TLDR
Crypto trader James Wynn was liquidated for over $100 million on Hyperliquid after a 40x leveraged Bitcoin position failed
The liquidation occurred despite Bitcoin only moving within a narrow 2% price range
Wynn had previously turned $500K into $87 million through high-leverage bets on meme coins
Another trader identified as 0x2258 made $17 million by counter-trading Wynn’s positions
The 24-hour Bitcoin long liquidations exceeded $200 million amid price fluctuations
A crypto trader known as James Wynn has suffered a massive $100 million liquidation on decentralized derivatives platform Hyperliquid after a highly leveraged Bitcoin position unraveled. The liquidation occurred on Thursday despite Bitcoin showing limited price movement, trading at around $106,020 with only a 1.9% decline over 24 hours.
The trader had built a 40x leveraged long position on Bitcoin last week, betting the cryptocurrency’s price would continue to rise. The wallet associated with the trade, beginning with “0x507,” has been tagged as belonging to James Wynn by blockchain analytics firm Arkham Intelligence.
According to on-chain data, Wynn had initially deposited just $3 million in stablecoins on Hyperliquid about two months ago. The platform, built on Arbitrum, has gained popularity for its high-speed trading features and transparent wallet activity.
ARKHAM ALERT: JAMES WYNN HAS JUST BEEN LIQUIDATED FOR $100 MILLION DOLLARS pic.twitter.com/dJNCUmbgZO
— Arkham (@arkham) May 30, 2025
Pseudonymous trader Pentoshi commented on the unusual nature of the liquidation. “Bitcoin price really never changed. It’s been in like a 2% range, and this guy just kept trading poorly, getting chopped to 0,” Pentoshi noted on X.
Pentoshi also suggested that Wynn’s public profile may have contributed to the outcome. “He was super loud on the timeline and yapped a lot, which probably brought a lot of attention he didn’t need. It’s best to trade large positions quietly.”
From Meme Coin Success to Massive Loss
James Wynn had built a reputation as a high-risk leverage trader and meme coin enthusiast. He gained fame in 2023 after correctly predicting the rise of the Pepe meme coin to a $4.2 billion market cap, reportedly earning him over eight figures in profits.
The trader’s success continued as he transformed a modest $500,000 investment into an impressive $87 million through a series of high-leverage bets. His winning trades included a 10x long position on PEPE that generated $23.8 million in unrealized profit, a 10x long on TRUMP yielding $6.83 million in realized gains, and a 5x long on FARTCOIN netting $4.48 million.
On May 22, Wynn’s high-profile $1.14 billion Bitcoin position was up $39 million, showcasing his trading prowess. However, his fortunes quickly reversed over the next week.
On May 24, Wynn doubled down with $1.25 billion in Bitcoin long positions, resulting in a $13.4 million unrealized loss within hours. The next day, he switched to $1 billion in Bitcoin shorts, leading to a $15.87 million loss in just 15 hours.
Counter-Trader Profits
While Wynn faced mounting losses, another trader found success by taking the opposite side of his bets. A trader identified by the address 0x2258 consistently counter-traded Wynn’s positions – shorting when Wynn went long and going long when Wynn shorted.
This strategy proved highly lucrative, with the counter-trader earning an impressive $17 million in just three days. The success of this approach highlights the risks of publicizing large trading positions in the cryptocurrency market.
After the liquidation, the account thought to belong to Wynn responded by posting a still from The Matrix, with the protagonist Neo stopping bullets with his hand. Hours before the liquidation, Wynn had posted on X that “the comeback will be ferocious,” but the market moved against his position.
The comeback will be ferocious pic.twitter.com/6954peGIYX
— James Wynn 
(@JamesWynnReal) May 29, 2025
The volatility in Bitcoin price has increased recently as US courts debate Trump tariffs. According to data from Coinglass, the 24-hour Bitcoin long liquidations surged past $200 million as prices fluctuated.
Wynn has also been involved in promoting a meme coin called Moonpig and its related game, Moonrush. He recently faced accusations of dumping Moonpig tokens, which he denied, stating, “That top wallet was never mine… I don’t usually entertain such FUD, but I haven’t sold a single cent of Moonpig.”
The case serves as a stark reminder of the extreme risks associated with high-leverage trading in cryptocurrency markets, where even small price movements can lead to catastrophic losses.
The post Crypto Trader Loses $100 Million in Leveraged Bitcoin Position on Hyperliquid appeared first on Blockonomi.
