Trader Jeffrey Huang, better known by his online handle Machi Big Brother, sold another Bored Ape Yacht Club NFT this week to keep his leveraged Ethereum position alive on Hyperliquid. On-chain monitor Lookonchain tracked the sale of Bored Ape #5715 for 8.3 ETH, worth about $15,570 — a steep drop from the 34.17 ETH he paid for the same NFT roughly three years ago. The trader also withdrew just 1,540 USDC from Binance, a modest sum that underscores how thin his available capital has become.
The sale is the latest in a long-running pattern. Huang has earned the nickname “King of Crypto Liquidations” after racking up more than 240 separate liquidations on Hyperliquid over roughly six months of repeated 25x-to-40x leveraged ETH longs, with losses over that stretch estimated near $75 million. Rather than closing the position after each liquidation, he has repeatedly topped it back up — often, as with this latest sale, by liquidating pieces of his once-substantial NFT collection.
A Bored Ape Collection Bleeding Out
The BAYC sale isn't an isolated event either. Over the past month alone, Huang has sold 34 Bored Apes for a combined 326 ETH, realizing a net loss of roughly 399 ETH against his original purchase prices — a collection built during the 2021-2022 NFT boom now being liquidated piece by piece to fund a leveraged derivatives bet that keeps going against him. Onchain trackers like HypurrScan let anyone follow his current position and liquidation levels in real time, turning what might otherwise be a private trading disaster into a running public spectacle.
Why the Story Keeps Repeating
What makes the pattern notable isn't any single liquidation but the persistence behind it: rather than de-risking after heavy losses, Huang has continued re-entering leveraged ETH longs, funding fresh margin with whatever liquid assets remain, NFTs included. With his current position now reportedly down to a low five-figure balance, the trade has become something of a cautionary tale for the risks of high-leverage perpetuals trading, watched in close to real time by an onchain audience that has turned his account into one of the most closely tracked in crypto.
