ChainCatcher reported that the whale James Wynn posted on social media, stating that he just started participating in perpetual contract trading in March this year, having never seriously traded before and mostly just playing with meme coins. Within a short month, he rolled over $3 million to $100 million, and then lost everything in a week on HyperLiquid. At the time, he was just playing around, but with on-chain data publicly visible and hundreds of thousands of people watching his account's dramatic rises and falls, he decided to let loose. Later, things gradually spiraled out of control. He understood that this was essentially gambling, wanting to recover his losses while also fearing being mocked for "not being able to keep $100 million", so he sank deeper and deeper. The numbers jumping on the screen became a virtual game, with greed completely taking over.
James Whale: I know I have lost control, but I am afraid of being laughed at even if I want to recover my losses
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