Read this article on bsc.news Crypto trader Jeffrey Huang, widely known as Machi Big Brother (@machibigbrother), has been liquidated more than 2,100 times on the @papertrade_xyz platform, acc
Crypto trader Jeffrey Huang, widely known as Machi Big Brother (@machibigbrother), has been liquidated more than 2,100 times on the @papertrade_xyz platform, according to on-chain analytics firm @lookonchain. Cumulative trading losses on the platform have reached $2.22 million.
Coinness describes Papertrade as a new perpetual futures decentralised exchange built on Hyperliquid, where Huang has become a closely watched participant.
Papertrade launched on Oct. 10 on Hyperliquid and offers synthetic perpetual contracts, with advertised leverage of up to 1,000 times.According to TokenPost, the platform acts as the counterparty to positions and mints PAPER when users realize losses or are liquidated, with larger losses tied to larger rewards.
That reward structure offsets part of the damage. By Nov. 13, the account had received about $514,000 in platform rewards, leaving an estimated net loss of $1.71 million, TokenPost reported.The historical loss total also includes losing trades that did not end in liquidation.
The latest figures follow a sharp rise in recorded losses over a few days. On Nov. 9, Lookonchain data showed Huang was fully liquidated again during a market downturn, after which he moved about $16,600 from his Hyperliquid account to Papertrade to keep trading.At that point, his Papertrade losses stood at $1.62 million, and rewards of about $485,000 left a cumulative loss of around $1.14 million.TokenPost reported he had $4,517.70 left on Hyperliquid after losing all funds on Papertrade.
The Papertrade losses are small next to his earlier record on Hyperliquid. Over the six months to March 2026, Huang recorded cumulative realized losses of $75.19 million on Hyperliquid, with more than 335 liquidations in total, according to DailyCoin.That included 262 forced closures in January 2026 alone, earning him the nickname "Liquidation King" in the crypto community, Crypto Economy reported.
His activity has drawn attention because his positions are publicly tracked on-chain. Much of his earlier exposure was in leveraged $ETH longs. Coinfomania reported that a February liquidation followed a series of aggressive high-leverage ETH long positions.
The Papertrade figures come from on-chain monitoring and platform data, and totals may change as Huang continues to trade. Leveraged perpetual futures carry high risk, and repeated liquidations show how quickly positions can be wiped out when markets move against them.
TokenPost: Machibigbrother adds NFTs to MachiPool draws, Papertrade recordPANews: Huang Licheng liquidated over 2,100 times on papertrade.xyzDailyCoin: Machi Big Brother loses $75M in leveraged trading collapse
