Hyperliquid Trader ‘0xa523’ Tops Losses with Over $40M in One Month

Hyperliquid Trader ‘0xa523’ Surpasses James Wynn with $40M Losses in Under a Month

Recent onchain analytics have identified a Hyperliquid trader known as “0xa523” as the platform’s largest losing whale, having lost upwards of $40 million in less than thirty days. This figure eclipses the previous record held by James Wynn, who reported losses totaling $23.6 million last month.

High-Leverage Trading Errors Drive Massive Losses

According to data shared by blockchain analytics firm Lookonchain on X, the bulk of 0xa523’s losses stem from a series of high-leverage miscalculations. The trader sold 886,287 Hyperliquid (HYPE) tokens for a loss of $39.66 million just before the asset experienced a significant rebound, which would have increased the position’s value by nearly $9 million had it been held.

Following this, 0xa523 incurred losses exceeding $35 million on a long Ether (ETH) position that was subsequently flipped to a short, resulting in an additional $614,000 loss. The trader’s current Bitcoin (BTC) short position is also underwater, with an unrealized loss of approximately $1.8 million, according to Hyperdash platform data.

Current Position and Exposure

Data from Hyperdash reveals that 0xa523 is presently managing a $152 million position leveraged at 28.69 times. The wallet’s margin usage stands at 114.74%, with full exposure concentrated in short positions, contributing to ongoing unrealized losses.

James Wynn’s Previous Losses and Market Activity

James Wynn, until recently Hyperliquid’s largest losing whale, posted $23.6 million in losses last month. Wynn briefly withdrew from social media in July after updating his profile to read “broke.” He reemerged with two high-risk positions, including a 40x leveraged Bitcoin long valued at $19.5 million and a 10x leveraged PEPE long exceeding $100,000.

Wynn attracted attention in late May when a $100 million leveraged Bitcoin position was liquidated, followed by a further $25 million loss in early June. He has suggested that large market participants deliberately targeted his liquidation points, although this remains unverified.

Additional Notable Losses: Andrew Tate

Other prominent Hyperliquid traders have also faced significant setbacks. Andrew Tate, former kickboxing champion and controversial figure, incurred more than $726,000 in losses on the platform. His positions included a long on the Trump family-linked World Liberty Financial (WLFI) token, liquidated for $67,500, and a 3x leveraged short on the Kanye West-associated YZY token, which similarly resulted in losses.