In cryptographic trading, the promise of massive gains often involves the risk of heavy losses. Over the years, several high -level crypto traders have made the headlines for their daring bets, only to see their fortune collapsed when the market turned against them.
From Bitcoin (BTC) to Ethereum (ETH), the cryptography market has proven to be a double -edged sword. Millions can be manufactured or lost in a few hours, and traders must face the fallout from their high -risk movements. Here are the stories of three crypto traders who destroyed millions:
James Wynn
James Wynn, a pseudonym trader on hyperliquid, has become one of the most discussed figures on Crypto Twitter (now X) because of his high -risk and high reward trading style.
Wynn began to negotiate on the hyperliquidal in March 2025. He has raised significant profits thanks to his daring trading strategies.
Since I started negotiating this year on the hyperliquid this year, I have made a total profit of 41,696,589.75 $ (chain). The following objective is $ 1 billion. said May 9.
The merchant had several successful professions. On May 24, he reserved a profit of 25.18 million dollars on a long position in Kpepe and $ 16.89 million in a long position of Bitcoin. Other notable exchanges included a profit of $ 4.84 million in Fartcoin (Fartcoin) on May 13 and a profit of $ 6.83 million from Trump (Trump) on May 12.
Wynn’s profits culminated at more than $ 87 million in late May. However, this was short -lived, while the professions began to turn against fire shortly after. Wynn faced a series of important backhands.
On May 23, he lost $ 3.69 million in a long Ethereum position and $ 1.59 million in a SU (SU) position. Two days later, on May 25, he suffered a loss of $ 15.86 million compared to a short BTC position.
“James Wynn has wiped almost all of his profits on the hyperliquidal. It took him 70 days to go from $ 0 to 87 million, and only 5 days to lose almost all $ 87 million in profits,” published Lookonchain on May 28.
Despite the loss of everything, Wynn’s bets continued. The biggest blow occurred on May 30, when a long BTC position resulted in a loss of $ 37.41 million. Wynn’s losses have extended until May 31, with an additional $ 1.20 million lost by another long position of the BTC.
Finally, on June 5, Wynn lost $ 2.81 million on a long position of the BTC, bringing its total losses to $ 20.4 million.
“I closed my position. Vanquished accepted. MM of MM 1-0 Wynn,” he said.
At the time of writing the editorial staff, Wynn’s performance showed a 40.48%victory rate, with 17 successful transactions out of 42.
Anonymous ethn whale
The fall of Wynn is part of a broader trend, with other merchants of crypto also losing millions. In March 2025, an anonymous cryptocurrency merchant, identified by the address of the portfolio 0xf3f496c9486be5924a93d67e98298733bb47057c, underwent an amazing loss of $ 308 million after a 50x long position on ETH.
The merchant had opened the position when ETH was negotiated at $ 1,900, with a liquidation price of $ 1,877. However, in the midst of the increased volatility of the market trained by global tariff concerns, the price of the ETH fell, liquidating 160,234 ETH.
Lookonchain reported that the whale had turned all their Bitcoin operations in this leverage Eth effect, amplifying the risk.
“Crazy! This whale changed all its long BTC positions in Long ETH,” read the post.
LEVER effect trading, which uses funds borrowed to enlarge both gains and losses, turned out to be disastrous in this case, while a small price movement eliminated the whole position of the merchant.
Meanwhile, the merchant has opened no posts on the hyperliquid since the end of March.
Hui yi
Although leveraged bets have led to massive financial losses, they also tragically led to the loss of linked lives. In June 2019, Hui Yi, co-founder and CEO of the cryptocurrency market analysis platform, BTE.Top would have followed his life.
Yi’s distress would be caused by its involvement in a short position of 100x with 100x of 2,000 bitcoins. The extreme lever effect has amplified its losses, which makes its position very vulnerable to the fluctuations in even minor prices.
There was also speculation that the 2,000 bitcoins could have belonged to customers. Some even suggested that Yi may have simulated his death to avoid reimbursement. However, no evidence supported these theories.
An ex-partner confirmed the death of Yi. This tragic incident highlighted the psychological assessment of leverage and the dangers of the use of excessive funds borrowed on the volatile cryptography market.
Post-Crypto trading went wrong: how these 3 traders have erased millions of people first appeared on Beincrypto.
