The high-stakes world of cryptocurrency trading has once again witnessed the dramatic downfall of James Wynn, a pseudonymous trader notorious for his audacious leveraged positions. After declaring his return with a "thirst for revenge" to reclaim lost fortunes, Wynn found himself liquidated for a staggering $4.8 million just a single day after opening new bets, underscoring the extreme volatility and risks inherent in such aggressive trading strategies.
The Latest Meltdown
Wynn's recent liquidation, highlighted by blockchain analytics firm Lookonchain, saw him lose approximately $4.8 million. On Tuesday, he opened several highly leveraged positions using a mere $197,000 in stablecoins. These included a 40x long position on 34 Bitcoin valued at $3.85 million, a 10x long on 122 million KingPepe (kPEPE) memecoins worth $917,000, and a 10x position on 712 Hyperliquid (HYPE) tokens. By Wednesday, nearly all of this capital was wiped out, leaving his associated wallet with a meager $63,133 balance and cementing his reputation for rapid, catastrophic losses.
A Pattern of High-Stakes Losses
This latest event is far from an isolated incident for Wynn, who has gained considerable notoriety within the crypto community for his habit of both winning and losing hundreds of millions of dollars through leveraged perpetual futures contracts. His most prominent previous incident occurred in May, when he faced a colossal $100 million liquidation after Bitcoin's price plummeted. Undeterred, he reportedly returned days later with another $100 million leveraged BTC order, even after appealing to his social media followers for donations. This second massive position also met the same fate, leading him to temporarily deactivate his social media and take a brief hiatus, only to re-emerge for another swift defeat. Wynn's repeated experiences serve as a stark reminder of the disproportionate risks and often devastating outcomes associated with high-leverage crypto trading.
