Hyperliquid Whale Loses $250 Million on Failed Ethereum Long, Leaving Just $53

Trader lost $250M on Ethereum long, leaving $53 in Hyperliquid account.

A trader known by the pseudonym 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 $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 by market capitalization fell by approximately 10%, dropping to $2194.

On January 29, analysts pointed to the whale’s critical situation: his unrealized loss 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

Hyperunit whale gained widespread attention in October 2025. He 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 fortuitous timing sparked 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. Jin denied personal ownership of the assets, stating that he manages client funds.

Following his October success, the trader shifted strategy and began going long. By mid-January, he had accumulated a long position in Ether 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 did not bankrupt the whale: according to Arkham, he still holds $2.5 billion in assets across other wallets.

However, Lookonchain’s statistics on the platform’s top players appear grim. All eight traders who once made huge profits eventually 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 called this a stark example of the risks associated with high leverage.

In December 2025, Hyperliquid co-founder known as Iliensinc denied rumors of insider trading.