stem from long positions.
For Bitcoin specifically, long positions worth $141.93 million were liquidated, compared to short positions worth $7.4 million.
Lookonchain, a blockchain analytics platform, revealed on X (formerly Twitter) that AguilaTrades’ long Bitcoin position was also liquidated.
“AguilaTrades has been fully liquidated, wiping out almost all of his funds on Hyperliquid,” the post read.
This was a massive blow for the trader, who recently recovered all his losses. BeInCrypto reported that AguilaTrades’ bets resulted in losses totalling $32.7 million in late June, building up to as high as $35 million by July.
However, in mid-month, the trader managed to turn around his $35 million losses. Yet, these gains were short-lived. On July 25, the trader was liquidated for 720 BTC valued at around $83.3 million.
“From being down $35 million+, then clawing back to a $3 million profit, he’s now back even deeper in the red with $36 milllion+ in losses,” Lookonchain posted.
On July 31, OnChainLens reported that AguilaTrades experienced four consecutive liquidations but later raised his BTC position slightly. Now, with the latest blow, his losses are nearing $40 million.
“Once a top CEX trader, AguilaTrader lost nearly $39 million after being wrecked on-chain. Every long and short got counter-traded. A brutal reminder: public PnL = public target,” crypto influencer, Zia ul Haque, wrote.
AguilaTrades Hyperliquid Loss. Source: HyperDash
In addition to AguilaTrades, another high-risk trader, James Wynn, also faced a series of liquidations.
“James Wynn’s PEPE long position in another wallet also got hit with a cascade of liquidations, with total losses exceeding $1 million, and only $14,850 left in the account,” the blockchain analytics platform added.
Wynn’s losses follow his earlier win. BeInCrypto highlighted that the trader made over half a million in profit last week, his largest gain since May 25.
In contrast, some traders have capitalized on the market conditions. Lookonchain noted that a trader (0xCB92) went short on ETH with 20x leverage. The trader’s decision earned him a profit of over $3.7 million.
Thus, the disparity highlights the high-stakes nature of leveraged trading on platforms like Hyperliquid, where small price movements can lead to significant gains or catastrophic losses.
