I just came across an analysis of the trading activity of a well-known blogger on Hyperliquid, and it’s a wild story. The guy lost $800,000 in just a few months. His financial situation is now just pathetic — he has less than a thousand dollars left in his account.

Here’s how it happened: he deposited $727K into a decentralized exchange, then received an additional $75K in referral bonuses. Instead of withdrawing the money, he reinvested it into trading. And that’s it — both amounts were completely liquidated. His position history looks like a textbook example of how not to trade. Over 80 trades in a few months, with a win rate of only 35.5%. In June, he lost $597K, then another $235K in November on a 40x leveraged trade. The only bright spot was in August — he made $16K on a short, but that was just a drop in the bucket.

The funny part is, he’s not the only one like this. On the same platform, other whales lost even more — some $23 million, others $43 million. Analysts are now calling him one of the worst traders in crypto, although people still somehow pay him for advice. This is a good example of why 40x and 50x leverage are Russian roulette. One wrong move in the market, and the entire deposit disappears in seconds.