A high-stakes crypto trading account managed by Jeffrey Huang, the trader known online as Machi Big Brother, collapsed from a peak of $12.25 million to roughly $21,800 after a forced liquidation on the Hyperliquid derivatives exchange, erasing more than 99% of the account’s value in a single episode.

Blockchain analytics firm Lookonchain detailed the reversal in an October 15, 2026, post on X. The account had reportedly grown from an initial stake of just $56,000 to $12.25 million over a four-month stretch of leveraged trading. The liquidation reduced the balance to $21,787.78, according to the platform’s data. The near-total drawdown underscores how quickly leveraged positions can unwind when market prices move sharply against a…