A significant short position on Hyperliquid involving SK Hynix mapping contracts has resulted in a 119% unrealized loss for a major investor. The position, initiated on February 20, involved shorting 3,394.6 SKHYNIX contracts at 4x leverage, with an average entry price of $816. As SK Hynix's stock price surged to an all-time high, the contract price reached $1,299, pushing the unrealized loss to $1.58 million, more than double the initial margin. Despite the mounting losses, the position remains open, with the liquidation price set at $1,592. New short positions continue to emerge, with the latest entry at an average price of $1,250. The closest liquidation level for these positions is at $1,451, indicating ongoing risk for traders betting against SK Hynix's rising stock price.