A trader known as the Hyperunit whale has recorded a loss of $250 million after closing a long position on Ethereum. According to Arkham, the balance of his account on Hyperliquid has dwindled to just $53.

HYPERLIQUIDATED: HYPERUNIT WHALE [GARRETT JIN]

The Hyperunit whale, linked to Garrett Jin, has just sold HIS ENTIRE ETH POSITION, realizing a COMPLETE loss of $250 MILLION.

He has $53 left in his Hyperliquid account. pic.twitter.com/0qZBOoeqoI

— Arkham (@arkham) January 31, 2026

The investor exited the trade amid a market downturn. Over the past day, the price of the second-largest cryptocurrency has dropped by approximately 10%, falling to $2,194.

Source: CoinGecko.

On January 29, analysts highlighted the whale's precarious situation, noting that his unrealized losses exceeded $130 million.

HE IS LONG $750M: THE HYPERUNIT WHALE IS BUYING BACK ETH

After offloading almost $100M in ETH from his ETH position, the Hyperunit whale linked to Garrett Jin is buying back ETH — and has purchased $60.54M of ETH already.

The Hyperunit Whale was long 223.34K ETH last week, and… pic.twitter.com/G7KiTwkk0j

— Arkham (@arkham) January 29, 2026

The Hyperunit whale gained significant attention in October 2025, having earned $192 million from short positions on Bitcoin and Ethereum just minutes before U.S. President Donald Trump announced 100% tariffs on Chinese imports. The timing raised suspicions of insider trading, but no evidence of wrongdoing was found.

On-chain analyst Eye linked the wallet address to former BitForex CEO Garrett Jin, who denied personal ownership of the assets, claiming he manages client capital.

After his October success, the trader changed tactics and began taking long positions. By mid-January, he had accumulated a long position in Ethereum worth over $730 million, with his total market exposure exceeding $900 million.

THE BIG LONG: THE $10B HYPERUNIT WHALE JUST BOUGHT EVEN MORE ETH

The $10B Hyperunit Whale, linked to Garrett Jin, just longed another $66.2M ETH. His massive ETH Long is now worth $733.3M, and in total he is long over $900 MILLION worth of ETH, SOL and BTC.

Will he be the… pic.twitter.com/i6O3GyqHVC

— Arkham (@arkham) January 16, 2026

The liquidation on Hyperliquid has not wiped out the whale entirely; according to Arkham, he still holds assets worth $2.5 billion in other wallets.

Source: Arkham.

However, Lookonchain's statistics on top players on the platform paint a grim picture. All eight traders who previously made substantial profits ultimately lost their deposits.

All 8 traders once made huge profits on Hyperliquid, but every one of them ended up getting wiped out.

Stay away from high leverage. pic.twitter.com/g0Npj0UI2i

— Lookonchain (@lookonchain) February 1, 2026

Analysts have described this as a clear example of the risks associated with high leverage trading.

It is worth noting that in December 2025, Hyperliquid's founder, under the pseudonym Iliensinc, denied rumors of insider trading.