PANews reported on October 24th that Onchain Lens reported that address "0x8c58" deposited $1.98 million USDC into HyperLiquid and opened a 20x leveraged short position in ETH. The address initially suffered a $26.6 million loss, and while it has since partially recovered, it currently remains at a loss of approximately $19 million. Notably, this investor had previously profited from shorting ETH.