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On-chain tracker Lookonchain reported that a wallet linked to Machi Big Brother grew $152,000 into $12.72 million within three days on Hyperliquid. Lookonchain calculated the gain at more than $12.5 million while major cryptocurrencies rallied.
The result followed a long record of forced closures linked to the trader’s leveraged positions. Perpetual contracts track asset prices without an expiry date, while margin lets traders control positions larger than their deposited funds.
The latest account snapshot placed Machi’s total equity near $12.9 million. His open long positions carried about $103 million in combined exposure. That amount exceeded the capital supporting the trades by almost eight times.
It tied the account closely to daily moves in Bitcoin, Ether, and HYPE. The portfolio figures represent a changing on-chain snapshot and can shift with prices, deposits, withdrawals, funding payments, or closed trades.
HypurrScan showed a $52.4 million Bitcoin long, a $44.9 million Ether long, and a $6.1 million HYPE long. Together, those positions reached roughly $103.4 million. The account held no offsetting short position and recorded a 14.41% margin ratio when HypurrScan captured the data.
Ether contributed heavily to the three-day change in account value. ETH rose almost 30% over seven days, while futures open interest reached $33.18 billion. Large exposure increases gains when prices rise. It also increases losses when the market falls. Futures open interest measures outstanding contracts, not the exact leverage traders use.
Lookonchain said Machi had faced nearly 500 liquidations before the latest profitable run. During one June period, the account recorded seven liquidations within ten hours after repeated entries into Ether longs. Earlier losses also came from ETH and PUMP positions during falling markets.
Arkham data previously placed his cumulative Hyperliquid losses at $80.43 million since September 2025. Machi added USDC several times to support positions near liquidation. He also sold Bored Ape Yacht Club NFTs while funding the strategy.
At one stage, his collection held 182 Bored Apes. The sales moved NFT value into available trading capital during the earlier losing period. Lookonchain later wrote, “He doesn’t need to sell his Bored Apes to keep his longs going anymore.” Machi later wrote on X, “I’m longing my longs.”
A DefiLlama snapshot placed Hyperliquid’s 24-hour perpetual futures volume at $12.19 billion on August 22. Total decentralized perpetual exchange volume reached $40.79 billion during that period. Hyperliquid therefore handled close to 30% of the market based on those figures. The platform also records positions and liquidations on-chain.
Hyperliquid begins liquidation when account equity falls below the required maintenance margin. The platform sets that level according to the contract and available leverage. Maximum leverage ranges from 3x to 40x. Maintenance requirements range from 16.7% to 1.25% of position value under those limits.
The exchange sends liquidation orders to the market for execution. For positions above 100,000 USDC, it initially sends 20% of the position. The system waits 30 seconds before sending another portion if liquidation remains necessary. Thus, a falling market can reduce collateral while forced sales close exposure in stages.
Machi’s roughly $103 million long book remained sensitive to price changes at the reported snapshot. A 1% move across the positions equaled about $1.03 million before fees, funding costs, and differing asset performance. The same arithmetic applied in either direction, while margin rules determined whether any adverse move triggered forced reductions.
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