A major whale betting against crude oil lost 60% of their capital in two weeks, with an average weekly loss of $2.3 million.

BlockBeats news, on May 11, according to Hyperinsight monitoring, the Hyperliquid platform’s TOP 2 loss address in the past 7 days (0xebe) repeatedly traded against the trend in the crude oil market. Since entering on April 20, over the past half month they have opened a total of 4 short and 2 long crude oil positions, none of which were profitable. The total loss has exceeded $9.5 million, with more than $2.3 million of margin burned each week on average, accounting for nearly 60% of their net deposited funds.

On April 25, the address heavily invested in crude oil for the first time, then repeatedly switched directions, “chasing highs and selling lows.” From WTI to Brent, shorting at the top and longing at the bottom, in half a month the net deposited funds of $24.17 million were reduced to about $14.67 million.

As of press time, this address still holds a 20x leveraged Brent crude oil short position, with a size of $25 million, currently floating a loss of $370,000 and has not yet exited.