A leveraged Ethereum account, publicly identified by Lookonchain as belonging to Machi Big Brother, underwent a significant month-long reduction that coincided with the sale of three Bored Ape NFTs at substantial losses. Data from the trading venue on August 14 confirmed the ETH long position had been more than halved, yet the account's liquidation threshold remained dangerously near the market price.

A Precarious Position

A snapshot from Hyperliquid's public Info API at 3:51:43 p.m. UTC on that day revealed the address maintained a 2,500 ETH long position with a 25x leverage setting. The account's liquidation price was listed at $1,859.15. Just 14 seconds later, Hyperliquid's midpoint price for ETH stood at $1,881.65, leaving only a $22.50 buffer—meaning the market was a mere 1.21% above the trade's liquidation point.

This 2,500 ETH position represented a 52.51% decrease from the 5,264 ETH long position that Lookonchain had noted on July 14. Over the same period, the liquidation price had climbed by $102.39 from its previous level of $1,756.76. These figures indicate that while the trader's exposure was reduced, it did not translate into a safer margin against market downturns.

The public attribution of this address is supported by on-chain data. Etherscan labels the address as machibigbrother.eth, and HypurrScan provides an account page for the identical hexadecimal address, corroborating the identification used by Lookonchain. It is important to note, however, that this explorer data does not definitively prove personal control by Jeffrey Huang at all times, nor does it offer insight into his broader financial situation.

Unpacking the Position Changes

The sequence of events becomes clearer when analyzing data points frozen at their specific observation times.

Hyperliquid's own fill data confirms three separate close-long transactions on July 31. At 1:47:16 p.m. UTC, 700 ETH was closed, followed by 560 ETH at 2:04:59 p.m., and another 448 ETH at 2:06:57 p.m. These actions amounted to a total reduction of 1,708 ETH and generated an aggregate negative closed profit and loss of approximately $96,301. This direct data validates the size, timing, and financial loss of the closures. A later snapshot showing a sub-$100,000 account balance and a $1,843.40 liquidation price is based on the tracker's subsequent post.

Between the July 14 report and that later snapshot, the position decreased from 5,264 ETH to 2,800 ETH, a 46.81% reduction. During this time, the liquidation price rose by exactly $106.32, moving from $1,756.76 to $1,863.08.

By the next day, the long position was 52.51% smaller than its July peak, while the liquidation price was $102.39 higher than the July 14 baseline. In the 24 hours following Lookonchain's final post on the matter, the long position shrank by an additional 300 ETH, and the liquidation price decreased slightly by $3.93.

Costly Bored Ape Sales

Lookonchain reported that these adjustments were funded by NFT sales. On July 14, Bored Ape #251 was sold, realizing a loss of 6.99 ETH. An Aug. 5 post from the analytics firm showed that Bored Ape #5670 was sold for 9 ETH after an initial purchase of 84.99 ETH, marking a staggering 75.99 ETH loss, or 89.4% in ETH terms.

Then, on August 13, Lookonchain reported the sale of Bored Ape #5715 for 8.3 ETH. This NFT had been acquired for 34.17 ETH, resulting in a loss of 25.87 ETH.

While Lookonchain framed these sales as attempts to bolster the Ethereum long, a complete on-chain trail directly connecting the buyer's payment to the specific Hyperliquid address is not publicly available. The reported NFT sales and the stress on the trading account form a correlated sequence of events, but the precise impact of any single sale on the position's survival or liquidation price remains undetermined.

The risk associated with the account did not decrease in direct proportion to the NFT sales. The liquidation price actually increased as the long position was reduced through August 13, only to edge lower after another 300 ETH was removed from the position by August 14. This shows that the account's risk threshold is influenced by factors beyond just the position's size or proceeds from a single visible asset sale.

Ultimately, these events demonstrate why converting an NFT into fungible currency does not automatically secure a leveraged trading position. Regardless of where the funds from the sales were directed, the most recent timestamped data revealed a 2,500 ETH long with the market price hovering just 1.21% above its liquidation trigger. This 1.21% figure represents a momentary gap; prices, fills, and account equity are subject to immediate change, meaning the position's status may have already shifted.