An unfortunate crypto trader using the handle “qwatio” has been liquidated eight times in just one week, racking up losses totalling $12.5 million, according to blockchain analytics platform Lookonchain.
In the latest event on Monday, June 30, qwatio was partially liquidated on a 25x leveraged Ether (ETH) position after the price dipped below $2,479. This set a new liquidation threshold at $2,534, with Ether trading between $2,425 and $2,519 in the past 24 hours. Their Bitcoin position also faced partial liquidation, with its liquidation price now at $109,170.
Just days earlier, on Thursday, Lookonchain reported that qwatio was liquidated six times within three days, resulting in a loss of $10 million during that span. Despite this string of bad trades, qwatio has previously secured significant wins. In March, they gained $6.8 million by going long on Bitcoin and Ether with 50x leverage shortly before US President Donald Trump announced an executive order to create a crypto reserve. The trader also profited from a $3.46 million position on First Lady Melania Trump’s memecoin (MELANIA) with 50x leverage and successfully defended a Bitcoin position leveraged 40x by adding margin during an attempted liquidation.
Meanwhile, well-known trader James Wynn, who lost $1 billion on risky trades last year, is back in the markets. Lookonchain reported on Sunday that Wynn opened a small Bitcoin short worth $37,000 with 40x leverage at $107,638, risking liquidation at $108,630. If successful, the trade could have earned him $1.49 million. However, Wynn flipped his position later that day, closing the short at $107,250 and going long with $44,466 as Bitcoin ranged between $107,228 and $108,771.
Amid these high-risk losses, another lesser-known trader recently turned $6,800 into $1.5 million, accounting for over 3% of maker-side liquidity on a major crypto exchange. Over the course of two weeks, the trader recorded $1.4 billion in trading volume, consistently ranking among the platform’s top maker volume contributors.
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