A trader lost $2.788 million in 2 days trading BTC and ETH with high leverage on Hyperliquid

According to a report by Golden Finance, on chain analyst EmberCN, a trader on the Hyperliquid platform lost $2.788 million in two days through three highly leveraged trades. The specific operation includes: shorting 41851 Ethereum with 25 times leverage, with a position value of approximately $103 million and a loss of $2.46 million; Subsequently, with a leverage of 40 times, I went long by 166 bitcoins, with a position value of $17.6 million, resulting in a loss of $175000 within 45 minutes; Finally, 2636 ether coins were shorted at a leverage price of $2444, which was 25 times higher. However, due to the increase in positions, the liquidation price was lowered and the stop loss was imposed. The trader initially invested 2.96 million USDC, but ultimately only had 172000 USDC left.