Crypto Trader Made $900K After CEX’s Attempt to Kill Hyperliquid Failed

09 Apr, 2025

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Expertise : Crypto News & Market Analysis, Content Strategy & SEO Writing

Pooja Khardia is a seasoned crypto content writer with 6+ years of experience in writing, including in blockchain, cryptocurrency, DeFi, and digital finance reporting. In her adventure journey, she is currently working with CoinGape Media and leading their Trending Section. Here, she uses her expertise to deliver analytics, market insights, price predictions, and information on what’s trending in the crypto space, aiming to keep the crypto and web3 community updated with market trends and important insights. Known for a user-centric and straightforward writing style, Pooja is passionate about making crypto easy and accessible. Her writing blends market research with storytelling, helping readers stay ahead in a fast-paced industry. When not behind the keyboard, Pooja embraces her creative side through drawing and crafting. Connect with Pooja on LinkedIn or X.

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Crypto Trader Made $900K After CEX's Attempt to Kill Hyperliquid Failed

Highlights

Crypto trader risks long trades with 3x leverage, making $840k in unrealized profits.
With a 20% surge in HYPE token price, the trader made heavy returns despite the crypto market turmoil.
Hyperliquid token recovers despite CEX's alleged kill attempts.

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The odds of a crypto trader making heavy profits, especially in the ongoing turbulent market, are low. However, one individual made the right bet, making $900k (accurately $840k) as the HYPE token price recovered from the crash. More significantly, the Hyperliquid exchange behind HYPE faced controversies over security, but things are settling. Let’s discuss.

Crypto Trader Bets on Hyperliquid Price Surge, Making $900k

According to the Lookonchain X post, an anonymous crypto trader positioned its trades on the perpetual future and used 3x leverage to make returns. Interestingly, they ended up with $840k in unrealized profits. The individual entered at $11.3667 while holding 858,832.29 HYPE despite the crypto market crash.

Once the Hyperliquid price surged to $12.415 after its earlier crash amid whales’ liquidation events, the trader ended up with a $840k unrealized profit.

Interestingly, the crypto investor has still not closed the trade and is awaiting further returns, as the HYPE price is moving up after centralized exchanges’ (CEX) attempts to ruin its image failed.

If the price declines to $3.2477, the individual can face liquidation. For now, they are safe as the price is relatively high, currently at $12.47.

Hyperliquid Survives the Alleged CEX Kill Attempts

Hyperliquid is among the best crypto exchanges, especially in decentralized platforms. Its popularity fueled the HYPE token price, resulting in it hitting an ATH of $35.02 four months ago.

However, this changed as whales deliberately removed collateral mid-trade, putting all the loss on the platform and crashing the token.

With many more such events, a few crypto experts allegedly blamed the former Binance founder CZ and the centralized exchange (CEX) for trying to kill off this decentralized platform due to competition.

Notably, this is just an unproven speculation, but the token’s price remained down, especially as Donald Trump’s tariff crashed the crypto market. As the market attempted recovery and the exchange implemented new risk policy, the HYPE token price surged 20% from the dip, benefitting the aforementioned crypto trader.

It is attempting further recovery, but uncertainty remains amid Trump’s tariff implementation.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Frequently Asked Questions (FAQs)

1. How does this crypto trader earn $840k?

The crypto trader made their bets on leverage, making $840k once the HYPE token price increased.

2. Why is the CEX attempting to kill Hyperliquid?

Due to frequent whale attacks, experts allegedly anticipated that the CEXs were attempting to kill Hyperliquid due to its rising popularity.

3. Why is HYPE token's price rising?

The surge in HYPE token price is due to global crypto market recovery, new security policy, and recovering investor trust in the platform.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.