Crypto Trader Goes from Hero to Zero: $6.8M Win Followed by $10M Crash

The post Crypto Trader Goes from Hero to Zero: $6.8M Win Followed by $10M Crash appeared first on Coinpedia Fintech News

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Lookonchain, a well-known blockchain analytics platform, has revealed the jaw-dropping story of “Qwatio,” a trader whose massive wins and brutal losses on Hyperliquid have left the crypto world stunned. 

From making over $6.8 million in one day to losing nearly $10 million within just 3 days, Qwatio’s journey is nothing short of a thriller.

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$6.8M Profit Turned Into Liquidation

According to Lookonchain, it all started when Qwatio made headlines by earning over $6.8 million in a single day. He went all-in on Bitcoin and Ethereum using 50x leverage, right before Trump signed an executive order that shook the crypto market. 

Right after securing his profits, Qwatio pulled out his margin and allowed 160,000 ETH ($306M) to be liquidated. This caused huge losses for Hyperliquid’s Liquidity Provider (HLP). 

In response, Hyperliquid immediately reduced the max leverage on ETH from 50x to 25x, hoping to stop similar risks in the future.

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Copycats, Chaos, and Whale Hunts

Soon after, others began copying Qwatio’s trading style. Someone used a similar strategy to manipulate the JELLY token, causing another $12 million in losses for HLP. 

Qwatio himself became a target. A team of whales, led by user “CBB,” started hunting his trades. At one point, Bitcoin spiked 2.5%, but Qwatio defended his trade by quickly adding more margin.

Identity Revealed, Then Hidden

He revealed his identity by confirming a wallet linked to the MELANIA token, naming his account after it. But after some attention, he deleted the post and changed the wallet’s name to “falling.” 

Despite the slip, Lookonchain reported that its wallets still showed over $10 million in total profit.

6 Time Liquidation In 3Day 

Further Lookonchain also tracked his new wallet, where Qwatio got liquidated 6 times in 3 days, losing close to $10 million. The biggest loss came from a $3.37 million ETHUSDT trade on Binance.

Still, he’s not giving up. Just 2 hours ago, he deposited $4.5 million USDC and is once again going long on BTC and ETH.

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