From "Profit of $44 Million" to "Loss of $35.4 Million": The Leverage Disaster Behind Machi Big Brother's $9.8 Billion Trading Volume In the crypto market, massive trading volume never guarantees ultimate victory. On-chain data shows that the famous whale "Machi Big Brother" has accumulated a trading volume of $9.801 billion on Hyperliquid. However, their account's PnL curve has been on a downward spiral: from a 2025 peak profit of over $44.84 million, bleeding all the way to a current cumulative loss of -$35.4 million! 1. What happened? The "Road to Ruin" of $9.8 Billion in Trading Volume 1️⃣ From Boom to Bust: In the second half of 2025, heavy leverage on ETH + new tokens once brought floating profits of tens of millions. 2️⃣ Holding On + Adding Margin: During market pullbacks, frequent margin top-ups (even selling BAYC to raise funds) led to a vicious cycle of liquidations, wiping out all profits and even eating into the principal. 3️⃣ Staggering Scale: $9.8 billion in orders left countless traces of being monitored and liquidated on DEXs, making this one of the most infamous high-leverage whale cases in the derivatives market. 2. Harsh Lessons for All Traders • Volume ≠ Profit $9.8 billion in trading volume only contributed massive fees and liquidation costs to the platform and counterparties. • No Whale Is Invincible Even resource-rich whales can be completely swallowed by market liquidity when blindly using high leverage + catching falling knives. Leverage is both an amplifier and a destroyer. Stop-losses and position management will always be more important than "faith." Do you think Machi Big Brother will keep throwing money in to recharge and hold out for a comeback? Or is this high-leverage battle nearing its end? Join the discussion in the comments #Hyperliquid #MachiBigBrother #CryptoLeverage #OnChainData #BTC #ETH