Who would have thought that the once powerful 'Brother Maji' in the crypto circle would now fall victim to high leverage on ETH! The latest news shows that his ETH long position with 25x leverage was forcibly liquidated, resulting in a single round loss of as much as $20.62 million. His account, which peaked at nearly $60 million in assets, is now left with less than $2,000, making it a real-life version of the most tragic wealth roller coaster in the crypto world 🤯
In fact, his trading operations in the crypto circle have always been crazy and aggressive, from early retail investor losses to the later fall of whales. Each trade has been full of controversy, and when counted, they are all lessons learned through blood and tears!
As early as 2017, he plunged into blockchain, and the first wave of operations resulted in the social mining project Mithril, which raised $51.6 million in an ICO. However, shortly after the token was launched, the team sold off 89% of the circulating coins, causing the price to plummet by 80%. Ultimately, the cumulative drop exceeded 99%, leading to its delisting from exchanges, directly teaching retail investors a lesson on 'what it means to pump and dump.' Since then, he has been labeled as an 'early blade in the crypto circle' 🔪. At the same time, he also launched Baodao Financial, raising $23 million for crypto asset custody, but it soon collapsed due to misappropriated funds, and the project went to zero, leaving holders with nothing.
In 2020, the DeFi craze came, and he followed the trend to set up a lending protocol, Cream Finance. At its peak, it locked over 1 billion dollars due to high-yield mining. Unfortunately, there were numerous security vulnerabilities, and within a year, it suffered five hacker attacks, accumulating losses of over 200 million dollars. In the end, he had no choice but to hand over control and flee in a panic, with the value of the tokens he held also greatly shrinking 💧
The most glorious was the NFT track. In 2021, he crazily bought Bored Apes and Mutant Apes, holding 55 BAYC, 102 MAYC, and 1.51 million APE tokens, worth over 24 million dollars at the time. He also expanded his influence by sending celebrity NFTs, becoming a top whale in the NFT circle. However, in 2023, as the market cooled, he continued with reckless operations, buying high and selling low. After picking up 71 BAYC, he urgently sold off over a thousand NFTs, directly crashing the floor price of BAYC by 25.5%. Just this wave of holdings lost over 5,000 ETH, and the label 'bro's big cut' was completely cemented on him 🙄
In 2024, he followed the Meme coin trend again, launching a coin named after his dog, Boba Oppa, on the Solana chain. The 24-hour presale raised 40 million dollars, but on the day of launch, the coin's price plummeted by over 70%, leading to another wave of harvesting retail investors. In the end, the token gradually went to zero, leaving holders crying out for help.
What really caused him to take a major hit was still the high-leverage gamble in 2025! In early June, he made a floating profit of 6.5 million dollars with HYPE positions. By July, he dared to increase his long position to 126 million dollars, becoming a top whale on the platform. August was even crazier, holding 11,900 ETH (about 51 million dollars) + 500,000 HYPE (about 21.68 million dollars). With high leverage, he once had a floating profit of over 30 million dollars, but then he opened a 25x short position on ETH and was brutally countered by the market, leading to a significant profit retracement 📉
In September, he briefly reduced leverage to 15x, and floating profits climbed back to 44.84 million dollars. Just as he was about to bounce back, he fell back into the gambler's habit. In October, when the market crashed, he stubbornly refused to lower leverage and instead increased his positions to 40x long BTC and 25x long ETH, with a total position value reaching 150 million dollars. However, the market was uncooperative. ETH fell from 4,765 dollars all the way down, and all his floating profits disappeared within 20 days, with a single-day loss peaking at 21.53 million dollars, completely turning his account from profit to loss.
The final struggle was even more outrageous. On November 3rd, ETH long positions were liquidated for the first time, losing 15 million dollars, leaving only 16,700 dollars in the account. He was still not willing to give up, using this little money to open 100 times the 25x long positions of ETH. As a result, 24 hours later, he was liquidated again, with only 1,718 dollars left in the account. A direct loss of 20.62 million dollars wiped out years of accumulation 💸 Faced with the crushing defeat, he casually left a comment on social media, 'Was fun while it lasted,' seemingly carefree but actually filled with helplessness.
From early projects harvesting retail investors, to NFT, DeFi, and Meme coins flipping positions in turn, and then to the complete failure of high-leverage ETH, every position of the bro was inseparable from 'following the trend + high-risk operations.' There has never been a myth in the crypto world of guaranteed profit without loss, and high leverage is a double-edged sword. Even whales cannot withstand the market's violent attacks, and ordinary investors must be more vigilant against following trends and chasing highs. Greed will ultimately be severely punished by the market! Do you think the bro will make a comeback?
