A crypto whale has suffered a massive $306.85 million loss after a high-risk bet on Ethereum (ETH) turned against them, resulting in a full liquidation. The trader had leveraged 50x on ETH, hoping for price appreciation, but the market shifted in the opposite direction.
According to a report by Lookonchain on X, the whale began trading ETH on March 10, 2025, selling 947 ETH for $1.95 million in USDC, which was then used to long more ETH on the Hyperliquid platform. Over the next few days, the whale continued to accumulate ETH, eventually reaching a position of 73,076 ETH worth $138.75 million.
The trader’s risky strategy escalated further when they moved their BTC trades into ETH, boosting their total position to 140,458 ETH, valued at $269.8 million. Their entry price was $1,900.28, with a liquidation level set at $1,805. Initially, the whale saw a $3.65 million profit, but as ETH’s price began to fall, it dropped below the liquidation threshold. Within minutes, the entire position was wiped out.
“This whale just got liquidated for 160,234 ETH ($306.85M),” Lookonchain confirmed.
This liquidation ranks among the largest in crypto history, highlighting the risks of trading with high leverage. Even minor price drops can lead to catastrophic losses when leverage is involved. The incident has sparked widespread discussion in the crypto community, with one user commenting, “High leverage, high consequences. Whale’s $300M+ ETH position just got wiped at $1,877. This is why trading with leverage is basically gambling – one wrong move and it’s game over.”
As speculations grow about whether the whale had inside information or was simply unlucky, one thing remains clear: in the volatile world of cryptocurrency, fortunes can be made or lost in the blink of an eye.
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