Huang Licheng (@machibigbrother) was liquidated eight times over six hours on Hyperliquid, a decentralized perpetuals exchange, leaving all open positions closed and just $1.50 in his account. Lookonchain reported the losses, which were cited by PANews on Oct. 30. The episode illustrates the risks of high leverage on on-chain derivatives platforms during volatile market conditions. Liquidation occurs when a platform forcibly closes leveraged positions after losses breach required collateral levels.