Cryptocurrencies experienced a sharp surge at the beginning of July, which had drastic consequences for one of the most well-known traders in the market. According to data reported by Finbold, a trader operating under the pseudonym Qwatio lost more than $334 million in just 3 hours. His short positions were forcibly liquidated immediately.

Cryptocurrencies cost the trader $300 million

From a publicly accessible crypto wallet (address: 0x916E), based on data from Lookonchain, it appears that he had opened extensive positions against the market (shorts):

• 1,743 Bitcoins (BTC) worth approximately $211 million
• 33,743 Ethereum (ETH) worth $102.3 million
• 15 million Fartcoins worth $20.6 million

Gambler @qwatio‘s massive short positions worth $334M were fully liquidated in just 3 hours, including: 1,743 $BTC ($211M), 33,743 $ETH ($102.3M), and 15M $FARTCOIN ($20.6M).

His wallet (0x916E) is now down nearly $25.84M in total losses. https://t.co/RwVCmLe4rK pic.twitter.com/Ed1jXyaYEY

— Lookonchain (@lookonchain) July 14, 2025

The cause of the losses was a sharp rise in Bitcoin, which jumped to a new all-time high of over $123,000. When the price of an asset rises against a short position, the margin shrinks, and if it crosses the risk threshold, the exchange automatically closes the position—forcing the trader to buy back at a higher price, which amplifies the loss.

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Qwatio’s trading raises questions

This collapse was not Qwatio’s first. Just two days earlier, he had suffered another round of liquidations. At that time, he lost:

• 458 BTC ($55 million)
• 12,147 ETH ($36.55 million)
• 5.4 million FARTCOINs ($7.33 million)

After that loss, Qwatio re-entered the market, making him a highly watched participant in the crypto space. Some see him as a bold visionary who takes risks in grand style, while others view him as a cautionary tale about the danger of overestimating one’s abilities.

According to IntoTheBlock, every Bitcoin holder is currently in profit. But as you can see, there are many cases where people lost money even though Bitcoin, according to TradingView, reached an all-time high. In shorting, you don’t own Bitcoin—you’re only speculating on its decline. Therefore, these traders are not counted in the statistics of Bitcoin holders, and their losses are not reflected in that data.

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