Maji Cheng is liquidated again, and the funds raised from selling 15 NFTs were wiped out within 4 days
According to Lookonchain monitoring, “Maji Big Brother” Huang Licheng has once again suffered liquidation. Over the past 4 days, the $223,000 in funds he raised by selling 15 NFTs at the cost of a $505,000 loss were also quickly wiped out again.
As of now, his cumulative loss on Papertrade is $909,000, and his cumulative loss on Hyperliquid is $37.4 million.
Original source:
Title: Maji faces another liquidation, with funds raised from selling 15 NFTs exhausted in just 4 days. Publisher: Lookonchain Publication date: November 5, 2026 URL: https://www.lookonchain.com/feeds/80772 Source nature: On-chain monitoring platform announcement Verification status: The original text has been read and cross-checked against multiple English retellings; the core facts (suffering another liquidation, selling 15 NFTs over the past 4 days at a $505,000 loss to raise $223,000 and quickly wiping it out, cumulative loss of $909,000 on Papertrade, cumulative loss of $37.4 million on Hyperliquid) all correspond directly Support content: data related to Huang Licheng’s account liquidation and NFT sales
ABAB AI Insight
Huang Licheng cashed out by selling NFTs to replenish margin, but the newly raised funds were liquidated away again in a short period, forming a cycle of “selling assets - replenishing positions - being liquidated again.” The NFT sale itself had already realized an accounting loss, and the subsequent funds still failed to sustain the position.
The cumulative loss on Hyperliquid is significantly larger than on Papertrade, indicating that the main risk is concentrated in high-leverage perpetual contracts rather than spot or NFT trading. Repeated liquidations quickly return the account to a low-balance state after funds are injected.
On-chain monitoring shows that his trading pattern has long been accompanied by frequent forced liquidations, and this event continued the path of multiple liquidations in quick succession seen before. The source of funds shifted from external deposits to liquidation of NFTs already held, but this did not change the fragility of the leveraged positions.
Repeated account wipeouts for an individual trading account do not change the overall market liquidity structure, but the continued appearance of high-leverage liquidation cases keeps the margin burn path on perpetual contract platforms visible.
ABAB News · Laws of cognition
- Replenishing margin by selling already-loss-making NFTs did not interrupt the subsequent liquidation cycle.
- The main cumulative losses were concentrated on the perpetual contract platform, not on the NFT liquidation itself.