According to ChainCatcher, monitoring by @ai_9684xtpa shows that a certain trader has exchanged 4.5 million DAI for USDC in the past 15 minutes, likely in preparation for margin, though the funds have not yet been deposited to Hyperliquid. Since opening simultaneous short positions on Bitcoin and Ethereum, this trader has triggered liquidations multiple times, incurring a loss of $9.93 million over the past week, with current positions still showing an unrealized loss of $2.16 million.