Cryptocurrency markets have taught us another hard lesson about volatility. One of HyperLiquid’s most high-profile traders, known as the “anti-CZ whale,” saw his profits collapse. It generated over $61 million in revenue in just 10 days. A trader who built a reputation for short selling shortly after CZ acquired ASTER. He is currently taking a huge hit from his aggressive long positions in ETH and XRP.
Profit decreased from $100 million to $38 million
According to data shared by Lookonchain, just 10 days ago, anti-CZ Whale’s realized and unrealized profits on HyperLiquid were close to $100 million. His accomplishments have made him a prominent figure among perpetual futures traders. His timing around high-profile market events often attracted widespread attention.
In just 10 days, more than $61 million in profits disappeared.
This anti-CZ whale became known for short selling shortly after CZ acquired $ASTER.
10 days ago, his total profit on #Hyperliquid was almost $100 million.
But when the market crashed, his large $ETH and $XRP longs dragged him down hard — his… pic.twitter.com/xPP6TfZRgM
— Lookonchain (@lookonchain) November 21, 2025
However, the recent market downturn has completely ruined these winnings. As ETH and XRP came under pressure. The anti-CZ whale’s outsized long position reduced his total profit to $38.4 million. This is a staggering drop of approximately $61 million in less than two weeks. The speed of drawdowns highlights how quickly leverage can erase even an impressive track record when circumstances change.
High leverage, big risk
The on-chain dashboard shows the full extent of his exposure. One of his accounts, 0xbadb…9ee6, currently holds a long position of $27.44 million with a leverage ratio of 1.56x. His unrealized loss is -$3.09 million. However, the account still has more than $8.9 million in withdrawable margin.
The second account, 0x9eec…daAb, is in a much more dangerous position. It has a huge long exposure of $255.15 million with leverage of 12.22x. The margin usage rate is an amazing 95.40%. There is little buffer left against further decline. This account has an unrealized loss of -$38.53 million. This is the main cause of drawdown. Both accounts are fully long, meaning they cannot hedge against sudden market declines. The second account has such a thin profit. Further volatility could cause rapid liquidations.
Market downturn hits aggressive traders
The broad market downturn over the past week has left high-leverage players struggling across major platforms. Both ETH and XRP fell sharply as investors rotated capital and risk sentiment weakened. During this period, Anti-CZ Whale, which held an oversized long, was directly in the line of fire.
His situation also illustrates the growing trend in Hyperliquid. Influence traders make large directional bets that amplify their wins and losses. These plays attract followers and engagement. Traders are also exposed to dramatic fluctuations that can wipe out profits faster than they are earned.
Reputation tested by volatility
The anti-CZ whale became a social media legend for precisely timing his shorts after CZ’s ASTER acquisition. However, this recent reversal highlights just how unpredictable the crypto market is. Even the most experienced players. It remains to be seen whether he doubles down, reduces his exposure, or withdraws altogether. But for now, the market is sounding a clear warning. In crypto leverage trading, fortunes can change in an instant.