One of
@HyperliquidX biggest traders is now sitting on losses exceeding $20 million.
Loracle.hl, known for generating over $35 million in all-time profit, made an aggressive bet against
$HYPE after calling the token massively overvalued.
The trade started around a $43 average entry.
Then the position kept growing.
Eventually, the short reached roughly 1.8 million HYPE tokens with total exposure climbing above $100 million.
But instead of falling, HYPE ripped from the low $40s to around $60 within days.
And the position stayed open.
He later added large
#Bitcoin shorts as a hedge, pushing total exposure close to $140 million while reportedly operating with an account value around $23.5 million.
At one point, the estimated liquidation level sat near $90 HYPE.
Then another twist appeared:
Nearly 893,000 HYPE tokens worth over $50 million were unstaked from a wallet linked to the position.
Now traders are asking the same question:
Where did the tokens go?
Despite the massive drawdown and growing attention across crypto, the position still hasn’t been liquidated.
At least not yet.