I just came across a story about Andrew Tate and his trading on Hyperliquid. The guy lost $800k and is now considered one of the worst traders in crypto. An interesting story about how you can wipe out your entire deposit in just a few months.

Initially, he deposited $727k, then tried to recover through referrals, earning another $75k, but still lost everything. Less than $1,000 remained in his account. Analysts reviewed his trades — it turns out his win rate was only 35%. He opened positions with 40x leverage on Bitcoin, traded with World Liberty Financial, and all of these closed at a loss. In June, he lost $597k, and in November, another $235k on a single trade.

The craziest part is that his situation is an example of how high leverage can completely wipe out an account. Even one successful short on YZY for $16k didn’t save the situation. Over 80 trades in just a few months, and the result was total liquidation.

He’s not the only one. James Winn lost $23 million, Qwatio wiped out $25.8 million after a market rally, and 0xa523 lost $43.4 million. This shows how dangerous trading derivatives with leverage on decentralized exchanges can be. Even whales are not immune to volatility.