Hyperliquid trader “0xa523” has overtaken James Wynn to become the platform’s largest losing whale, racking up over $40 million in losses in under a month, according to on-chain data. The trader’s downfall has been attributed to a series of high-leverage missteps, including a $39.66 million loss on Hyperliquid (HYPE), where 0xa523 sold 886,287 tokens before the asset rebounded. Had the trader held the position, it would now be worth nearly $9 million more.
In addition to this, 0xa523 later lost over $35 million on a long Ether (ETH) position that was flipped to a short, resulting in an additional $614,000 loss. The trader’s current Bitcoin (BTC) short position is also underwater, showing an unrealized loss of $1.8 million, according to data from Hyperdash. The wallet is running a $152 million position with 28.69x leverage and has a combined monthly loss of $39.5 million.
Whale 0xa523 lost over $40M in less than a month, surpassing @AguilaTrades, @qwatio, and @JamesWynnReal to become the biggest loser on #Hyperliquid!
His list of losses is staggering:
He previously sold 886,287 $HYPE($39.66M) at a loss. If he had held, it would be an unrealized… pic.twitter.com/jYLNhvWADr— Lookonchain (@lookonchain) September 9, 2025
James Wynn’s losses surpassed by 0xa523
The massive losses incurred by 0xa523 have placed the trader at the top of Hyperliquid’s leaderboard, surpassing James Wynn, who posted a $23.6 million loss last month. Wynn, known for his high-risk trading strategies, became notorious when he deactivated his X account in July, updating his bio to read simply “broke.” However, he later returned with two high-risk positions, including a 40x leveraged Bitcoin long and a 10x leveraged PEPE long.
Wynn had previously gained attention in May when his $100 million leveraged Bitcoin position was liquidated, followed by another $25 million loss on June 5. He later suggested that large market players had deliberately targeted his liquidation levels.
Andrew Tate suffers substantial losses on Hyperliquid
The losses on Hyperliquid aren’t limited to 0xa523 and Wynn. Andrew Tate, the former kickboxing champion and controversial influencer, has also seen significant losses on the platform. Tate opened a long position on the Trump family-linked World Liberty Financial (WLFI) token, which was liquidated for a total loss of $67,500. This liquidation occurred less than two weeks after Tate opened a 3x leveraged short position on the Kanye West-linked YZY token, which also resulted in a loss. His cumulative losses on Hyperliquid now stand at over $726,000.