Arkham disclosed that a Hyperunit whale incurred a $250 million loss on an ETH long position at Hyperliquid, the platform’s largest ETH position recorded. The same whale’s combined realized and unrealized losses total approximately $5.7 billion across BTC and ETH holdings. This follows earlier reports of the whale’s high-risk leveraged trading activity, including a previous $123 million ETH long and multiple large-margin positions.