A trader using the address 0x1Ce…EF129 experienced significant losses on the Hyperliquid platform. The trader initially deposited 4.23 million USDC and engaged in a series of trades, switching between short and long positions. At one point, the trader held a short position of 12,024.26 ETH, valued at $46.69 million. However, the trader ultimately closed the positions, incurring a loss of $891,000 within 24 hours.