A high-profile trader known as James Wynn has suffered massive losses totaling nearly $100 million after Bitcoin’s price briefly fell below $105,000 on May 30. The incident occurred on the Hyperliquid platform, where Wynn had placed large, high-leverage long positions on BTC.
949 BTC Liquidated After Sharp Price Drop
Onchain data reveals that Wynn’s two major long positions were forcibly liquidated:
- 527.29 BTC (worth $55.3 million) was liquidated as Bitcoin dipped to $104,950
- 421.8 BTC (worth $43.9 million) was liquidated as BTC dropped to $104,150
In total, 949 BTC positions were closed, equating to losses of $99.3 million.
A day earlier, on May 29, another 94 BTC position worth $10 million was also liquidated at $106,330.
High Leverage, High Risk
According to blockchain analytics platforms Arkham Intelligence and Lookonchain, Wynn used 40x leverage, which drastically increased the volatility and liquidation risk of his trades.
Wynn had scaled his long position to $1.25 billion in size, betting on Bitcoin’s price to rise from $107,993.
As of now, he is sitting on an unrealized loss of $3.4 million with the remaining position.
The liquidations occurred amid broader market uncertainty, including renewed tariff discussions from U.S. President Donald Trump, which triggered a decline in risk-on assets like crypto.
Trader Reacts With Humor – And a Warning
Wynn responded on X (formerly Twitter) with a cryptic meme from The Matrix, hinting at the chaotic and risky nature of his trading style.
Earlier, he openly described himself as an “extreme degenerate”, admitting:
“I do not follow proper risk management… I’m effectively gambling.”
He strongly advised others not to copy his trading behavior, highlighting the dangers of using excessive leverage in a volatile market.
Takeaway: Lessons from a Crypto High-Roller
James Wynn’s case is a dramatic example of the risks tied to high-leverage crypto trading. Despite previous success in memecoins like Pepe (PEPE), Wynn’s latest trades demonstrate how fast fortunes can vanish.
Traders are reminded to follow sound risk management practices and avoid gambling with large positions.