A well-known crypto whale, identified by the wallet address 0xc2a3, has exited his Bitcoin (BTC) long position using 13x leverage, resulting in a staggering $18 million in losses. This move has caught the attention of the crypto community, especially given the wallet’s track record of high returns — previously earning $33 million from successful trades.
The whale’s aggressive leverage strategy appears to have backfired this time. While leveraged trading can amplify gains, it also significantly increases the risk, as seen in this case. The market volatility in recent days may have contributed to the unexpected outcome.
Partial Exit From ETH and SOL Positions
In addition to closing the BTC position, the whale has also partially exited positions in Ethereum (ETH) and Solana (SOL). The partial exit suggests a broader de-risking strategy, possibly in response to market uncertainty or an attempt to preserve remaining profits. Though the exact amounts for ETH and SOL exits weren’t fully disclosed, the combined impact alongside the BTC loss points to a major portfolio shift.
ALERT: Whale 0xc2a3 closed his $BTC long with 13x leverage and partially exited $ETH and $SOL, facing over $18M in losses after previously earning $33M. pic.twitter.com/YebBDVoFBL
— Cointelegraph (@Cointelegraph) November 3, 2025
From $33M Gains to $18M Loss: A Market Reminder
This turn of events serves as a reminder of the volatile nature of crypto markets. Even seasoned traders and whales with prior large-scale profits are not immune to the risks of leverage and market swings. While the wallet remains profitable overall, this event highlights how quickly fortunes can shift, especially when using high leverage.
For traders and investors watching this move, the message is clear: leverage amplifies both gains and losses, and risk management is critical — even at the top.