A whale is being ‘hunted down’ for short positioning over 5,400 BTC with 40x leverage

According to Hypurrscan, the price was $83,392. The total value of both transactions is more than $18 million.

At 4:30 a.m. UTC, an unidentified trader added $7.5 million in collateral to his short Bitcoin position to avoid margin liquidation on Hyperliquid. Chain data shows that the trader lost about $1.1 million due to unrealized gains and losses, or PNL.

The trader’s current net worth is currently $390,000. CBB said in his post, “If you’re ready to hunt down this big-sized guy, DM me, form a team now and get some good size already.”

In a separate post, CBB asked traders to message him with “only 7 digits,” as the team’s combined funds had already surpassed eight digits. The team was formed an hour later to increase their margin and avoid liquidation.

However, so far this quest has not been successful, as whales continue to avoid liquidation by increasing their positions to short BTC via TWAP.

The official Hyperliquid account also commented on the recent online activity of the viral bear trader, highlighting how the protocol has become synonymous with “the market” as it has garnered significant attention from the crypto community.

“When a whale shorts $450M+ BTC and wants to get public exposure, it can only happen on Hyperliquid,” the account wrote.

Earlier this month, $340 million. Due to the large liquidation amount, Hyperliquid was forced to liquidate the position at $1915. As a result, Hyperliquid lost more than $4 million.