A degenerate gambler who previously deposited hundreds of thousands of dollars into crypto casinos Stake and Roobet was liquidated on HyperLiquid over the weekend, losing $5.5 million after a short sale before Sunday’s rebound with a series of leveraged positions worth $168 million.
Trader Short Sold Bitcoin , and zcash as well as smaller positions in ASTER, BNB and RESOLV.
The bearish trades came after several tokens fell to multi-month lows on Friday as the crypto Fear and Greed Index began to display “extreme fear.”
The losses did not faze the trader, who effectively doubled his position by shorting bitcoin and ether with positions worth $115 million on decentralized exchange GMX shortly after its liquidation.
These positions are still open, with unrealized profit amounting to $1.4 million at the time of writing.
The trader’s use of high leverage and general impulsiveness are reminiscent of James Wynn, a pseudonymous trader who lost $100 million earlier this year after opening a series of long Bitcoin positions at the top.
Bitcoin is currently trading at $94,100 after already giving back most of the gains from Sunday’s rally.
