A Hyperliquid wallet tracked by Lookonchain as belonging to Machi suffered the forced liquidation of 1,650 ETH early on Oct. 15, crystallising about $269,225 in losses before fees. Less than seven minutes after the final forced sale, the wallet began building a new long position and had returned to a 2,500 ETH bet on rising prices by the afternoon.
According to CryptoSlate, Hyperliquid’s public transaction data recorded 232 liquidation fills between 3:22:25 a.m. and 3:24:32 a.m. BST. The fills were executed at prices ranging from $2,330.30 to $2,380.30. The reported loss figure excludes approximately $1,087 in fill fees.
A rapid return to a large position
The liquidation was preceded by additional voluntary selling. From 2 p.m. BST on Oct. 14 until the final forced fill the next morning, the wallet closed another 4,000 ETH voluntarily, recording about $302,312 in realised losses before fees. That figure is separate from the forced-liquidation loss, although 250 ETH of the voluntary closures took place during the forced-close period.
The wallet started buying again at 3:31:27 a.m. BST, six minutes and 55 seconds after the last forced fill. By 3:56 a.m., it had accumulated a 320 ETH long at an average entry price of about $2,355.53. By 1:16 p.m. BST, the position had expanded to 2,500 ETH, with an average entry near $2,370.34.
The sequence illustrates how a trader can remain active after a forced close. Hyperliquid’s rules make a position eligible for liquidation when account equity falls below the required maintenance margin. If selling through the order book restores that margin, any collateral left in the account remains available to the trader. A forced liquidation therefore does not necessarily prevent further trading.
A separate Hyperliquid transaction also showed 250,000 USDC arriving in the wallet’s spot balance at 10:48 a.m. BST. CryptoSlate had previously reported on the wallet’s risk in August, citing an Aug. 14 snapshot that showed a 2,500 ETH long and a liquidation price of $1,859.15.
Market backdrop and current prices
The renewed position came amid a broader crypto-market selloff. In a 1:14 p.m. BST snapshot, CryptoSlate displayed Ether at $2,362.88. Data from Farside showed that US spot Bitcoin ETFs experienced $261.4 million in net outflows on Oct. 14, while US spot Ether ETFs recorded $129.5 million in net outflows. Those figures relate to the US trading session before the overnight Hyperliquid liquidations.
Moneyiar market data at 9:39 p.m. +03:30 on Oct. 15 showed Ethereum at $2,459.1237, up 1.43% over 24 hours but down 0.69% over seven days. Hyperliquid’s HYPE token was $82.1711, up 1.37% in 24 hours and down 2.87% over seven days. Ethereum Name Service stood at $5.7717, while OriginTrail was $0.4303; their seven-day changes were -7.19% and +7.79%, respectively.
