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Trader nets $1.28 million on new 1,000x exchange Papertrade by moving Hyperliquid’s ETH prices

Written and edited by the WorldPing NewsdeskPublished Updated Original reporting: The Block
Trader nets $1.28 million on new 1,000x exchange Papertrade by moving Hyperliquid’s ETH pricesWorldPing
Image via The Block.

What happened

The same wallet later lost $450,000 when 30 short positions were liquidated on Saturday night after staying open for more than three hours.

Key facts

  • The same wallet later lost $450,000 when 30 short positions were liquidated on Saturday night after staying open for more than three hours.
  • Reported by The Block and published Sun, 11 Oct 2026 22:26:02 UTC.

Why it matters

Digital-asset markets react to catalysts within minutes, and liquidity, ETF flows and regulatory signals are usually what decide whether a move sticks.

What to watch next

  • Whether spot volume and open interest confirm the move
  • Liquidation clusters around the current price
  • ETF flow data and any regulatory follow-up

Coverage timeline

When each newsroom published on this story, oldest first — all times UTC.

  1. Russia’s Moscow Exchange Pilots Crypto Trading for December Launch

  2. Papertrade’s Wild Weekend Ends With 93.7% Open Interest Wipeout

  3. Trader nets $1.28 million on new 1,000x exchange Papertrade by moving Hyperliquid’s ETH prices

Sources

The original report was published by The Block. WorldPing does not claim that reporting — this page summarises and contextualises it.

Read the full report at The Block

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