UXLINK-Linked Whale Dumps $148M in ETH, SOL and XRP Longs on Hyperliquid.

A Hyperliquid wallet that on-chain analytics accounts link to the UXLINK exploit began unwinding $148 million of long positions on 9 November. EmberCN's monitoring puts the book at 30,282 ETH, 550,000 SOL and 35.03 million XRP, sold through a 16-hour time-weighted average price (TWAP) order that, if it fills, carries an expected loss of about $3.3 million.

• The news: an address funded from wallets the analysts tie to the UXLINK exploit is selling $148 million of ETH, SOL and XRP longs on Hyperliquid.
• The figure and its date: the positions were opened in August, and the 9 November unwind is expected to lock in about $3.3 million of losses.
• What happens next: the TWAP is set to end by 06:00 GMT on 10 November, and the wallet's liquidation prices are the levels that would force an earlier exit.

What the Wallet Is Selling

The three legs have different triggers. The Ethereum long holds 30,282 coins, opened at $2,134, with a liquidation price of $1,740. The Solana leg is 550,000 coins at 10x leverage, fully liquidated if SOL reaches $65.6. The XRP leg holds 35.03 million coins, with liquidation at $0.94.

Around the time the order went out, ETH was quoted near $2,121.93, SOL near $86.73 and XRP near $1.09, each lower on the session. At those prices the book is worth about $148 million, the value the analytics desk used when the longs were built in August.

Every one of those numbers is EmberCN's read of the wallet. A primary positions page for the address was not read, so the entry price, the leverage and the liquidation levels carry that limit.

Why One Wallet Is Selling Into a Weak Market

The unwind is happening inside a selloff, not outside it. Ethereum briefly fell below $2,100 during Sunday's drop and stayed under the $2,200 level that had held as support. Bitcoin traded below $74,000 and touched a multi-month low near $73,500.

Liquidations measure how forced that selling is. CoinGlass counted $1.296 billion of liquidations across crypto derivatives in 24 hours. On Ethereum alone, more than $462 million of positions were closed in the same window, about $425 million of them longs, 92% of the total, against $37 million of shorts. US spot Ethereum ETFs lost roughly $365.2 million between 2 and 6 November, per Farside Investors.

The whale's own profit went the same way. At the end of October the address still held $5.6 million in unrealized profit on its Ethereum long. Early November erased it, leaving most of the position near the prices that would force it out.

What the Address Did Before It Unwound

The wallet was not a first-timer. It consolidated 11.54 million USDC in August before opening the longs, closed five of six trades in profit for $5.71 million in realised gains, and was counted as Hyperliquid's most profitable address for a stretch. Hyperliquid has held large single-address bets before.

The UXLINK Label Is an Assertion, Not a Proven Identity

"UXLINK hacker" comes from the analytics accounts, not from a court or a filing. What is documented is that the wallet's funding traces to addresses tied to the UXLINK exploit, and that 11.54 million USDC was consolidated before the August entry.

The exploit's own numbers do not agree. Reports put the UXLINK loss at roughly $40 million to $44 million, and the dates given for it differ across accounts. Whether the trader is the exploiter or a wallet funded from those addresses is asserted by the analytics desks and has not been proven independently.

What to Watch Before 06:00 GMT

The TWAP exists to spread the exit over 16 hours so the book does not have to be sold at once. It is scheduled to finish at 06:00 GMT on 10 November. If ETH holds above $1,740, SOL above $65.6 and XRP above $0.94, the schedule runs to the end and the roughly $3.3 million loss stands.

A move below any of those would change that, forcing a market-driven exit instead of a scheduled one. With ETH near $2,121.93 and SOL near $86.73, the nearest trigger, XRP's $0.94 against a price near $1.09, is still below the market. That leaves the clock as the more immediate risk.