A crypto trader widely known as the “Hyperunit whale” has suffered one of the largest single-position losses of the year after closing an Ethereum long at a steep loss, according to on-chain data shared by Arkham.
Key Takeaways
The “Hyperunit whale” closed his entire Ethereum long at an estimated $250 million loss as ETH slid to around $2,400 during a broad crypto market sell-off.
The loss followed a dramatic reversal from last year’s highly profitable short trades, highlighting how quickly leverage can turn against traders in volatile markets.
The whale, linked by Arkham to Garrett Jin, liquidated his entire ETH position after Ethereum plunged sharply alongside the broader crypto market.
The exit locked in an estimated loss of around $250 million, leaving just $53 remaining in the trader’s Hyperliquid account. Ethereum fell to roughly $2,400 at the time of writing, down nearly 20% over the past week as risk assets sold off across the board.
From perfectly timed shorts to aggressive longs
The collapse marks a dramatic reversal of fortune for the trader, who rose to notoriety in October after executing a perfectly timed bearish bet on the market. Just minutes before President Donald Trump announced plans for sweeping 100% tariffs on Chinese imports, the Hyperunit whale opened massive short positions in Bitcoin and Ethereum.
HYPERLIQUIDATED: HYPERUNIT WHALE [GARRETT JIN]
The Hyperunit whale, linked to Garrett Jin, has just sold HIS ENTIRE ETH POSITION, realizing a COMPLETE loss of $250 MILLION.
He has $53 left in his Hyperliquid account. pic.twitter.com/0qZBOoeqoI
— Arkham (@arkham) January 31, 2026
Those trades, totaling more than $1 billion in notional value, paid off handsomely as markets plunged, triggering an estimated $18 billion in liquidations across the crypto sector.
The whale reportedly walked away with profits of roughly $200 million. While the timing sparked speculation about insider knowledge, no evidence of improper conduct has ever emerged.
Leverage turns against the whale as ETH slides
After the October windfall, the trader flipped decisively bullish. By mid-January, Arkham data showed the whale had built an Ethereum long worth more than $730 million, with total exposure across ETH, Solana, and Bitcoin exceeding $900 million. The scale of the bet left little room for error.
That error arrived as the crypto market entered a sharp correction. Ethereum’s rapid decline, combined with elevated leverage, forced the whale to fully exit the position, crystallizing losses that erased a significant portion of earlier gains. The episode highlights how quickly conditions can shift in crypto markets, where even historically successful trades offer little protection once momentum turns and volatility accelerates.
