Millionaire crypto trader James Wynn has suffered a staggering $25 million loss after his highly leveraged Bitcoin position was liquidated, intensifying scrutiny on market transparency and manipulation.
According to blockchain analytics firm Lookonchain, Wynn was forced to liquidate 240 BTC, valued at over $25 million, following a sharp market downturn that triggered his liquidation threshold prior to the event.
James Wynn(@JamesWynnReal) just got liquidated for 240 $BTC($25.16M).
He also manually closed part of his position to lower the liquidation price.
He still holds 770 $BTC($80.5M), with a liquidation price of $104,035.https://t.co/FX6sISWuDP pic.twitter.com/ZrroIyP9LZ
— Lookonchain (@lookonchain) June 4, 2025
Despite the loss, Wynn still holds 770 BTC — worth approximately $80.5 million — though this holding remains at risk, with its liquidation price reportedly hovering near $104,035. As of June 4, blockchain scanner Hypurrscan indicates Wynn is sitting on nearly $1 million in unrealized losses from his ongoing 40x leveraged long position.
Taking to social media after the liquidation, Wynn blamed alleged market manipulation for the price movement that wiped out his position. He has since launched a campaign soliciting donations to fund what he calls a mission to expose such manipulation.
Wynn rose to prominence through bold, public, high-leverage trades on the platform Hyperliquid, where trader data is made publicly accessible. His recent trading spree began on May 24, when he opened a $1.25 billion Bitcoin long at 40x leverage, just a day after incurring a $29 million loss.
His positions have been anything but steady. On May 25, he closed his massive long position and flipped to a $110 million short. Yet, the following days only worsened his standing — by May 29, data from Lookonchain and Arkham Intelligence suggested that Wynn had lost $100 million over the previous week.
Unshaken, Wynn returned with another $100 million long bet earlier this week, claiming he was aiming for a billion-dollar win, a gamble that led to this latest $25 million liquidation.
In response, Binance co-founder Changpeng “CZ” Zhao proposed the development of a dark pool perpetual swap DEX — a decentralized exchange designed to mitigate manipulation risks.
Zhao also signed a memorandum of understanding (MoU) with Kyrgyzstan’s National Investment Agency (NIA) to provide advisory services on blockchain technology and cryptocurrency regulations.
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