Machi Big Brother suffered a week-long loss of $1.42 million, cumulative losses of $29 million, and added 25x leveraged ETH long position without closing

Taiwanese celebrity Huang Licheng (Brother Magji) this week used 25x leverage to go long ETH on the Hyperliquid platform, suffering a loss of over $1.42 million in a single week. His cumulative losses have reached $28.66 million, with a win rate of zero.
(Background: Brother Magji was liquidated again, losing 870,000 USDT in two nights, and stubbornly reopened a 25x ETH long position.)
(Additional context: Uncle is very rich! Brother Magji has been liquidated 241 times, enough to film 7 “Kung Fu” movies.)

Table of Contents

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• This Week’s Liquidation Record: Multiple Liquidations Within Four Hours
• Account Data: A Long Position of $28.66 Million
• Logic of Not Leaving the Market: Depositing Funds, Increasing Positions, Repeated Liquidations

Loss of $1.42 million in one week, 0% win rate, maximum drawdown 99.12% — According to on-chain data from Hyperbot, Brother Magji (Huang Licheng) was again liquidated this week on Hyperliquid’s ETH perpetual contracts, with available margin reduced to zero. His total perpetual contract losses have now reached $28.66 million.

This Week’s Liquidation Record: Multiple Liquidations Within Four Hours

On-chain data shows that Huang Licheng recently increased his position in a few hours: he opened long positions in the $2,041 to $2,059 range, adding a total of 450 ETH. As the market declined, a series of liquidations was triggered.

The most severe: 1,088 ETH was forcibly liquidated at $2,030 (full liquidation), resulting in a single loss of $72,051. Earlier partial liquidations and reductions (540 ETH @ $2,079 losing over $9,300, 340 ETH @ $2,057 losing over $13,100, 272 ETH @ $2,044 losing over $14,000, etc.) have brought recent visible liquidation losses to over $120,000. Over the past week (including 850 trades), total losses exceed $1.42 million.

As of the time of the screenshot, the account’s free margin was $0, with a total position market value still at $1.02 million, and a leverage of 25.73x. This means that even a slight drop in ETH price could trigger further liquidations.

Account Data: A Long Position of $28.66 Million

Hyperbot data shows that Huang Licheng’s total historical loss on perpetual contracts (All Total PnL, Perp Only) has reached -$28,661,677, equivalent to NT$930 million.

Out of 850 trades, only 2 were fully closed, with a win rate of 0.00% this week and a maximum drawdown of 99.12%. This indicates a pattern of losing all margin in each wave before adding new funds to continue trading.

Compared to previous reports, Huang Licheng once briefly made a profit of $30 million during ETH’s rebound, but then lost it all back, even incurring deeper losses. Mainstream media outlets like Minshi, Zhongshi, and ETtoday have also reported on his repeated trading failures.

Logic of Not Leaving the Market: Depositing Funds, Increasing Positions, Repeated Liquidations

Recent trading patterns show that Huang Licheng has not stopped trading. Hours after this week’s liquidation, on-chain data still shows him gradually adding small amounts (25 ETH) to his position, maintaining a bullish outlook on ETH. This “liquidation → deposit → reopen long” cycle has been widely discussed in the Hyperliquid community, earning him labels like “Bull King” and “Liquidation King.”

Using high leverage to go long in volatile markets easily triggers a series of liquidations. ETH has recently fluctuated between $2,000 and $2,200, which is very unfavorable for high-leverage longs. With 25x leverage, a mere 4% drop in ETH price could wipe out the margin.