The Hyperliquid wallet known as pension-usdt.eth was forced out of a 50,000 ETH short as ether surged, with five liquidation orders helping push the price higher during the unwind.
- A trader using the wallet “pension-usdt.eth” was forcibly liquidated out of a 50,000-ETH short position on Hyperliquid in 12 seconds, losing nearly $24 million.
- The rapid series of five forced sales helped push ether’s price up $43 during the liquidation, making each subsequent chunk of the short more expensive to close and leaving Hyperliquid’s insurance fund to absorb the final 1,417 ETH.
- The loss wiped out roughly half of the wallet’s prior $49 million in short-selling profits and left the account effectively empty amid a broader market squeeze that saw $2.74 billion in crypto shorts liquidated in 24 hours.
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