Famous trader James Wynn faced 12 liquidations of his positions over the last 12 hours. In the past two months, the number of his liquidations has reached 45, resulting in nearly complete loss of funds in his account.
This is reported by Business • Media
Increased Risks and Strategic Mistakes
Experts note that during this period, Wynn had only one profitable position, but he did not realize the profit and continued to increase the trade volume. As a result, this position was liquidated, leaving the trader with only about $6010 in his account.
“In two months, he lost nearly all his funds after 45 liquidations.”
Significant Losses for Other Traders
Another example of substantial losses involved an anonymous trader highlighted by EmberCN analysts. Three days ago, this trader transferred 7 million USDC to the Hyperliquid exchange to open short positions on Bitcoin. Despite having set stop losses, he lost over $6.44 million. At its peak, the position size reached 2222 BTC (over $226 million). He currently has an open position of 300 BTC ($31.87 million) with a leverage of 40x, and the current losses are estimated at $1.35 million. The liquidation level is set at $106,765.
It was previously reported that traders lost tens of millions of dollars during futures trading, indicating high risks in the derivatives market.