Anomalous Address Initiates 100 Million ETH Short, Ultimately Only Trades 1,779.67 ETH

On August 6, an address starting with 0xd9a5 initiated a 30-minute ETH sell TWAP, planning to short 52,956 ETH, with a nominal amount of approximately 100.4 million USD. The order was terminated about 45 seconds later, with only 1,779.67 ETH traded, achieving a completion rate of 3.36%. The account balance of this address was only 335,000 USD, nearly placing a short order equivalent to 299 times its own funds, and subsequently withdrew about 97%.

Yesterday, this address initiated a total of 39 ETH TWAPs, of which 31 were for shorting, all terminated early, with a median runtime of only 16.5 seconds and a median completion rate of approximately 3.42%.

In the first two rounds, the address actually sold about 1,779.67 ETH, observing Hyperliquid's single round trading situation of about 880 ETH and slippage. The anomalous trades may involve two behaviors: one is quickly generating market price slices close to the account limit, and the other is assessing the current ETH market's capacity and actual trading slippage.

Yesterday, this address cumulatively shorted 58,200 ETH, then bought them all back, with a total trading volume of approximately 218 million USD, a gross profit of about 398,000 USD, and a net profit of about 336,000 USD after deducting fees. As of the time of writing, it only has 1,779.67 ETH short positions left, with a position value of about 3.374 million USD, using 10x full leverage, with an average entry price of 1,895.08 USD, currently floating a loss of about 1,265 USD, and the account has no other running TWAPs or pending orders.