Two Hyperliquid wallets linked by blockchain intelligence firms to London investment firm Abraxas Capital Management remained open with about $1.58 billion in combined net short exposure as of Oct. 6, 2026, at 2:55 p.m. Eastern time. Bitcoin and Ether positions accounted for approximately $948 million of that total. The wallets held about 189,400 ETH and 5,120 BTC, producing paper losses of roughly $114.5 million. Bitcoin.com News inspected the addresses after the X account Hyperbot flagged them on Monday; the positions appear to form parts of the same short book. On-chain records show the wallets also hold substantial assets and have logged deposits worth several million dollars, providing capacity to absorb losses. Besides Bitcoin and Ether, the wallets held short positions in SOL, HYPE, ENA, XRP, SUI and PUMP. Arkham Intelligence labels the addresses as linked to Heka Funds.