ZEC selloff leaves Auros and trader loracle.hl with sizable long losses

ZEC fell sharply on June 5 amid debate over the feasibility of "infinite issuance," according to Hyperinsight, briefly forcing Hyperliquid market maker Auros Global to absorb a large long position that at one point showed an $8.5 million unrealized loss and later stood at about $10.5 million. Hyperinsight also said trader loracle.hl, also referred to as Loracle, kept averaging down into ZEC during the plunge, buying as low as around $250 and lowering the entry price from above $500 to $354; the position grew to 34,800 ZEC worth about $10.8 million and was showing a $1.6 million floating loss at press time. In related positioning, loracle.hl had earlier closed a HYPE short worth more than $110 million for a $46.46 million realized loss, then reversed into leveraged longs across HYPE, ZEC, WLD and other tokens. PANews, citing Onchain Lens, later reported combined unrealized losses of $6.65 million on Loracle’s open longs, including more than $3.2 million on a 10x ZEC long and $1.567 million on a 2x HYPE long.