A certain Hyperunit whale that once held over $10 billion in BTC lost $250 million in ETH due to long positions on Hyperliquid According to Arkham's disclosure, a certain Hyperunit whale lost $250 million due to its long position in ETH on the Hyperliquid platform, and its ETH position is the largest in the history of the Hyperliquid platform. It is said that he has been holding Bitcoin for nearly 10 years and is clearly associated with Garrett Jin. Arkham speculates that the whale is Chinese and has been holding Bitcoin since 2017-2018. In the first six months of 2018, he purchased over 100000 bitcoins. He held over 90% of his position for seven years until August 2025, when his strategy changed after Tom Lee began to heavily buy Ethereum. At the peak of its on chain holdings, the whale held a total of $11.14 billion worth of Bitcoin. He transferred BTC worth $4.49 billion to Hyperunit for sale (39738 BTC, now worth $2.74 billion). Afterwards, he received ETH worth $4.07 billion (886371 ETH, now worth $1.78 billion) from Hyperunit and pledged ETH worth $3.94 billion (856372 ETH, now worth $1.72 billion) on the beacon chain. The whale became associated with Garrett Jin through a $40000 on chain transfer and with Jack Yi's Trend Research by depositing millions of dollars worth of funds into the same Binance recharge address. These three parties are likely to know each other. Currently, Hyperunit Whale has lost approximately $3.5 billion on its AAVE leveraged ETH position and on chain BTC/ETH position, and $2.22 billion on its pledged Ethereum. At the beginning of the month, due to a leveraged liquidation, he incurred a further loss of $250 million on Hyperliquid, and currently has a basic break even on the platform. Since its profit and loss (PnL) reached a historical high, its total realized and unrealized losses have been approximately $5.7 billion. Hyperunit Whale has a custom entity on the Arkham platform that contains 100 different Bitcoin and Ethereum addresses.