A crypto whale has incurred significant losses totaling over $9.5 million after engaging in contrarian trades in the crude oil market, according to Hyperinsight monitoring. Since April 20, the whale's addresses on the Hyperliquid platform have executed four short and two long positions, all resulting in losses. The trades have depleted nearly 60% of their net deposited funds, originally $24.17 million, now reduced to approximately $14.67 million. The whale's trading strategy involved switching positions frequently, with short positions consistently opened at market peaks and closed near troughs. Currently, the whale holds a 20x leveraged short position in Brent crude oil valued at $25 million, with an unrealized loss of $370,000. The position remains open as of the latest reports.