A trader previously celebrated for a flawless 100% win rate has suffered a dramatic reversal, with their portfolio plummeting from a $33.2 million profit to a $5.5 million realized loss, marking one of the most spectacular trading collapses in recent history. This event unfolded amid a sharp market downturn that wiped out months of gains and triggered massive liquidations.
The trader, identified as 0xc2a3, was heavily over-leveraged with long positions totaling over $387 million, including 1,210 Bitcoin (BTC), 39,000 Ethereum (ETH), 600,832 Solana (SOL), and 161,961 Hyperliquid (HYPE). Leverage levels ranged from 10x to 15x, amplifying both potential gains and risks. As of November 3, 2025, the trader also faces over $21.7 million in unrealized losses, meaning actual losses could mount if positions are closed during the downturn.
This collapse contributed to one of the largest crypto liquidation events of 2025, with over $20 billion in leveraged positions wiped out across exchanges. Bitcoin fell below the $100,000 mark, while Ether and Solana saw significant declines, and HYPE collapsed by more than 10% due to reduced liquidity. The mass sell-off eroded investor confidence and sparked panic in major markets, as noted by analysts and on-chain observers like Fujangankan and Whale Insider.
Earlier in 2025, the same trader had gained fame by profitably shorting $110 million in Bitcoin, but a shift to aggressive long positions just before a market correction proved disastrous. Industry experts highlight this as a stark reminder of crypto volatility and the dangers of overconfidence and high leverage, emphasizing that even top performers are not immune to sudden market shifts.
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