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Trader Nets $1.28 Million on New 1,000x Exchange Papertrade by Moving Hyperliquid’s ETH Prices

Summary by BizToc
The same wallet later lost $450,000 when 30 short positions were liquidated on Saturday night after staying open for more than three hours.
DisclaimerThis story is only covered by news sources that have yet to be evaluated by the independent media monitoring agencies we use to assess the quality and reliability of news outlets on our platform. Learn more here.

6 Articles

DiarioBitcoinDiarioBitcoin

One Portfolio Would Have Earned $1.28 Million After ETH Operations in Papertrade

A portfolio recorded gains of $1.28 million in Papertrade during the early hours of the exchange, which offers up to 1,000x of leverage. According to an analysis by The Block, the operator negotiated ETH in Hyperliquid while holding positions in Papertrade; then, the account suffered a settlement of about $450,000 and the protocol announced stricter limits.

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TokenPostTokenPost

Papertrade Loses $1.28 Million in First-Day ETH Price Attack

A wallet used Hyperliquid price moves and extreme leverage to profit from Papertrade’s liquidity pool shortly after the platform launched.

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Crypto BriefingCrypto Briefing

Trader nets over $1M on Papertrade's launch, then loses $450K

High leverage trading on Papertrade highlights risks of rapid gains and losses, impacting liquidity and staker rewards in volatile markets.

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BizTocBizToc
+2 Reposted by 2 other sources

Trader nets $1.28 million on new 1,000x exchange Papertrade by moving Hyperliquid’s ETH prices

The same wallet later lost $450,000 when 30 short positions were liquidated on Saturday night after staying open for more than three hours.

Read Full Article
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BizToc broke the news on Sunday, October 11, 2026.
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