Gambler Wallet Faces Double Liquidation After Risky ETH Short Migration from Hyperliquid to GMX
A high-stakes trader known as “Gambler” has just suffered back-to-back liquidations after attempting to short #Ethereum across two decentralized perpetual exchanges.
On-chain data shows that wallet 0x916Ea2A9... closed a large $BTC short on Hyperliquid totaling over $35 million in exposure. After locking in profits, the wallet withdrew $474,970.19 USDC to Arbitrum — a move that seemed like capital rotation for another trade.
Minutes later, the same wallet opened a massive $20.28 million $ETH short on GMX, entering at $3,860.46. But with Ethereum holding bullish momentum and showing no signs of weakness, the trade was swiftly liquidated. GMX logs show a realized loss of $314,194.98, wiping out nearly all of the transferred capital.
This loss marked a 107.97% cumulative PnL hit, confirming full liquidation with no recovery. The failed strategy shows the dangers of oversized leverage and jumping between platforms without adapting to price structure or volatility.
What’s more alarming is that this trader repeated the same setup without changing direction, closing a BTC short, then opening a fresh ETH short despite ongoing strength across majors. Ethereum had already seen strong on-chain volume and network activity increases this week, with price trending up.
The wallet's execution reflects poor timing, overconfidence, and misreading of broader market dynamics. With altcoin season speculation growing and Bitcoin dominance in flux, directional bias without structural confirmation has once again proven costly.
Whether Gambler returns for another shot or stays sidelined is yet to be seen, but this cycle of liquidation across multiple chains sends a warning to aggressive traders:
👉High leverage without clear momentum = exit liquidity.👈
#CryptoIn401(k) #Notcoin #USFedBTCReserve #BuiltonSolayer
On-chain data shows that wallet 0x916Ea2A9... closed a large $BTC short on Hyperliquid totaling over $35 million in exposure. After locking in profits, the wallet withdrew $474,970.19 USDC to Arbitrum — a move that seemed like capital rotation for another trade.
Minutes later, the same wallet opened a massive $20.28 million $ETH short on GMX, entering at $3,860.46. But with Ethereum holding bullish momentum and showing no signs of weakness, the trade was swiftly liquidated. GMX logs show a realized loss of $314,194.98, wiping out nearly all of the transferred capital.
This loss marked a 107.97% cumulative PnL hit, confirming full liquidation with no recovery. The failed strategy shows the dangers of oversized leverage and jumping between platforms without adapting to price structure or volatility.
What’s more alarming is that this trader repeated the same setup without changing direction, closing a BTC short, then opening a fresh ETH short despite ongoing strength across majors. Ethereum had already seen strong on-chain volume and network activity increases this week, with price trending up.
The wallet's execution reflects poor timing, overconfidence, and misreading of broader market dynamics. With altcoin season speculation growing and Bitcoin dominance in flux, directional bias without structural confirmation has once again proven costly.
Whether Gambler returns for another shot or stays sidelined is yet to be seen, but this cycle of liquidation across multiple chains sends a warning to aggressive traders:
👉High leverage without clear momentum = exit liquidity.👈
#CryptoIn401(k) #Notcoin #USFedBTCReserve #BuiltonSolayer
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
ETH
4,040.4
+5.87%