A whale is being ‘hunted down’ for short positioning over 5,400 BTC with 40x leverage

A whale on the hyperliquide has become viral for starting a short position for around $ 450 million bitcoin. There is now an active “manhunt” to stop the attacker on his traces.

According to data On Morurrscan, March 17 at 6:30 am UTC, the whale I have just closed two positions by the average weighted price in time or the Twap for a 208 combined BTC (BTC) at a price of $ 83,392. The total value of the two transactions is equal to more than $ 18 million.

At 4:30 am UTC, the anonymous merchant added $ 7.5 million warranty to their short Bitcoin position to avoid being liquid by the margin on the hyperliquid. The chain data shows that the merchant has accumulated a loss of almost $ 1.1 million in unpaid or NLP losses.

Currently, the current position of the merchant amounts to 5,167 BTC, with a value of around $ 429 million. The uncovered position amounts to a 40x lever effect and has an unrealized profit of $ 4 million. Simultaneously, the merchant also has a long position with a 5x lever effect for 571,715 Melania (Melania) Valued at $ 390,000.

The whale first started its enormous short position in Bitcoin on March 16. At the time, a crypto trader on X with the username @ CBB0FE or CBB detected the suspicious activity of whale and called So that other traders join a public man hunt to liquidate the whale position before being able to harm the ecosystem.

“If you are ready to hunt this guy with a size, place a DM, creating a team now and already is of good size,” said CBB on their job.

In a separate article, CBB told the traders to send them a message with “7 figs size only”, because the combined funds of the team had already exceeded eight digits.

One hour after the team training, they managed to increase the price of the Bitcoin market by $ 83,183 to more than $ 84,690. Consequently, the whale was forced to deposit $ 5 million in USDC (USDC) to increase its margin and avoid liquidation.

However, manhunt has not yet succeeded while the whale continues to escape liquidation by strengthening its position in BTC short at Twap.

The official hyperliquid account also recently commented on the activity of the viral chain bear merchant, describing how the protocol became synonymous with “market” because it drew significant attention from the cryptographic community.

“When a short whale is $ 450 million + BTC and wants a public audience, it is only possible on the hyperliquid,” wrote the account.

Earlier this month, March 12, a whale on March 12 began A long position on the hyperliquid with a 50x lever effect for 175,000 ETH (Ethn) worth $ 340 million. Due to the large amount of liquidation, the hyperliquid was forced to absorb the position at $ 1,915 in order to liquidate it. As a result, Hyperliquid has lost more than $ 4 million.