Trader ‘Maji Da Ge’ Suffers $27.5M Loss on Hyperliquid Platform
A whale wallet linked to ‘Maji Da Ge’ re-entered leveraged ETH trades after prior heavy losses, underscoring ongoing high-risk activity on decentralized exchanges.
ETH
USDC
HYPE
Summary
Onchain Lens reported that a whale wallet, 0xc6f5 and linked to ‘Maji Da Ge’, deposited $2.5 million USDC to HyperLiquid and opened an $18.5 million Ethereum long position with 25x leverage. This move came six hours after closing a previous leveraged ETH trade at a $547,071 loss. Earlier reports indicated ‘Maji’ had cut positions sharply amid cumulative losses of around $26 million, highlighting consistent high-risk behavior despite significant previous setbacks.
Terms & Concepts
- ETH (Ethereum): The native cryptocurrency of the Ethereum blockchain, used for transactions, staking, and running decentralized applications.
- Liquidation Price: The price at which a leveraged position is automatically closed by the exchange to prevent further losses when margin requirements are breached.
- Leverage: The use of borrowed capital in trading to increase the potential return of an investment, which also increases potential risk.