How One Trader Turned Panic Into $192M Profit

October 24, 2025

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How an anonymous wallet profited from the crypto chaos

An anonymous wallet (0xb317) on the Hyperliquid derivatives exchange reportedly earned a $192-million profit within just a few hours during a period of sharp market volatility.

As Bitcoin ( data-ct-non-breakable=”null” href=”https://cointelegraph.com/bitcoin-price”>BTC) and Ether ( data-ct-non-breakable=”null” href=”https://cointelegraph.com/ethereum-price”>ETH) prices fell sharply, many traders were hit with liquidations that erased more than $1 billion in leveraged positions. During the sell-off, one trader managed to time a data-ct-non-breakable=”null” href=”https://cointelegraph.com/explained/long-and-short-positions-explained”>short that paid off in a big way. Whether it was luck, timing or experience isn’t clear.

The data-ct-non-breakable=”null” href=”https://cointelegraph.com/explained/crypto-wallets-explained”>wallet’s timing, just…

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