High-stakes crypto trader James Wynn lost over $25M in leveraged Bitcoin trades.
His downfall from a ~$100M peak, called “The Matrix attack,” was tracked on-chain.
Wynn cited Hyperliquid’s funding costs; another trader made $5.6M betting against him.
James Wynn, a high-stakes crypto trader who had previously seen his portfolio reportedly skyrocket from around $4 million to a peak valuation near $100 million, has now been effectively wiped out. In a dramatic series of highly leveraged Bitcoin trades, Wynn suffered losses exceeding $25 million.
This rapid downfall, tracked live on-chain by the crypto community, is being dubbed “The Matrix attack,” marking one of the most brutal public collapses seen in the space.
THE MATRIX IS ATTACKING JAMES WYNN
HE JUST GOT LIQUIDATED FOR $25 MILLION USD pic.twitter.com/g9o9RmyLIO
— Arkham (@arkham) June 4, 2025
From High Roller to Deep Red in Days
Wynn’s initial rise was nothing short of dramatic, as he quickly made a name for himself by flipping high-leverage perpetual contracts on the decentralized exchange Hyperliquid.
On May 21, he launched a jaw-dropping $830 million long on Bitcoin, adding another $1…
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