On-chain trackers said Huang Licheng, known in the market as Machi Big Brother, cut back his ETH long exposure again as crypto prices slid over the past hour. Data cited from HyperInsight and Hyperbot shows he reduced 1,625 ETH from the position within roughly half an hour to an hour. At publication time, his 25x leveraged ETH long on Hyperliquid had fallen to 3,000 ETH, while his cumulative losses on the platform reached $25.32 million.
Rapid position cut during the latest sell-off
The report said the broader crypto market saw another sharp decline tonight, putting Huang’s leveraged trade back in focus. His ETH long had previously stood at about 4,625 ETH. As the market accelerated lower, he trimmed a large part of the position in a short window, reducing the overall size of his exposure on Hyperliquid but still keeping a sizable 25x long open.
High leverage keeps the account under pressure
Huang has been known for taking aggressive ETH longs on Hyperliquid with leverage ranging from 15x to 25x. The notional value of those trades often runs into the tens of millions of dollars, while the margin posted is relatively small. That structure can magnify gains in a rising market, but losses also build quickly during reversals. According to figures cited from Lookonchain, Huang has faced more than 250 liquidations since 2025, and his losses on Hyperliquid over the past four months were close to $71 million.
A recently rebuilt bet is now under strain
The source material said Huang had only recently rebuilt an ETH long worth about $34 million, backed by margin of less than $2 million. With the market weakening again, the room for that kind of leveraged trade has narrowed fast. The report also noted that his account assets once peaked at about $50.39 million in September 2025, before shrinking sharply after repeated liquidations. Based on the current position structure, another drop in ETH could expose the trade to fresh partial liquidations.