The $100 Million Liquidation Incident of James Wynn: Exposing the 'Largest Scam' in Crypto History! James Wynn bet on Bitcoin at the Hyperliquid exchange, leveraging a $20 million principal to create a $1.25 billion position with 40x leverage. On May 23, Trump announced a 50% tariff on the EU, causing Bitcoin to plummet over 6%, falling below $105,000. The market shook, and Wynn's position collapsed instantly, with 949 Bitcoins forcibly liquidated, resulting in a $100 million loss. On-chain data clearly shows that two liquidations occurred when Bitcoin dropped to $104,950 and $104,150, amounting to $55.3 million and $43.9 million respectively, totaling nearly $100 million.
After losing money, Wynn laughed it off, claiming to be enjoying the 'perpetual casino', and immediately bet another $1 million on long positions in Bitcoin and Pepe, continuing to charge forward with 40x leverage. He revealed that this was not the first time he played this way: he once turned $4 million into $100 million in profits using leverage, only to lose $13 million afterward. He stated, 'Either win big or lose everything. But I'm still happy with my nothing.' However, reality did not play along. On June 1, he was forced to liquidate all leveraged positions, losing another $2.81 million, bringing total losses to $17.72 million, and his account's stablecoins were cleared out.
This drama is dubbed the 'largest scam', not just a simple liquidation. Blockchain investigator ZachXBT accused Wynn of warning fans against scams while promoting fraudulent tokens himself. User Dylan provided evidence revealing that Wynn demanded a 2% share from the token team (worth $57,000), promising to pump it to a $20 million market cap, only to sell off for $68,000 immediately after calling it out, then blocked the project team and disappeared. The Moonpig token, which he heavily promoted, also plummeted by 80% after the liquidation, raising suspicions of a pump-and-dump scheme.
Just after the liquidation farce, Wynn accused multiple exchanges of unjustly freezing his accounts, claiming he was targeted for 'supporting decentralization and opposing corruption', and threatened to hire a lawyer to fight back. Meanwhile, the crypto community watched with cold eyes: some made $17 million by shorting him; many others believe he is just a gambler and a scammer, with the leveraged frenzy and token farce being a continuous series of the same 'scam'.
There are no real stories, nor perfect wins and losses; this game is ultimately a conspiracy, a secret that you and I cannot openly discuss.㊙️㊙️㊙️㊙️