Wiped Out, Not Broken: How I Lost $30M in the Biggest Crypto Liquidation Ever — and Why I’m Coming Back Stronger

Wiped Out, Not Broken” — How I Lost $30M in the Biggest Crypto Liquidation Ever

“The LORD gave, and the LORD hath taken away; blessed be the name of the LORD.”
— Job 1:21

The Brutal Reality

Yesterday’s liquidation event was the most brutal I’ve ever witnessed in my time in crypto.
I got completely wiped out — on every single perpetual position.

Eight figures gone.
Over $30 million+ at peak unrealized PnL, and still $15 million just before the liquidation cascade began.

Here’s what was wiped out:
$BONK
$FARTCOIN
$POPCAT
$PNUT
$CAT
$APEX
…and more

I also lost roughly 80% of my $ASTER position that was used as collateral on a DeFi lending protocol.

What’s Left and What Comes Next

I withdrew the remaining $1 million, fully liquidated it, and rotated into $BONK and $4, because I believe both now offer far better risk/reward:

$BONK – because I refuse to be the “Bonk guy” without BONK exposure. I still believe in its deca-billion-dollar potential and will continue adding over time, God willing.

$4 – because I’m still convinced the BNB season will last through this quarter, and $4 is the most asymmetric bet to play it.

Thankfully, most of my $USELESS holdings were in spot, not perps, so the losses there were minimal — aside from a few hundred thousand in unrealized PnL.

I remain absolutely convinced that $USELESS is the memecoin to watch for outperformance.
It’s a multi-billion-dollar idea currently trading for pennies, and I believe it will end the cycle as a top-5 memecoin — easily a 10x+ from here.

What Happened Yesterday?

Many are blaming Trump’s recent China tariff comments — but this wasn’t the first time this year.
Tariff headlines alone couldn’t have caused such a violent meltdown across nearly all altcoins and memecoins.

While $BTC and $ETH dropped ~13%, countless alts crashed 70–99% within minutes.
For example, $ATOM fell from $4 to $0.001 on Binance — a 99.9% crash in minutes.
No one could have reacted in time.

It’s also worth noting: this crash was exclusive to centralized exchanges (CEXs).
These tokens never reached such lows on DEXs.
That points strongly toward market maker or CEX-side liquidity failures as the real cause.

Why This Was Unprecedented

Exchange systems broke across the board:
Stop-losses failed, orders didn’t fill, margin couldn’t be added, and platforms froze within minutes.

The liquidation cascade happened so fast that almost nobody could react — not even seasoned traders.

I stepped away from my desk briefly, came back ten minutes later… and everything was gone.

It was worse than the COVID crash.
A true black swan event.

Accepting Responsibility

You can call it manipulation, unnatural, whatever — and you’d probably be right.
But as a trader, I can only focus on what I can control.

Blaming the system doesn’t help me grow.
I win if I make money trading; I lose if I lose money trading. End of story.

I’m sure we’ll hear more soon about what really happened that night — hopefully bringing closure for many.

Why I’m Writing This

I know this post will go viral.
Some people waited for this moment to say: “He was too greedy.”
Others will laugh and say: “I told you so.”

But I’m writing this for two reasons:

Transparency has always been central to the “Bonk guy” persona — so others can learn.

Some traders lost everything yesterday. If my story helps even one person hold on and find hope, it’s worth sharing.

No Sympathy Needed

Let me be clear:
I don’t need empathy.
I don’t need donations.
It was a massive loss — but I’m okay.

I’m in a good mental state.
I’ve always been detached from money and material things, which helps in times like this.

Lessons Learned

At its peak, my $BONK trade grew from $16K to an eight-figure PnL.
If I did it once, I can do it again.

Could I have predicted system-wide exchange failures that nuked 70–90% of alts in minutes? No.
Could I have managed risk better? Maybe.

But what’s done is done.

From here on, I’ll:

Rely less on leverage

Sharpen risk management

Build stronger protection against exchange-side risks

All that matters now is what happens next.

Still Bullish

I don’t believe the bull run is over.
I don’t believe the Q4 rally is gone.

I’m doubling down — with focus, conviction, and a bit of humor.

Every cycle brings new challenges and new chances.
This is mine.
And I intend to rise from it — not for validation, but for myself.

To Everyone Who Lost Everything

PERSIST.
SURVIVE.
DON’T GIVE UP.

If you need a break, take it.
If you’re struggling, seek help.
Take care of your health — it matters more than any chart.

Remember: these gains and losses are just numbers on a screen until realized.
You’ve made it before. You can make it again.

The most profitable part of the cycle is still ahead of us.

Final Thoughts

This event reminded me that no matter how prepared you think you are, you’re never completely shielded from systemic shocks —
but you can always control your response.

I’m rebuilding my framework with that truth in mind.

I’m once again an underdog.
But this is not the end of my story.

God willing.