Although James Wynn faced losses nearing $100 million, a different trader amassed a substantial profit by regularly positioning against his trades.
A crypto trader secured over $17 million in gains by consistently wagering against the strategies of controversial crypto fund manager James Wynn. On Friday, May 30, Lookonchain revealed that the individual controlling wallet address 0x2258 had routinely taken positions directly counter to Wynn’s trades.
The trader adopted a reverse strategy—shorting whenever Wynn went long and going long when Wynn shorted. This tactic proved highly successful, yielding $17 million in profits, while Wynn accumulated losses totaling $98 million.
This trading approach began gaining notice on May 24, when wallet 0x2258 took short positions on both Bitcoin and Ethereum, directly opposing Wynn’s long bets. The following day, after Wynn exited his trades, 0x2258 did the same—securing a profit of $1.36 million.
Wynn later switched to short positions on BTC and ETH, while 0x2258 shifted to long. Upon Wynn’s exit, the opposing trade brought 0x2258 an additional $2.54 million in profit. This pattern persisted until May 26, when Wynn returned to a long stance, and 0x2258 earned $1.7 million by taking the short side.
Wynn Loses $98 Million on High-Stakes Crypto Bets
James Wynn, recognized for his aggressive use of leverage, has become notable for incurring the largest losses to date on the Hyperliquid platform, now approaching $100 million. Despite the outcome, Wynn expressed no remorse, referring to the experience as part of the “casino.”
Zero regrets. Flipping $4 million to $100 million and back down to -$13 million is one hell of a thrill. Hope many of you enjoyed it as much as I did,
James Wynn said.
Wynn, widely recognized for his high-leverage trading style, is also a contentious figure within the crypto space because of his association with memecoins. Several blockchain investigators, including ZachXBT, have accused him of promoting and then offloading memecoins to his followers for personal gain.
