Taiwanese American entrepreneur Jeffrey Huang (제프리 황) swept through the crypto market under the name Machi Big Brother. But a story circulating in the community says he lost $75 million in leveraged trading in 6 months, leaving only $30,000 in his account.

BeInCrypto, a blockchain outlet, reported on March 24 that Huang made an aggressive leveraged bet on Hyperliquid, a decentralised perpetual swaps exchange.

According to figures compiled by on-chain analytics firm Lookonchain and Hyperdash, Huang drew attention in September 2025 after earning $44.8 million in profit, becoming known as the "king of liquidation". But after he went through 335 liquidations, the nickname resurfaced with an ironic meaning. Trader Joe said, "If you use leverage excessively without risk management, losing everything is a natural result," adding, "The $75 million evaporation shows that the market demands humility from everyone without exception."

Huang had only $30,268 left in his account. But Arkham Intelligence tracking found he later deposited an additional $500,000 and bought $11.5 million worth of ether (ETH) again. It was later confirmed that he held two open positions, including 5,350 ETH and 8,000 HYPE, and both positions were showing unrealised losses.

His case is similar to another well-known trader, James Wynn (제임스 윈). Wynn also earned $8,700 in May last year from leveraged trading on Hyperliquid, but his profits fell sharply amid a large-scale liquidation. Wynn later tried several times to return to Hyperliquid, but his short positions were all liquidated recently as bitcoin rebounded.

The market views Huang's case as another example exposing the vulnerability of high-risk leveraged trading. Huge profits can be made over a short period, but losses can also balloon in an instant if the direction is wrong. Some point out that the high-leverage structure of decentralised derivatives exchanges, combined with the volatility of the cryptocurrency market, can pose greater risks to investors.

Some analysts say the successive cases involving Huang and Wynn are sending a warning signal not only to individual traders but also to the broader market. They say liquidation risks can only rise as reliance on excessive leverage repeats, which could ultimately spur a contraction in investor sentiment and greater price volatility. The market is again paying attention to the growing importance of risk management over returns.

MACHI BIG BROTHER IS DOWN TO HIS LAST $30,000 Machi Big Brother went from being up $44.84M to losing EVERYTHING. He is down a total of $75.19 MILLION in the past 6 months. Will he ever make it back? pic.twitter.com/lebBmrDpF1