Wintermute's $146M Short Trap: How One Market Maker Liquidated $100M of Longs in 60 Minutes
LeoWhale
The liquidation cascade hit at 03:47 UTC. In sixty minutes, $100 million in long positions vaporized across BTC and ETH. Not from a black swan. Not from a hack. From a single market maker who had positioned $146 million in net shorts on Hyperliquid while simultaneously draining BTC and SOL into Binance and Coinbase spot wallets. The market doesn't announce its attackers. You have to read the order book.