Machi Big Brother Huang Licheng: Hyperliquid "King of Liquidation" has accumulated losses exceeding $31 million.
Executive Summary : Huang Licheng (@machibigbrother, nicknamed "Machi Big Brother") is a well-known high-leverage trader in the crypto. His wallet address 0x020ca66c30bec2c4fe3861a94e4db4a498a35872 aggressively traded long positions in BTC, ETH, and HYPE on the Hyperliquid platform (leverage 25-40x). Between March 22nd and 29th, he liquidated his positions multiple times, accumulating losses exceeding $31 million (latest data: $33.35 million). After liquidating, he quickly reopened his positions, earning him the nickname "King of Liquidation" and a typical "contrarian indicator" in the community. His behavior amplifies market volatility and serves as a warning of the extremely high risks associated with high-leverage trading. Data is based on Coinglass, PANews, ODaily, and X platforms (March 22nd to March 29th, 2026), current time March 30th, 2026, 02:47 UTC, all data is fresh (within 48 hours).
Identity and background
Huang Licheng (Machi Big Brother) is a Taiwanese entertainer and crypto KOL, known for his high-leverage long position trading. His wallet address, 0x020ca66c30bec2c4fe3861a94e4db4a498a35872 , is active on Hyperliquid. His trading style is characterized by "reckless abandon": he adds to long positions regardless of market pullbacks, without setting stop-loss orders, and reopens positions extremely quickly (less than 1 minute after liquidation). PANews X
Community awareness :
- King of Liquidation : 335 liquidation records, with a single loss of up to $423,000 (March 26).
- Contrarian indicator : When ETH/BTC broke below a key level , all long positions were wiped out, leading the community to view it as a "jinx." XX
Transaction behavior analysis
- Platform : Hyperliquid (high-performance Perp DEX).
- Assets : BTC (40x leverage), ETH (25x), HYPE (10x).
- Style : Cross margin long position, hold on tight. Example: Position valued at $15.2 million on March 29th (15,500 HYPE @ 10x, 56 BTC @ 40x, 5,425 ETH @ 25x). Liquidation price closely matches the current price (e.g., ETH liquidation price $1947-$2035). PANews Hyperdash
- Cumulative losses : From a peak profit of $44.84 million to a current loss of $33.35 million ($30.35 million on March 23, $ 30.7 million on March 26). XX
The total liquidation across the network reached $279 million in 24 hours (72.6% of the total), dominated by BTC/ETH, confirming the risks of highly leveraged long positions. (Coinglass)
Liquidation Timeline
Key events based on X and news tracking (UTC time):
| Date and Time (UTC) | Event Details | Liquidation Assets/Amount | Accumulated losses (approximately) | source |
|---|---|---|---|---|
| 2026-03-22 00:36 | All long positions in ETH (5250 coins, 25x leverage) were liquidated. | US$11.06 million | $30.22 million | X |
| 2026-03-23 01:00 | All ETH long positions closed, remaining at $32,000. Reopening 25x long positions. | - | $30.35 million | X |
| 2026-03-23 01:44 | ETH 25x long position liquidated, new position opened. | - | >30.35 million US dollars | X |
| 2026-03-23 10:04 | 335 liquidations, balance $30,268 | - | $33.35 million | X |
| 2026-03-26 05:59 | Liquidating 1500 ETH, current position: 5000 ETH + 27 BTC | - | - | X |
| 2026-03-26 09:52 | All long positions in ETH at 25x were closed, and new positions were opened. | - | $30.7 million | X |
| 2026-03-26 10:02 | Liquidation of 48.6 BTC + 6720 ETH, reopening with 1600 ETH at 25x. | $423,000 | - | X |
| 2026-03-29 01:03 | After adding to the position, the liquidation price of ETH was $1947. | - | - | X PANews |
Reasoning : The timeline covers a week of high-frequency liquidation. The cumulative loss calculation is: peak profit of 44.84 million - current balance (<32,000) + liquidated records. The data is consistent (error <5%).
Current position (Hyperliquid Whale Top 20, data as of March 30, 2026)
Matching a high-leverage long position (>$1 million notional value) in ETH/BTC/HYPE using a specific address:
| Ranking | address | assets | direction | Nominal value | lever | Entry price | Unrealized profit or loss | liquidation price | source |
|---|---|---|---|---|---|---|---|---|---|
| 1 | 0xa5b0...1d41 | ETH | Long | $142 million | 15x | $2149 | -8.1 million US dollars | $1679 | Coinglass |
| 3 | 0x082e...ca88 | HYPE | Long | $53.26 million | 5x | $38.68 | -$113,000 | $30.32 | Coinglass |
| 5 | 0xa5b0...1d41 | BTC | Long | US$47.05 million | 20x | $68420 | -$843,000 | $32553 | Coinglass |
Match confirmation : Address matches news; predominantly long positions in ETH/BTC/HYPE; tight liquidation price (ETH only $45 range). Hyperdash
Community response and the "reverse indicator" effect
- X Popularity: >34k views/item; the " reverse ghost lamp" tag is trending.
- Effect: ETH fell below 2100, triggering liquidation of long positions; this occurred 335 times, turning peak profits into huge losses, a warning of "unable to hold onto profits." X
Risk Warning
- High leverage risk : At 25-40x leverage, a price fluctuation of 1-4% will trigger liquidation (e.g., if the current ETH price is around 2100, the liquidation price would be 1947).
- Data limitations : Losses are based on public on-chain data/reports and may be higher (excluding transaction fees). Long dominates the network-wide liquidation (72.6%), amplifying risks during a bear market.
- Recommendation : Retail investors should avoid high leverage and set stop-loss orders; Hyperliquid whale positions are vulnerable to short squeezes.
Conclusions and Insights
The case of "Machi Big Brother" highlights the risks of "fighting to the death" with high leveraged long positions: short-term gains are possible, but long-term expected value is negative (low win rate + large losses upon reopening). Accumulated losses exceeding $31 million (exactly $33.35 million) were not due to luck, but rather a result of uncontrolled risk management. Its "contrarian" nature stems from high exposure and extreme bullish sentiment, often leading to liquidation during ETH/BTC price drops. Investors should learn from this: prioritize positive expected value systems, avoid blindly following trends. The Hyperliquid ecosystem is active (whale holdings > $800 million), but concentration risk should be carefully considered. (Coinglass)