More than 1,000 wallets on the Hyperliquid platform were completely wiped out during the recent market downturn, resulting in combined user losses exceeding $1.23 billion.
According to analysts at Lookonchain, the massive sell-off in the early hours of October 11 triggered a wave of liquidations, erasing funds from over 1,000 accounts. Among the hardest-hit:
- 205 wallets lost more than $1 million each.
- Over 1,070 wallets suffered losses close to $100,000.
The four largest individual losses were staggering: one trader lost $18.73 million, another $16.43 million, leaving just $140 in their account. Additional major losses included $15.69 million and $13.72 million, with one account fully depleted.
Overall, more than 6,300 addresses ended the crash in the red. The episode marks one of the largest liquidation events in crypto history, with over $19 billion wiped out across the market. The Fear & Greed Index fell to 35, reflecting the widespread correction.
