Cryptocurrency whale’s staggering $87 million profit evaporated in less than a week, drawing sharp attention to the dangers of high-leverage trading on decentralized platforms.
James Wynn, a trader known online as @JamesWynnReal, gained notoriety after reportedly turning a $3 million investment into $87 million in unrealized gains on Hyperliquid, a decentralized exchange that supports perpetual futures trading with leverage up to 50x. But within five days, nearly all of those profits had vanished, according to blockchain analytics firm Lookonchain.
Wynn used 40x leverage on Bitcoin amid a historic rally that saw the cryptocurrency hit an all-time high of $111,000 on May 22, according to CoinGecko.
Data from Hyperdash.info, which tracks trades on the Hyperliquid platform, showed Wynn’s account peaking before Bitcoin’s price fell sharply to $108,700—precisely his reported liquidation level.
In a May 27 post on X, formerly Twitter, Wynn said he narrowly escaped liquidation by cutting his position size in real time as the price dropped. “They sent price down to $108.7k. THAT WAS MY LIQUIDATION PRICE,” he wrote, implying that larger market players had targeted his position.
Despite his efforts, the market turned decisively. By May 28, Lookonchain reported that Wynn’s account had flipped to a $1.2 million loss.
The implosion has sparked intense debate across social media platforms, where traders criticized Wynn’s risk management and expressed disbelief at the speed of the reversal. “Bro really vaporized $80M in a week,” posted user @blknoiz06, alongside screenshots of Wynn’s portfolio.
Hyperliquid has gained traction for its low fees, user-centric design, and high-leverage features, according to a CryptoPotato review published May 27. While rival platforms like dYdX cap leverage at 20x, Hyperliquid’s 50x maximum appeals to aggressive traders—though experts warn it leaves little room for error. 2.5% market move against a 40x leveraged position is enough to trigger liquidation.
Wynn’s high-stakes trading history includes a reported $1.25 billion Bitcoin long closed earlier this month at a $13.4 million loss, despite previously sitting on $40 million in unrealized gains, TradingView News reported.
Such volatility underscores the broader risks of leverage in the crypto market, where small price movements can erase fortunes. Bitcoin surged past $100,000 in December 2024 but has seen wide swings in 2025. A 2021 Pew Research Center study noted that underserved communities—particularly Asian, Black, and Hispanic Americans—are more likely to engage in crypto trading, often drawn by the lure of quick gains but disproportionately exposed to market risks.
Wynn remained stoic in the aftermath. “No crying in the casino,” he commented in response to Lookonchain’s post on May 28, echoing a meme posted by Kraken Exchange quoting former President.
His dramatic rise and fall have reignited discussion over trading psychology. A 2021 study by the U.S. National Library of Medicine cited overconfidence and fear of missing out (FOMO) as major drivers of excessive risk-taking in cryptocurrency markets—traits that may have fueled Wynn’s aggressive approach.
As Hyperliquid expands its offerings, including scale orders and memecoin trading, Wynn’s experience may serve as a cautionary tale—or a prelude to a potential comeback. For now, the community watches to see whether the self-declared “legendary trader” can recover—or whether his story ends as a sobering reminder of the thin line between profit and peril in crypto’s high-stakes frontier.
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