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Trader loses $24 million on ether in 12 seconds after $49 million crypto short

A Hyperliquid wallet liquidated a 50,000 ETH short position as ether's price surged, triggering a rapid loss.

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Marcus Webb · Crypto Desk · 21 Aug 2026 · 11:08 · 1 min read
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Trader loses $24 million on ether in 12 seconds after $49 million crypto short

A trader who previously profited $49 million from shorting cryptocurrency faced a $24 million loss on ether in just 12 seconds. The Hyperliquid wallet identified as pension-usdt.eth was forced to exit a 50,000 ETH short position as ether's price rose sharply.

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BTCUSD
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76726.0000▲ 6.38%
As of 21/08/2026, 11:51:09

Five liquidation orders contributed to the price increase during the unwind, according to available data.

This article was produced with AI assistance and edited by a Finance Review Daily journalist.
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Written by
Marcus Webb
Crypto Desk

Marcus reports on digital assets, from spot ETF flows to protocol-level developments in DeFi. He pays particular attention to how institutional adoption is reshaping crypto market structure.

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