I just saw the story of Huang Licheng (Maji) and what happened to him is pretty heavy. This guy had a long position in ETH that suffered partial liquidation, losing 1,212 ETH about $2.28M all at once. His account dropped brutally, leaving only $9,289.27 in balance. Can you imagine the feeling?

But the most interesting part is that he didn’t give up. With the remaining $10,000, he opened a new long position with a stop at $1,927. In other words, if this gets liquidated, it ends the $250,000 rotating strategy he’d been trying for months.

Looking at his history, over the last 5 months he made 164 long attempts across various cryptos, with 19 of them just in ETH. He deposited approximately $15.68 million into Hyperliquid, but almost everything turned into losses. It’s the kind of thing that shows how dangerous leveraged trading can be, even for someone who’s committed. Most of his positions simply didn’t work out, and now he’s teetering on the edge with this last chance.