The "1011 insider whale" deposited 20 million USDC into Hyperliquid to avoid liquidation and is currently experiencing a paper loss of $83.4 million.

As the market declined, a "short-selling whale" that had been active after the 1011 flash crash deposited 20 million USDC into Hyperliquid to avoid liquidation. The whale now faces a floating loss of $83.4 million, funding costs of $8 million, and profits have fallen from $142.5 million to $9.7 million.