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Aave OG whale liquidated for $11.4M; Machi Big Brother hit with $20M loss


by Florence Muchai
for CryptoPolitan
Aave OG whale liquidated for $11.4M; Machi Big Brother hit with $20M loss

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Bitcoin’s tour down to $80,000 has left a number of investors’ pockets bleeding due to forced liquidations, as several on-chain monitoring firms reported three large accounts, including two Aave whales and well-known trader Jeffrey “Machi Big Brother” Huang, were hit with more than $30 million in combined liquidations within hours.

According to blockchain security firm PeckShield, a liquidation worth $11.41 million struck an Aave borrower identified on-chain as wallet 0x94de…940a. The position collapsed when Bitcoin fell to roughly $80,000 early Friday morning, pushing the account’s loan-to-value ratio past the protocol’s threshold.

Long bets on Bitcoin sends Aave whale deep in losses

On-chain data from the liquidated transaction shows the user had built a large leveraged position on $10.55 million in wrapped Bitcoin, 116.66 wrapped Ether, and over $9.9 million worth of Aave-related tokens. 

When Bitcoin took a turn for the worst, the trader bid goodbye to 56.61 ETH twice, valued at more than $154,000 each, routed to addresses tied to the liquidation contracts. The combination of seized collateral and debt repayment formed the basis of the $11.41 million event that pushed the account into forced closure.

With this event included, the cumulative liquidation total affecting this wallet has now reached $20 million, according to a screenshot of the Hypurrscan dashboard shared by Peckshield.

A second borrower identified as whale 0x3436…2094 faced a liquidation sequence totaling $1.92 million during the same market downturn period. The wallet had been using wrapped Bitcoin and wrapped staked Ether as collateral to borrow USDT and USDC. According to Peckshield’s update, this wallet has now accumulated nearly $5 million in total liquidations.

Machi Big Brother is fully liquidated, losses exceed $20.23 million

American-Taiwanese actor turned crypto trader Jeffrey Huang was also part of today’s massive liquidation event, as Lookonchain reported that his primary trading account was “fully liquidated,” to leave a balance of just $15,538, taking his negative PnL to an excess of $20.23 million.

Machi Big Brother had placed several leverage long bets on Ether on the Hyperliquid exchange before the broader market price correction occurred. Six hours before his account was wiped out, Lookonchain noted that he deposited 115,000 USDC to continue adding to his long. 

Since the October 11 market crash, he has sent 6.96 million USDC to Hyperliquid, nearly all of which has now been lost. Data from Hyperliquid shows Machi’s most recent position was a 25x cross-margin Ether long, totaling $274,400 for 100 ETH-USD contracts. 

The entry price sat near $2,737, with a mark price just above $2,744, giving him a small unrealized gain of $664, but that brief uptick was not enough to offset the losses he had counted in Ether. The second-largest coin by market cap has tanked by more than 3% in the last 24 hours and now trades well below $3,000. 

The downturn also erased the fortunes of the “Anti-CZ Whale,” famous for shorting immediately after Binance founder Changpeng Zhao bought ASTER. Ten days ago, this trader’s total profit on Hyperliquid was close to $100 million, but the market crash annihilated more than $61 million of that amount.

Ether and XRP’s slump dragged the whale’s oversized long positions’ profit down to $38.4 million, then even further to $30.4 million after a final liquidation wiped out more than 60% of his account balance. 

Market slump caused by ETF outflows and US jobs data

Crypto markets saw doom and gloom at the end of Thursday’s trading sessions, where a selloff ensued from US spot Bitcoin ETFs that recorded $903.11 million in net outflows, led by BlackRock’s IBIT with $355.5 million exiting, and Grayscale’s GBTC with $199.35 million withdrawn. 

November’s cumulative outflows have now reached a whopping $3.79 billion, and if the trend continues, Bitcoin could fail to find its way back to $100,000 before the month ends.

Meanwhile, the US economy added 119,000 jobs in September, beating expectations of 50,000 and pushing traders to re-evaluate their crypto market positions.

The smartest crypto minds already read our newsletter. Want in? Join them.

Read the article at CryptoPolitan

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$ 84.33K

-2.70%

$ 2.77K

-1.90%

$ 1.96

-1.26%

$ 0.99921

+0.03%

$ 84.06K

-2.85%

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In This News

Coins

$ 84.33K

-2.70%

$ 2.77K

-1.90%

$ 1.96

-1.26%

$ 0.99921

+0.03%

$ 84.06K

-2.85%

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Aave OG whale liquidated for $11.4M; Machi Big Brother hit with $20M loss


by Florence Muchai
for CryptoPolitan
Aave OG whale liquidated for $11.4M; Machi Big Brother hit with $20M loss

Share:

Bitcoin’s tour down to $80,000 has left a number of investors’ pockets bleeding due to forced liquidations, as several on-chain monitoring firms reported three large accounts, including two Aave whales and well-known trader Jeffrey “Machi Big Brother” Huang, were hit with more than $30 million in combined liquidations within hours.

According to blockchain security firm PeckShield, a liquidation worth $11.41 million struck an Aave borrower identified on-chain as wallet 0x94de…940a. The position collapsed when Bitcoin fell to roughly $80,000 early Friday morning, pushing the account’s loan-to-value ratio past the protocol’s threshold.

Long bets on Bitcoin sends Aave whale deep in losses

On-chain data from the liquidated transaction shows the user had built a large leveraged position on $10.55 million in wrapped Bitcoin, 116.66 wrapped Ether, and over $9.9 million worth of Aave-related tokens. 

When Bitcoin took a turn for the worst, the trader bid goodbye to 56.61 ETH twice, valued at more than $154,000 each, routed to addresses tied to the liquidation contracts. The combination of seized collateral and debt repayment formed the basis of the $11.41 million event that pushed the account into forced closure.

With this event included, the cumulative liquidation total affecting this wallet has now reached $20 million, according to a screenshot of the Hypurrscan dashboard shared by Peckshield.

A second borrower identified as whale 0x3436…2094 faced a liquidation sequence totaling $1.92 million during the same market downturn period. The wallet had been using wrapped Bitcoin and wrapped staked Ether as collateral to borrow USDT and USDC. According to Peckshield’s update, this wallet has now accumulated nearly $5 million in total liquidations.

Machi Big Brother is fully liquidated, losses exceed $20.23 million

American-Taiwanese actor turned crypto trader Jeffrey Huang was also part of today’s massive liquidation event, as Lookonchain reported that his primary trading account was “fully liquidated,” to leave a balance of just $15,538, taking his negative PnL to an excess of $20.23 million.

Machi Big Brother had placed several leverage long bets on Ether on the Hyperliquid exchange before the broader market price correction occurred. Six hours before his account was wiped out, Lookonchain noted that he deposited 115,000 USDC to continue adding to his long. 

Since the October 11 market crash, he has sent 6.96 million USDC to Hyperliquid, nearly all of which has now been lost. Data from Hyperliquid shows Machi’s most recent position was a 25x cross-margin Ether long, totaling $274,400 for 100 ETH-USD contracts. 

The entry price sat near $2,737, with a mark price just above $2,744, giving him a small unrealized gain of $664, but that brief uptick was not enough to offset the losses he had counted in Ether. The second-largest coin by market cap has tanked by more than 3% in the last 24 hours and now trades well below $3,000. 

The downturn also erased the fortunes of the “Anti-CZ Whale,” famous for shorting immediately after Binance founder Changpeng Zhao bought ASTER. Ten days ago, this trader’s total profit on Hyperliquid was close to $100 million, but the market crash annihilated more than $61 million of that amount.

Ether and XRP’s slump dragged the whale’s oversized long positions’ profit down to $38.4 million, then even further to $30.4 million after a final liquidation wiped out more than 60% of his account balance. 

Market slump caused by ETF outflows and US jobs data

Crypto markets saw doom and gloom at the end of Thursday’s trading sessions, where a selloff ensued from US spot Bitcoin ETFs that recorded $903.11 million in net outflows, led by BlackRock’s IBIT with $355.5 million exiting, and Grayscale’s GBTC with $199.35 million withdrawn. 

November’s cumulative outflows have now reached a whopping $3.79 billion, and if the trend continues, Bitcoin could fail to find its way back to $100,000 before the month ends.

Meanwhile, the US economy added 119,000 jobs in September, beating expectations of 50,000 and pushing traders to re-evaluate their crypto market positions.

The smartest crypto minds already read our newsletter. Want in? Join them.

Read the article at CryptoPolitan

In This News

Coins

$ 84.33K

-2.70%

$ 2.77K

-1.90%

$ 1.96

-1.26%

$ 0.99921

+0.03%

$ 84.06K

-2.85%

Share:

In This News

Coins

$ 84.33K

-2.70%

$ 2.77K

-1.90%

$ 1.96

-1.26%

$ 0.99921

+0.03%

$ 84.06K

-2.85%

Share:

Read More

Crypto ETFs update: BTC suffers record $903M outflows; SOL, XRP hold steady

Crypto ETFs update: BTC suffers record $903M outflows; SOL, XRP hold steady

Institutional exit is among the reasons behind today’s continued sell-offs in the dig...
What's Happening with Bitcoin and Altcoins? BTC Hits $82,000, $1 Billion Vanishes! – Top 10 Cryptocurrency Rankings Changed! Here's Everything You Need to Know…

What's Happening with Bitcoin and Altcoins? BTC Hits $82,000, $1 Billion Vanishes! – Top 10 Cryptocurrency Rankings Changed! Here's Everything You Need to Know…

Bitcoin (BTC) price fell to $82,000 for the first time since April. Solana (SOL) fell...