Leveraged Zcash traders have experienced one of the biggest performance drops on HyperTracker in recent weeks after a series of forced liquidations that wiped out nearly all account assets within hours.
According to the latest dashboard data, the account associated with wallet 0x9bf3….bf6cf9 now reflects a balance of $23,942.44 after a series of large ZEC long positions were unwound in the early morning hours of November 28th.
The incident ranks as one of the most severe single-asset eliminations captured by the platform, with traders’ cumulative losses amounting to -$2.38 million across multiple perpetual futures positions.
With $ZEC falling, Whale completely liquidated his long $ZEC position and lost $1.59 million.
Overall, Whale lost $2.39 million across multiple positions and was left with $24,000. https://t.co/sC9lWXZxKV pic.twitter.com/SFIlou2DW6
— Onchain Lens (@OnchainLens) November 28, 2025
The trade log shows that the trader actively opened multiple “long” positions between 04:49 and 04:51 UTC, entering at a price of approximately $487 to $488. These highly leveraged positions are worth approximately $100,000 each, effectively betting on an immediate rebound.
The market moved against the trade. When the ZEC price fell below $465, the exchange’s risk engine triggered a series of forced liquidations.
- damage: Four major positions were closed simultaneously at prices between $447.88 and $452.72.
- cost: Realized losses on these particular transactions totaled more than $1.58 million. The account’s cumulative losses now amount to -$2.38 million, with a balance of just $23,942, an almost complete capital collapse.
Related: Zcash extends strong breakout as traders track ZEC/BTC momentum and new warning
ZEC market trends add pressure
Zcash price movement during the liquidation period shows a clear downward shift. ZEC was trading at $474.17 after falling 6.64% in the past 24 hours, with an early morning drop following the decline that sent the asset below $465.
The market capitalization decreased by 6.64% to $7.78 billion, and the 24-hour volume decreased by more than 13%, indicating a decline in participation during the downturn. The circulating supply amount is 16.41 million ZEC, and the trading volume ratio to market capitalization is 10.37%.
Volume and liquidity comparison
The accounts that were wiped out were not small players. Before the crash, it was generating more than $72 million in trading volume.
This incident is a stark reminder of the risks inherent in the perpetual futures market, where volatility can deplete even a capital-rich portfolio in minutes if stop losses are not strictly enforced.
Related: Zcash Price Prediction: ZEC maintains bullish bias while Cypherpunk boosts holdings
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