A trader who pocketed $192 million shorting BTC ahead of last week’s crypto kill has loaded up on a big bearish position as markets try to recover from Trump’s tariff shock.
The wallet, identified as 0xb317 on decentralized derivatives platform Hyperliquid, opened a new short position of $163 million in bitcoin on Sunday evening, data from Hypurrscan shows. The position has 10x leverage and has already made $3.5 million in profits in the Asian afternoon hours with a liquidation level of $125,500.
The same trader first drew attention on Friday when it opened a selloff about 30 minutes before former President Donald Trump’s surprise announcement of 100% tariffs on Chinese imports, a move that wiped out more than $19 billion in crypto market value and triggered the biggest day of selloffs in the market.
The perfectly timed bet generated a profit of nearly $200 million, prompting speculation that the entity may have had prior knowledge of the policy change.
Analysts and on-chain traders have since called management an “insider whale.” Some even argue that the position itself could have accelerated the collapse.
🚨 This Hyperliquid whale opened shorts just 30 minutes before Trump announced 100% tariffs on China. It closed operations with a profit of 192 million dollars. These accounts were opened today and you have already withdrawn most of the money.
Lucky whale or insider information?
DC @martypartymusic pic.twitter.com/uWv5lBsJ5N
– Ash Crypto (@Ashcryptoreal) October 11, 2025
What is hyperliquid and why is it important?
Hyperliquid is the largest decentralized perpetual securities exchange that allows traders to open high-leverage futures positions directly on-chain, without relying on centralized intermediaries like Binance or OKX.
It has become a favorite among high-frequency traders and whales due to its deep liquidity, transparent order book, and ultra-fast execution, making it one of the few DeFi platforms capable of handling institutional-sized flows.
The platform also features Auto-Deleveraging (ADL), or a built-in safety mechanism that prevents bad debts during extreme volatility. When insurance funds are exhausted, ADL forcibly closes profitable positions to cover losses from bankrupt accounts. It ensures solvency, but can also worsen liquidations, as profitable traders are liquidated to balance the system.
According to data from HyperTracker, more than 6,000 wallets were affected during the weekend’s ADL-induced flow, wiping out more than $1.2 billion in trader capital on Hyperliquid alone.
The new short selling adds intrigue to an already nervous market as participants continue to assess the effects of contagion following the weekend’s drop.
