Hyperunit whale exits Ether position with $250 million loss, highlighting leverage risks after volatile crypto market liquidation wave.
The crypto trader known as the Hyperunit whale has suffered a dramatic reversal after exiting a massive Ether position. The trader, who was associated with Garrett Jin, suffered a total loss of almost $250 million. As a result, the account balance in the Hyperliquid has been reduced to only $53.
Hyperunit Whale’s Rise and Sudden Collapse Shock Markets
The Hyperunit whale became widely known in the period of October 2025 in the scenario of extreme volatility in the crypto market. At the time, the trader allegedly made $200 million by shorting Bitcoin and Ether. Those trades came right before President Trump’s tariff announcement sent the markets on a sharp crash.
Following that success, the trader changed strategy and made an aggressive long position. By the middle of January 2026, Arkham Intelligence data revealed the Ether long position was at more than $730 million. Meanwhile, combined exposure across Ether, Solana and Bitcoin topped $900 million.
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However, market conditions turned against the leveraged position quickly. In late January 2026, the price of Ether dropped about 10% in 24 hours. As a result, Ether plunged towards $2,400, putting more liquidation pressure on leveraged trading platforms.
As the volatility increased, the long exposure of the Hyperunit whale became increasingly fragile. Data later showed that the trader fully exited the Ether position on Hyperliquid. Therefore, the whole position was closed at a loss of nearly $250 million.
On-chain analysis associates the wallet with Garrett Jin by using ENS domains, such as garrettjin.eth. Jin has admitted that they know the trader behind the wallet activity. However, he earlier claimed the money is for clients and not for himself personally.
The liquidation wiped out months of gains accumulated from the previous successful trades. As a result, the account, which was once very profitable, only contains $53.
Broader Holdings Remain Despite Leveraged Trade Wipeout
Despite that loss on this particular trade, Arkham data shows that the broader entity remains quite well endowed in its wider investments. According to the dashboard, about $2.7 billion worth of cryptocurrency is still held in other wallets.
Analysts say that leveraged positions increase the gain but also the losses during volatile conditions. Consequently, sharp price movements can easily flood out even experienced traders. This event highlights the risks of concentrated exposure in the case of sudden market downturn.
The Hyperunit whale episode has brought discussion about leverage management back into the spotlight within the crypto markets. Similar wipeouts have occurred in previous liquidation cascades.
Hyperliquid, like other derivatives platforms, saw an increase in liquidation activity during the downturn. As the price of Ether declined, margin requirements were quickly tightened.
Market sentiment is cautious after the incident. Traders are keenly observing the liquidity conditions and funding rates in major assets. Meanwhile, volatility expectations have been high due to continued macroeconomic uncertainty.
The collapse also underscores the speed with which fortunes can turn in digital asset markets. Earlier success did not ensure later losses under changing circumstances. As a result, the episode becomes a cautionary example for the use of aggressive trading strategies.
Ultimately, the Hyperunit whale wipeout underscores the risks inherent in high-leverage crypto trading environments.
Source: https://www.livebitcoinnews.com/hyperunit-whale-wiped-out-as-250m-ether-bet-collapses-on-hyperliquid/
