Eight Liquidations One Week and Twelve Million Gone

A crypto trader known as qwatio has lost $12.5 million after being liquidated eight times in just one week, according to data from blockchain analytics firm Lookonchain.

The most recent loss happened on Monday when qwatio was partially liquidated on a 25x leveraged Ethereum (ETH) position. The position had a new liquidation price of $2,534, while ETH has been trading between $2,425 and $2,519 in the past 24 hours just below the danger zone.

Qwatio is no stranger to high-risk trades. In March, he made headlines after turning a huge profit of $6.8 million by using 50x leverage to go long on both Bitcoin and Ether. The timing was perfect, as the trade was placed just before U.S. President Donald Trump announced the creation of a national crypto reserve, which caused prices to surge.

That same month, qwatio opened another bold position $3.46 million on First Lady Melania Trump’s memecoin, MELANIA, again using 50x leverage. He also successfully defended a 40x leveraged Bitcoin trade by adding more funds to avoid liquidation when large traders tried to force him out of the market.

However, recent trades haven’t been as successful. Over the past week, qwatio’s highly leveraged bets have repeatedly gone against him, resulting in multiple liquidations and steep losses.

Meanwhile, another well-known crypto figure, James Wynn, has also returned to active trading. Wynn, who once lost over $1 billion in crypto, opened a 40x leveraged short position on Bitcoin worth $37,000. He quickly closed that trade and went long instead as Bitcoin hovered around $107,250. Wynn has faced several large losses this year, including $100 million in May and $25 million earlier this month.

While some traders continue to take huge risks, others are finding quieter success. A lesser-known trader recently turned just $6,800 into $1.5 million over two weeks by providing liquidity on a major exchange without using leverage.

Qwatio’s story is a reminder of the dangers of over-leveraging. While it can lead to quick profits, it also carries the risk of rapid and severe losses, especially in a market as volatile as crypto.