- James Wynn lost $1.3M in BTC long liquidations after the price dipped below $106K, pushing leverage beyond safe thresholds.
- Wynn’s trading position saw a -58.83% ROE drawdown with no hedge, exposing a $20.5M loss across his Hyperliquid account.
- Arkham data links Wynn’s wallet to hundreds of DeFi protocols, yet recent transfers show capital drained or off-ramped.
Two major Bitcoin liquidations struck trader James Wynn on July 1, wiping out over $1.3 million. The forced closures occurred as BTC dropped below key support, triggering margin calls on highly leveraged long positions.
Liquidations Strike at $106K as BTC Breaks Lower
James Wynn was partially liquidated for 4.59 BTC worth $486,000 on July 1, Lookonchain stated in an update. The liquidation followed BTC’s decline to $105,812, while Wynn’s entry was set at $107,439. With 40x leverage applied, margin levels collapsed as price neared the $105,503.76 liquidation threshold.
Just minutes later, Wynn was hit with another liquidation totaling $800,000, according to a post by Arkham. These trades closed between $105,812 and $106,113, bringing total liquidated volume to over 4.58 BTC. The realized loss from the trades amounted to $7,033.87 in USDC.
Trading Terminal and PnL Data Reveal Deep Losses
The Hyperliquid trading dashboard showed Wynn’s BTC long position at $863,973.83 with no offsetting short exposure. Entry stood at $107,439.10, while BTC traded at $105,865.00, creating a $12,706.31 unrealized loss. Liquidation hovered just $360 away, flagging a 58.83% ROE drawdown.
His total account equity was down to $13,847.41, with margin usage at 155.98% in red. Moreover, cumulative PnL marked a staggering -$20.5 million. No hedge or risk reduction tools appeared active, intensifying exposure during volatility.
Arkham Data Shows Broad Wallet Activity and DeFi Ties
According to a report by Arkham, Wynn’s Hyperliquid-linked wallet had moved over $20,000 in USDC across protocols in three days. Transfers passed through Socket Gateway and Hyperliquid Bridge2, with some inflows traced to relayer wallets and the Null Address. A $204.66 USDC fee sent to Coinbase suggested fiat off-ramping or settlement.
Arkham’s wallet network map displayed hundreds of active connections from Wynn’s main wallet. Links to CEXs, DeFi contracts, bridges, and smart tools confirmed a deeply embedded trader. Notable activity spikes occurred between May and early June, hinting at heavy cross-chain deployments.
Portfolio Shrinks as Capital Depletes Post-Liquidation
The Arkham dashboard showed Wynn’s portfolio now holds just $4,008.98 across USDC, WSTETH, USDT, and ETH. Previous inflow data from April and May confirmed higher balances, now seemingly withdrawn or lost. Despite Hyperliquid activity, exposure is now minimal and remains entirely directional toward BTC longs.
