The Cryptocurrency Trader from Hero to Loser: 6.8 Million USD Profit Blown Away by 10 Million USD Loss
Lookonchain, a reputable blockchain analysis platform, has just revealed a shocking story about 'Qwatio' – a trader with major wins interspersed with significant losses on the Hyperliquid platform, leaving the cryptocurrency community astonished.
In just one day, Qwatio made over 6.8 million USD, but in the following 3 days, he lost nearly 10 million USD – a thrilling journey akin to an action movie.
Profit of 6.8 Million USD in Exchange for Total Account Liquidation
Lookonchain revealed that Qwatio shocked everyone by earning over 6.8 million USD in just one trading day. He went all-in on Bitcoin and Ethereum with 50x leverage just before former President Trump signed an executive order that shook the market.
After taking profits, Qwatio withdrew all margin but simultaneously left 160,000 ETH (worth 306 million USD) to be liquidated, causing significant losses for Hyperliquid's liquidity provider (HLP).
Prior to this action, Hyperliquid reduced the maximum leverage on ETH from 50x to 25x to mitigate similar risks in the future.
Clones, Chaos, and the Whale Hunt
Not long after, many traders began to emulate Qwatio's style. One of them used a similar strategy to manipulate the JELLY Token, causing an additional 12 million USD loss for HLP.
Qwatio became the target of the 'whales' led by a user with the nickname 'CBB'. As Bitcoin surged by 2.5%, he quickly increased margin to protect his position, demonstrating sharp risk management skills.
Identity Revealed Then Hidden Again
Qwatio publicly revealed his identity by confirming a wallet linked to the MELANIA Token, even naming the account after this Token. However, when public attention increased, he deleted the post and changed the wallet name to 'falllling', raising questions about transparency.
Nevertheless, according to Lookonchain, the total profit from Qwatio's wallet still exceeded 10 million USD.
Liquidation Up to 6 Times in 3 Days, Losses of Approximately 10 Million USD
Ongoing tracking revealed that Qwatio was liquidated a total of 6 times within 3 days with total losses of nearly 10 million USD. The heaviest loss occurred at 3.37 million USD on the ETHUSDT pair at Binance.
However, he did not give up. Just 2 hours earlier, Qwatio continued to deposit 4.5 million USDC and once again bet on buying Bitcoin and Ethereum.
Conclusion:
Qwatio's journey is a testament to both the attractive power and the enormous risks of financial leverage in cryptocurrency trading. The trades with continuous liquidations reflect the complexity of the market, while also warning about the critically important risk management that every trader needs to be aware of.
For newcomers, the Qwatio story is a vivid lesson about the 'hidden' profits alongside the peril of bankruptcy, emphasizing the importance of smart strategy and capital management in the volatile cryptocurrency world.
Source: https://tintucbitcoin.com/trader-crypto-tu-loi-lon-den-lo-lon/
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