**High Leverage and Despair: How an On-Chain Whale Went from $60 Million to Zero in 47 Days**

In the world of crypto trading, the story of Big Brother Maji is not an isolated case. This former whale trader, Huang Licheng, used a five-month high leverage gamble to deliver a brutal lesson on risk management to the entire community.

**From Peak to Abyss: 47 Days of Free Fall**

Rewinding to September 18th, Big Brother Maji reached the pinnacle of his career on the Hyperliquid platform—his account assets nearly $60 million, with unrealized gains of $44.84 million. At this moment, he was like the brightest lighthouse on the chain, attracting countless eyes. However, markets are never gentle to anyone.

By mid-October, a market crash arrived as expected. Under continuous downward pressure, Big Brother Maji chose a risky path—repeatedly adding to his position and holding through the decline. This decision ignited the fuse of the high leverage death spiral: market drops trigger liquidation warnings → add to position → drop further → chain liquidation. The red alert signals on Hyperliquid sounded nonstop, and a liquidation storm ruthlessly swept through his entire portfolio.

By November 4th, with only $16,700 remaining in his account, Big Brother Maji refused to give up. He used this capital to open a 25x leveraged long position with 100 ETH. Less than 24 hours later, in the early morning of November 5th, liquidation struck again, and his account balance fell to $1,718. Everything went to zero.

**Why is high leverage so deadly?**

Big Brother Maji’s failure stemmed from a simple yet fatal combination: 25x high leverage + heavy long positions + repeated adding during a downtrend. Under extreme market volatility, these three factors stacked to form an almost inescapable trap.

High leverage amplifies gains but also proportionally increases risks. When price fluctuations exceed the margin rate, the platform’s automatic liquidation mechanism ruthlessly executes. During panic selling, adding to positions—seemingly a "bottom-fishing" move—actually fuels the fire. Each addition lowers the average cost but also consumes the limited risk buffer.

**Lessons from the market**

From steady profits in June, to a peak of $60 million in September, and then to total loss in November—this complete trading arc reveals a truth ignored by many traders: building profits is much easier than avoiding failure, and a single misjudgment can destroy years of accumulation.

On social media, Big Brother Maji left a phrase: "Just be happy." This is both a tribute to past glory and a helpless reflection on his trading decisions. Similar stories unfold every day in the crypto market; different protagonists, but the plot is surprisingly similar—high leverage, adding to positions, and going to zero.

For traders dealing with ETH and other assets, Big Brother Maji’s story is a mirror. It reminds every market participant: no matter how large your account or how glorious your past achievements, everyone is equal before the market. And those seemingly invincible leverages will ultimately become your judge.