Approximately $45.3 million ETH long position: address linke
On November 9, the Ethereum market saw both a large long-position liquidation and whale accumulation at low prices. PeckShield disclosed that an address suspected to be linked to the UXLINK attacker holds approximately $45.3 million in ETH long positions on Hyperliquid, using 15x cross-margin leverage, with an average entry price of about $2,134.45.
Event Timeline
- [11-09 00:13] A whale's ETH long position worth $54.46 million was liquidated (Odaily 星球日报)
- [11-09 02:50] Two addresses bought a combined 13,500 ETH, worth about $29.08 million (PANews)
- [11-09 10:35] An address suspected to be linked to the UXLINK hacker opened an ETH long position worth about $45.3 million on Hyperliquid (PANews)
- [11-09 10:36] An ETH long position worth about $45.3 million is held with 15x cross-margin leverage on Hyperliquid by an address suspected to be related to the UXLINK attacker (Odaily 星球日报)
Background and Impact
In the early hours of November 9, two types of on-chain actions — liquidation and accumulation — appeared in succession in the Ethereum market. According to monitoring by Odaily 星球日报 at 00:13, the ETH long position of address 0x0392a716dbee1661ea781881826b928daeb5d7d9 was liquidated, with a liquidation amount of about $54.46 million; the address currently has no ETH position. About two and a half hours later, PANews, citing Lookonchain data, reported that multiple whales bought ETH on the dip amid the market crash: wallet address 0xFD10 borrowed 22 million USDT from Aave, then used 21.55 million USDT to buy 10,000 ETH at a price of $2,155; wallet address 0x4AB7 withdrew 3,500 ETH (worth $7.53 million) from Binance 10 minutes earlier, and over the past week the address had withdrawn a cumulative total of 16,577 ETH (worth $37.5 million). Under the PANews headline framing, the two addresses bought a combined 13,500 ETH, worth about $29.08 million.
At 10:35 and 10:36 that day, PANews and Odaily 星球日报 successively cited PeckShield monitoring in disclosing that an address suspected to be related to the UXLINK attacker (0xDE8d9...d9524) currently holds about 21,550 ETH in long positions on Hyperliquid, worth about $45.3 million, with an average entry price of about $2,134.45, using 15x cross-margin leverage. The address had previously received 11 million USDC from another address (0x35Eb7...5D43). The two sources are consistent in their descriptions of the position size, average price, leverage multiple, and source of funds.
It is worth noting that information during the same period was not consistent: on one side, an ETH long position of about $54.46 million was liquidated and exited; on the other side, whales bought at lows and established a long position of about $45.3 million. The market direction is not answered by any single data point. There are also reservations at the characterization level — PeckShield's wording is "suspected to be related to the UXLINK attacker," and the material does not disclose further forensic details; there is a difference between 0xFD10's purchase price of $2,155 and the long position's average entry price of $2,134.45, and based on existing information it cannot be determined whether the two are the same batch of funds or whether there is a take-over relationship, and as of publication there was also no additional statement on UXLINK-related funds being frozen or recovered.
In terms of impact, the $45.3 million ETH long position held with 15x cross-margin leverage on Hyperliquid has different risk characteristics from isolated margin: under cross-margin mode, other assets in the account are also counted as margin, and the actual liquidation price depends on the address's complete margin situation, data which the material does not disclose. For readers tracking on-chain movements, such whale addresses' position increases and decreases and fund transfers are often used as a reference for observing market sentiment; checking market data and fund flows on platforms such as Huobi HTX registration APP download, Zhima Gate.io registration APP download, Bitget registration APP download, Binance registration APP download, and OKX registration APP download is also a common way to track such events. Nodes worth watching going forward are: whether the address continues to add to or reduce its position, and whether the above-mentioned "suspected link" receives more on-chain evidence.
Frequently Asked Questions
### Will this $45.3 million long position affect the Ethereum price?
A single position's size does not by itself constitute price guidance. The material only discloses the address's position and average price on Hyperliquid, and does not disclose its total margin or liquidation price, so the actual impact on the market cannot be judged from this.
### What risk does 15x cross-margin leverage mean?
The average entry price is about $2,134.45, leverage is 15x, and it is cross-margin mode, so other assets in the account are also counted as margin. Large price fluctuations may trigger liquidation, but the specific liquidation price depends on the undisclosed margin situation.
### Has "suspected to be related to the UXLINK attacker" been confirmed?
Not yet confirmed. The wording comes from PeckShield's monitoring label; the material does not provide further forensic details, and there is no news of funds being frozen or recovered, so it should be regarded as a to-be-verified association judgment rather than a conclusion.