TechFlame reported that on August 18, according to monitoring by the on-chain analytics platform Lookonchain (@lookonchain), wallet address 0x89DA closed 21,683 Ethereum (approximately US$93.5 million) long positions on the Hyperliquid platform, resulting in a loss of approximately $6.6 million. The address then pulled all of its 9.6 million USDC from the Hyperliquid platform