Liquidated for $2.28M, $5.45M back in 38 minutes: the whale won't let go of ETH
On 8 October Hyperliquid force-closed 8,246 ETH of this wallet's long, at a loss of $2.28M.
Within 38 minutes he wired in $5.45M, and over the next two weeks he bought 15,500 ETH without selling a single one.
Today ether trades where it stood on the day of the liquidation. The whale's long is 7,300 ETH bigger: 48,500 ETH, $8.8M down on paper and 7.1% from a new liquidation line.
- Source: Hyperliquid public records since 26 August 2026: 8 transfers, 15,256 trades, funding, account history; the 8 October event is in our whale feed
- Wallet: 0x77ddcc4b6440b3a32b7802f053105c2fad3ae0e9
- Position snapshot taken on the morning of 22.10.2026; chart data frozen
A new wallet, first trade on 26 August 2026. Large leveraged positions, left untouched for weeks. Money only goes in: 8 transfers, no withdrawals.
Twenty days without a trade
The wallet appears on 26 August. Within five days four transfers come in, $6.38M in total. With that he buys 417 BTC and 14,949 ETH: almost $70M of positions, roughly eleven borrowed dollars for each of his own.
Then he makes no trades for twenty days. On 16 September his all-time result is -$2.3M.
On Saturday 19 September bitcoin is at 81,380 and ether at 2,644. Within a few hours he closes everything, and the all-time result swings from -$2.3M to +$3.5M. So the first bet is won back, with almost $10M in the account.
A bet three times bigger
The next day he comes back, this time in ether only. Over two days he buys 41,000 ETH at an average of 2,694, more than he sold at on Saturday. That is $111M of position on an account of about $10M.
On the evening of 21 September ether reaches 2,809. The account holds $12.8M, the all-time result is +$6.44M. He never gets higher than this.
So in a month $6.38M became $12.8M. He takes nothing out.
Seventeen days
Then silence again. From 21 September to 8 October he makes no trades: he doesn't cut the long, hedge it or add to it.
Meanwhile ether slides. On 23 September he loses $3.5M in a day. On Wednesday 7 October he sends in money for the first time in five weeks, $4.05M, and loses $5.3M the same day.
So by the morning of 8 October the September +$6.44M has turned into -$2.5M. The long is the same 41,228 ETH.
Thursday, four in the afternoon
On 8 October ether falls through the night, from 2,586 to 2,420. His account leverage at that point is almost 43, meaning 43 dollars of position for every dollar of his.
Just after four in the afternoon UTC the exchange itself closes 8,246 ETH of his long at 2,416-2,423. 374 trades in one minute, -$2.28M. The long shrinks from 41,228 to 32,983 ETH.
Within a quarter of an hour the event is in our whale feed: position down 21%. So the exchange took a fifth of the bet. What he does with the rest shows in the next forty minutes.
White line: all-time trading result, $M. Grey dashed: account value, $M. Hyperliquid portfolio points; data frozen 22.10.2026. Hover over any date.
Thirty-eight minutes
36 minutes after the liquidation $3.5M arrives in the account. Two minutes later, another $1.95M.
Three minutes after that he buys 6,962 ETH at 2,428. That is more than the exchange had just sold his ether for, which averaged 2,418.
So within 41 minutes of the forced close he had bought back 84% of the ether taken from him. With new money, and at a higher price.
Cyan line: long size, ETH, at the end of each hour from trade records. Grey: ETH price on Hyperliquid, hourly (right axis). The 8 October liquidation took one minute, so the hourly line already shows the buyback. Data frozen 22.10.2026.
Buying the drop
On Thursday 15 October ether drops to 2,314. His all-time result reaches -$10.9M. He doesn't sell a single ETH.
On Sunday 18 October he wires in another $3.5M and over four days buys 8,231 ETH at daily averages between 2,414 and 2,453.
So since the liquidation he has bought 15,500 ETH and sold none. The long is 48,500 ETH, 7,300 bigger than before the hit.
What he is betting on
Today he holds a 48,500 ETH long, about $118M. Average entry 2,610, ether at 2,429. That is -$8.8M on paper.
The bet is simple: every $100 move in ether is $4.85M to him, one way or the other. To get back to zero ether has to rise 7.5%, to 2,610. If ether falls 7.1%, to 2,255, the exchange starts closing again.
Holding the long costs him about $37K a day in funding, $825K since 20 September. His account leverage is now about 11, against 43 on the day of the liquidation: more room, but a bigger bet.
In total he has wired in $19.38M and taken out nothing. The account holds $10.72M; all-time he is down $8.66M.
Ether today is where it was on 8 October, when the exchange closed 8,246 of his ETH. Since then he has bought almost twice what was taken from him. The outcome sits between two prices: 2,610, where he gets back to zero, and 2,255, where the exchange starts closing again. We will come back to this case when ether nears either of them or he wires in new money.
We'll see the next one before it hits
The radar goes out every morning: which big wallets sit closest to liquidation and what changed overnight. The free part is on Telegram.
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Evidence and limits
Wallet: 0x77ddcc4b6440b3a32b7802f053105c2fad3ae0e9. Every number comes from Hyperliquid public records: position state, account and result history, transfers, trades, funding. Anyone can check them at the address.
Deposits: 8 transfers for $19.38M (August $6.38M, October $13.0M), all through address 0x6b9e7731, which sends money to hundreds of wallets within an hour. It is a service, not a person, so we don't link this whale to other wallets. Withdrawals: zero.
8 October liquidation: 374 trades, each marking this wallet itself as the liquidated user; 8,245.7 ETH, closed result -$2,277,674. The 42.9 leverage comes from our whale feed (that day's event, position cut by 21%).
What we don't know: who is behind the address; whether he hedges this long elsewhere. The exchange returns trades with gaps in dense seconds, so position sizes come from the position-state fields, and the 19 September result is given approximately and checked against the account curve.
Accounting: account $10.72M = $19.38M wired in + all-time result of -$8.66M. Funding since 26 August $1.20M, fees $70K. The 15 October low is rebuilt from the monthly account curve.
A journal of the system's decisions, not investment advice. A reconstruction from public Hyperliquid data; who is behind the address is unknown; no claim is made that anyone held non-public information. Leveraged derivatives trading carries a risk of losing all your funds.