High-profile trader Machi Big Brother liquidated on Hyperliquid, losing $12.2M in value after ETH price declines triggered cascading margin calls.
DeFi & Yields ·
Machi Big Brother's trading account on Hyperliquid collapsed from approximately $12.25 million to $21,800 on October 15 following a cascade of liquidations triggered by Ethereum price declines. Lookonchain documented the account's rapid deterioration in real time, noting that despite efforts to close positions and cut losses, the trader was fully liquidated within hours. Four ETH-USD perpetual futures positions were liquidated in quick succession, including a final 800 ETH position executed at $2,331 per coin.
The account's trajectory illustrates the outsized risk of leveraged trading on decentralized derivatives platforms. The balance had grown from roughly $56,000 to $12.25 million over four months before the decline, suggesting aggressive position sizing throughout the run-up. The liquidations occurred as ETH prices fell, compounding margin pressure and forcing the automated closure of collateralized positions.
This incident fits a broader pattern for the trader. On-chain data shows hundreds of documented liquidations on the account, with cumulative perpetual-futures losses reaching into the tens of millions of dollars historically. Earlier in the year, Machi also faced substantial losses outside derivatives trading, including a significant decline in Friend.tech holdings. What remains unclear is whether the account will be replenished or whether this latest liquidation marks an extended withdrawal from leveraged trading.