James Wynn’s “Loss Persona” KOL meticulously orchestrated hedging operation: Surface liquidation loss, actually hidden profits
In the world of cryptocurrency, identity and funds can often be easily hidden, but trading records do not lie. This article is sourced from an article by @dethective, compiled, translated, and written by Ismay from BlockBeats.
(Previous Summary: Mysterious whale goes long on Bitcoin with 20 times leverage, loses three billion USD, anonymous return of James Wynn?)
(Background Supplement: James Wynn: Bitcoin market share will reach a new high, rising to at least 120,000 to 140,000 USD to usher in the altcoin season)
This hidden account has never been liquidated.
I found the Hyperliquid account used by James Wynn, and he has been betting against himself.
Long on Bitcoin on one side
Short on Bitcoin on the other side
This has been a suspicion for a while, and now I have concrete evidence.
How did I find this wallet?
I noticed that James earned $44,000 through referral commissions, with $16,000 coming from a single wallet, which had a trading volume of up to $1 billion;
More crucially, this wallet was registered before James started sharing referral links.
Just a coincidence?
Upon further analysis of the trading activities, these two wallets traded almost the same set of tokens.
Another coincidence?
Next, a deep dive into Bitcoin trading. Everyone knows he became famous through a series of crazy Bitcoin trades.
I marked the trades of the two accounts on the chart:
Representing trades of the hidden account
Representing trades of the public account
You can see they always stand on opposite sides.
On that hidden account, he is making money, yes, this account has no liquidation records.
The current profit on the books is up to $4.2 million.
Current holding situation: He is currently long on ETH with 25 times leverage.
Interestingly, this operation is almost identical to the trades of his friend Andrew Tate.
As suspected all along, he didn’t actually lose much money, and now we finally have evidence. But the problem is—his “tragic loss persona” has become a very effective marketing tool.
Now he has:
370,000 fans
2360 “smart fans” (please, stop following him)
Yaps that he couldn’t earn in a lifetime
All of this has given him enough “reputation” to market his own meme coin, sell courses, and even find ways to continue monetizing.
Whenever something like this goes viral online, I always see the same comment:
“He didn’t lose $90 million, and now he’s only making $4 million?”
Let me explain:
He didn’t lose $90 million. That was just the unrealized profit he reached at one point during the day, not the actual money he received.
While his main account showed a profit of $90 million, other accounts were actually losing money (this is the basic principle of hedging).
Yes, the scale of hedging positions may not be exactly the same, I agree.
If he placed this order on Hyperliquid, he likely did the same operation on other platforms (such as Binance where he often transfers funds).
He became popular because everyone saw that exaggerated “90 million USD” figure and believed it just by looking at the title.
If we judge a trade based on “highest unrealized profit,” then frankly, almost everyone has “lost” millions at some point.
Watching those with strong backgrounds and experience being easily fooled by this emotional marketing only proves—that trick is indeed very effective.
