# Wallet Opens $25.4 Million 40x Leveraged Bitcoin Short

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/28983
Published: 2026-10-09T13:14:02.000Z
Updated: 2026-10-09T13:14:02.000Z
Section: Investing

> The wallet sold 262.78 Ether for $643,000 in USDC before depositing the funds on Hyperliquid and taking a 40x leveraged position.

A wallet flagged as potentially linked to a hacker opened a 40x leveraged short position on Bitcoin (BTC) with a notional value of $25.4 million, creating a significant on-chain derivatives trade.

The wallet sold 262.78 Ether (ETH) for about $643,000 in USDC and deposited the stablecoins on Hyperliquid, a crypto derivatives platform. It then used the funds to short 305.51 BTC.

The position’s liquidation price is $84,086.03 per BTC. The activity was flagged at 9:09 a.m. ET (13:09 UTC) on Oct. 9.

The activity involved moving from ETH to USDC and then opening a leveraged Bitcoin short on Hyperliquid.