A recent crypto market downturn has resulted in a historical wave of liquidations on decentralized exchange Hyperliquid, wiping out over $1.23 billion in trader positions within 24 hours. Blockchain analytics firm Lookonchain reported that more than 6,300 wallets ended in the red, with over 1,000 accounts losing their entire balances, reflecting a severe impact of leveraged trading. 😱 The data reveals the severity of these losses: four traders saw their accounts completely erased, each losing between $10 million to $18 million. Notably, wallet 0x1a67 suffered a complete liquidation worth $18.73 million and others like 0x0a07 and 0x1d52 were left with less than $150 after sustaining losses exceeding $15 million. Blockchain data confirms these traders held highly leveraged long positions during the market crash.