More than 1,000 wallets on Hyperliquid were completely liquidated under the recent violent crypto sales, deleting over $ 1.23 billion in trader capital on the platform, according to data from its leaderboard.
In total, 6,300 wallets are now in the red, with 205 losing over $ 1 million each after the data, which was first stained by lookonchain. More than 1,000 accounts experienced losses of at least $ 100,000.
Wipeout came when Crypto Markets rolled from a global risk-off event triggered by US President Donald Trump’s announcement of a 100% additional customs duty on Chinese imports.
The move spooked investors across asset classes and sent cryptocurrency prices tumbling. Bitcoin fell shortly under $ 110,000 and ether fell below $ 3,700, while the wider market measured by Coindesk 20 (CD20) index fell by 15% at one point.
The wide sale led to over $ 19 billion in liquidation over a period of 24 hours, making it the largest single-day liquidation event in crypto history with dollar value. According to Coinglass, the “actual total” of liquidation “is probably much higher” as the leading crypto exchange binance does not report as fast as other platforms.
Leaderboard data reviewed by Coindesk shows the 100 best traders at Hyperliquid, which received $ 1.69 billion collectively.
In comparison, the top 100 losers fell $ 743.5 million, leaving a net profit of $ 951 million concentrated among a handful of very geared short sellers.
The biggest winner was wallet 0x5273 … 065F, earning over $ 700 million from short positions, while the biggest loser, “TheWhitewhale”, fell $ 62.5 million.
Among the victims of flush is crypto personality Jeffrey Huang, known online as Machi Big Brother, who once launched a defamation suit against Zachxbt and lost almost the whole value of his wallet, equivalent to $ 14 million.
“Was funny while it lasted,” he posted at X.
Adding to the uncertainty, the ongoing US government’s shutdown has delayed the release of key economic data. Without official indicators, markets are flying blind at a time when geopolitical risk is rising.
