Hyperliquid Whale Loses $250 Million on Failed Ethereum Long

A prominent trader, known as the Hyperunit whale, has incurred a staggering loss of $250 million after liquidating a long position in Ethereum. Linked to Garrett Jin, the trader's account balance on Hyperliquid has dropped to a mere $53 following this exit.

The decision to sell came amidst a significant market downturn, with Ethereum's price declining by about 10% to $2,194 over the past day. Just days prior, on January 29, analysts had already expressed concern over Jin's position, noting that his unrealized losses had surpassed $130 million.

Earlier in January, the Hyperunit whale had amassed a long position in Ethereum exceeding $730 million, with total market exposure exceeding $900 million. His trading strategy shifted dramatically after a successful October 2025, when he gained $192 million by shorting Bitcoin and Ethereum shortly before tariffs were imposed on Chinese imports. Although his actions raised questions about insider trading, no evidence was found to support these claims.

Despite the recent losses, the Hyperunit whale still reportedly holds approximately $2.5 billion in assets across different wallets. However, the situation serves as a cautionary tale about the dangers of high-leverage trading; statistics indicate that all eight other traders who once profited significantly on Hyperliquid have also seen their accounts wiped out.

Industry analysts have noted this incident underscores the inherent risks of leveraging in volatile markets.