A trader on decentralized exchange Hyperliquid, whose wallet was previously linked to the UXLINK exploit, launched a 16-hour algorithmic selloff to close open positions worth $148 million. The trader started the operation on November 9, with the algorithm scheduled to end at 06:00 GMT on November 10. The trader holds 30,282 ETH worth about $55.46 million, 550,000 SOL with 10x leverage, and 35.03 million XRP worth around $35 million. After recording a net gain of $5.71 million across five trades, the trader now faces a net loss of $3.3 million, with most funds at risk of liquidation. The selloff is already putting downward pressure on the prices of Ethereum, Solana, and XRP.
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