Brother Ma Ji lost everything! Long 25 times Ethereum positions were completely emptied to "reopen orders in seconds", with a cumulative loss of US$2588

Taiwanese artist Ma Ji Brother liquidated his position twice in Hyperliquid with 25x leverage, losing more than $58 in a few hours, with a total loss of $2500, reflecting the risk of high leverage.
(Summary: Brother Maji’s “Bull King Doesn’t Surrender” made a profit of $153 in a single week! Heavy positions have shifted to Ethereum and HYPE)
(Background supplement: Brother Maji was liquidated 71 times by Hyperliquid in November and became the “Liquidation King”!) Aster grabs customers: Maji mode will be turned on next week)

Taiwanese artist and cryptocurrency whale “Maji Big Brother” Huang Licheng was liquidated multiple times on the decentralized derivatives platform Hyperliquid on the morning of January 30; After the price of Ethereum (ETH) fell below $2,700, his 25x leveraged long position was systematizedFully liquidatedIn just a few hours, the book evaporated nearly $50, and the cumulative loss in one year has reached $2588, showing a long gamble on Ethereum that does not admit defeat.

According to monitoring data, Brother Maji will liquidate his position with only a 4% reverse fluctuation under 25x leverage. When ETH falls below the psychological barrier, the system immediately confiscates the margin and returns the debt, and the position value returns to zero. But the strong gambling is that he hardly hesitated after liquidation and reopened the position with the same multiple; What has been repeated at least three times in the past is that the market price of Ethereum continues to fall, and new positions are triggered immediatelyPartial liquidation, forming a chain reaction of “liquidation-overweight-re-liquidation”.

! Psychology expert: Gambling mentality

Consulting a senior psychologist in the dynamic area, his continuous bets are a “gambler’s fallacy”, such as trying to catch a rebound before the price stabilizes, hoping to make up for losses once in a while. However, Hyperliquid’s mechanism is not forgiving, and the maintenance margin under high leverage is extremely low, and once the market does not go as expected, the algorithm will be ruthless. Compared with the conservative leverage control rules of traditional finance, this incident highlights the stark difference in liquidity and risk management in DeFi.

Looking back at October to November 2025, Brother Maji recorded a record of 71 liquidations in a single month and a total of 145 liquidations in a turbulent market. However, it is clear that Brother Maji’s financial resources are still quite strong, he still holds about $99.9 million in ETH spot and a number of altcoins, with total risk assets estimated at $1.3 billion. Even though Huang Licheng has strong financial resources, the macro uncertainty brought about by the Trump administration’s new policies has further boosted market amplitude and has become a typical epitome of recent crypto traders.

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