Investigations
Who did what, and how it ended. Every story is rebuilt from public exchange records: trades, accounts, transfers. The addresses are open, so anyone can check every number.
The whale who never walks away is 2.4% from liquidation: a 38,900 ETH long at 25x with the threshold at 2,505, ether near 2,567, all-time down $32.1M. The 40x bear went back into the bitcoin short and this time closed $188K up; he is short 150 BTC again. The refill whale is out: six forced closes on 4 and 7 October emptied the account, $4.51M down all-time, and we have closed his case. Both wallets of the 911 BTC story have switched sides, both still at 40x. The rent collectors took another $1.94M of funding in four days. And on 30 October, the same expiry as the 70,000 call seller, someone paid $103K for a butterfly that pays most if bitcoin settles at 95,000.
as of 07.10.2026, 14:00 UTC; each story below has its own updateAll stories
Liquidated for $2.28M, $5.45M back in 38 minutes: the whale won't let go of ETH
On 8 October the exchange closed 8,246 ETH of his long at -$2.28M. Within 38 minutes he wired in $5.45M. Today he is long 48,500 ETH, 7.1% above his liquidation line.
-$2.28M on 8 October, -$15.1M all-time todayA $7.1M butterfly: someone paid for a 95,000 bitcoin bet with September calls
On 21 September someone bought 11,000 bitcoin butterflies for $7.1M and paid with September calls that expired worthless. On 20 October 6,000 of them sold at $108, not $646.
$7.1M on 21 September, $108 a butterfly on 20 OctoberMade it on crypto, lost it on stocks: a Hyperliquid whale and the CBRS ticker
Up $18.8M on 25 September and $10M withdrawn. Then stock contracts, -$6.95M on CBRS and a 25x ether long 0.85% from liquidation.
+$18.8M at the peak, -$0.21M today$1.97M paid up front on Deribit: now the seller loses while bitcoin stands still
On 19 October one block took in $1.97M: March 88,000 bitcoin calls sold, November 83,000 calls bought. It hurts this position most if bitcoin stands still into 6 November.
$1.97M up frontSomeone paid $103K for bitcoin to stop at one price: 95,000
On 7 October, 39 minutes after the bottom of a night drop, someone paid $103K for a 250 BTC butterfly. Up to $1.25M if bitcoin settles near 95,000 on 30 October, 13% higher.
$103K paid, about $20K on 22 OctoberOnly bitcoin shorts, five liquidations: a Hyperliquid whale down $3.68M of $4M
$4.0M in the account on 28 August, not one long on bitcoin. Five forced closes in five weeks, -$3.68M. On 7 October he is short at 40x again, and this time he closed $188K up.
$5.0M in, $2.58M left$5.2M in, $68.4M out, and the seller is back in the game until 30 October
In August 4,709 bitcoin calls at 70,000 were sold for $5.2M. On 25 September buying them back cost $68.4M, and the same record block sold October ones for $71M.
$68.4M to buy backThree weeks under water, then up 177%: how they held and took $8.7M on ether
In July 21,929 ether calls were bought at 1,950; on 22 September all were sold at 2,730: $4.85M became $13.56M. And about 4,000 more calls were sold from zero, a bet on a 2,860 to 3,200 ceiling into March.
+$8.7M in 57 daysUp $69M. And not one bet on where price goes
The exchange paid two wallets $69.1M over twenty months. They do not trade direction: they buy the coin on spot and short its perpetual in the same second. The $204M loss on the shorts is the second leg, not a loss.
$69.1M collected in fundingDown $30M on ZEC. And a 1,640 BTC wall at 78,000
A 38k ZEC short held since June closed on 20 September, down $32M. The next morning the whale sold all 1,333 BTC too, pulled his 78,000 wall and went to cash.
$23.5M lost across two exitsUp $44.8M a year ago. Down $35.7M today. And 25x again
Up $44.8M a year ago with $50M in the account. 260 top-ups. On 7 October he's at -$32.1M, long 38,900 ETH with liquidation 2.4% below the price.
+$44.8M a year ago, $37M down todaySix seconds: one lost $1.59M, the other made $156k
A 911 BTC long at 40x leverage, liquidated in six seconds: the wallet lost $1.59M. In those same seconds another wallet's bid bought part of the sale.
-$1.59M in 6 seconds$3.95M on one strike. A day later, +$2M. Four days later, zero
9,000 calls on one strike in two days. Up $2M on paper on the morning of 9 September. By 12 September all three expiries had gone out worthless.
$3.95M in premium, zero at settlementTen refills in 27 days: $4.32M in, $1.04M left
Sixteen refills, $5.16M put in, 40x leverage. Up almost a million at the peak. On 4 and 7 October six more forced closes, and the account ran dry: $4.51M down all-time.
$5.16M in, $4.51M lostCase #2206: smart money bet $750,000 against the news and won
Everyone was hunting for a “pump insider”. We rewound the trade feed a week and found a patient bearish structure that sat through -50% without a single trade.
≈ +$1.39M