Ethereum
Trader nets $1.28 million on new 1,000x exchange Papertrade by moving Hyperliquid’s ETH prices
The Block·October 11, 2026·1 min read
A trader on Papertrade, a new 1,000x perpetuals DEX built on Hyperliquid, netted $1.28 million by moving ETH prices, but later lost $450,000 when 30 short positions were liquidated Saturday night after staying open over three hours. The rapid gains and losses highlight the risks of high-leverage trading.
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