A Hyperliquid trader with a 5x leveraged long position in Brent crude oil suffered a complete margin call.

CoinFeed reported on March 23 that, according to Lookonchain, a trader with the address 0xF35A opened a long position of 189,904 xyz:BRENTOIL contracts on Hyperliquid four days ago with an investment of approximately $20.19 million and a leverage ratio of 5x. The position was liquidated due to a drop in oil prices, resulting in a loss of approximately $3.21 million.