Big Brother Maqi Huang Licheng was liquidated while leveraging long ETH! Lost $74 million in 6 months, with only $8,500 remaining in Hyperliquid

Well-known crypto trader and early NFT investor Machi Big Brother (Huang Licheng) nearly lost everything in leveraged trading on the decentralized perpetual contract exchange Hyperliquid. According to the latest on-chain data platform Arkham, over the past six months, he has realized a total loss of up to $74 million from 25x leveraged long positions on Ethereum (ETH), with his account balance almost wiped out.

25x leverage bet on ETH fails as price drops from $4,700 to around $1,900

Data from Arkham shows that Huang Licheng began heavily building 25x leveraged long ETH positions on Hyperliquid starting September 2025. At that time, ETH was around $4,700, and the market was still in a relatively high-range consolidation.

However, the market quickly turned south. ETH prices plummeted, oscillating around $1,900 in early March 2026, with the latest quotes between $1,945 and $1,967. This means ETH has fallen over 50% from the entry point, and with 25x leverage, the losses have expanded geometrically.

High leverage strategies leave little room for error in a one-sided decline, and Huang clearly continued adding to his longs without timely stop-losses or switching strategies.

145 liquidations severely damaged the account, leaving only $8,500 in Hyperliquid

Latest updates from Arkham show Huang Licheng’s account balance on Hyperliquid has shrunk to about $8,500 (previously $6,600 at press time). Earlier reports indicated that after multiple partial liquidations, his funds once ranged between $9,000 and $10,000, but continued market weakness further eroded his capital.

Since the market crash in October 2025, Huang has experienced a total of 145 liquidation events. These include multiple full and partial liquidations, rapidly reducing his account from millions of dollars to nearly zero.

Currently, he only has one remaining leveraged ETH long position that is still in a floating loss. If ETH drops again, this position is likely to face further forced liquidation, which could wipe out his account entirely.

Some market observers speculated whether Huang might switch to shorting, hedging, or pause trading midway. However, on-chain data shows he continued maintaining his ETH long positions without any clear strategic shift, ultimately leading to almost complete liquidity depletion.

From nine-figure assets to massive losses, the NFT glow is gone

Huang Licheng was once famous for early investments in blue-chip NFTs, especially projects like Bored Ape Yacht Club, which generated substantial paper gains during the bull market, with his overall assets reaching nine figures in USD.

However, according to Arkham’s tracking data from mid-February 2026, his Hyperliquid account assets had already fallen below $1 million, with cumulative losses exceeding $28 million. As the market continued to deteriorate, losses rapidly expanded to the current $74 million.

Market reports also indicate that Huang recently added more funds to his positions, some of which may have come from previous NFT-related treasuries, such as PleasrDAO and other early investments. Yet, despite multiple top-ups, he could not reverse the trend of leveraged losses.

This trading not only wiped out part of his gains from the bull market but also resulted in a “negative profit” situation.

Currently, the market still allows real-time tracking of Huang Licheng’s positions via Arkham. The crypto community is highly attentive to whether he will reinvest or cut losses and exit.

However, with ETH prices still oscillating at low levels and macro market sentiment bearish, turning things around with only about $8,500 remaining in funds is extremely challenging.

This article, “Machi Big Brother Huang Licheng’s leveraged ETH long positions get liquidated! $74 million loss in 6 months, only $8,500 left in Hyperliquid,” first appeared on Chain News ABMedia.