In retrospect it was obvious it would end badly, but few expected the wipeout to be this fast. The trader known across crypto circles as "qwatio" has officially blown up on Hyperliquid after going all-in with leverage that left no room for error.  What began as a $154 million XRP short position, as per Onchain Lens, layered on top of a massive 40x bet against Bitcoin, turned into a spectacular loss of $3.44 million in just a matter of a weekend.