Millions Lost as Trader Faces Eight Liquidations in a Single Week

A trader, identified as "qwatio" on social media, has been under scrutiny by on-chain analytics firm Lookonchain, after facing eight partial liquidations in a week, which resulted in substantial losses. The trader's high-risk, high-reward strategy, which included 50x leveraged positions in ETH, initially brought in significant profits, but ultimately led to over 160,000 ETH being liquidated. This forced the liquidity provider, HLP, to absorb the losses and prompted Hyperliquid to lower the maximum leverage for ETH to x25.

Despite the setback, the trader continued to take risky positions and even gained a profit of $4.4M from a short position on Bitcoin. However, recent liquidations have resulted in approximately $10M in losses. The scenario is reminiscent of high-stakes trader James Wynn, who also faced substantial losses despite an initial profit.