According to Lookonchain, a crypto trader deposited $5.08 million into Hyperliquid and shorted Ethereum (ETH) using maximum leverage of 25x, ultimately losing $4.77 million in under 8 hours and reducing his account balance to just $310,000 (source: x.com/lookonchain). This highlights the significant risks of high-leverage trading in volatile markets and underscores the importance of robust risk management for ETH and crypto derivatives traders.