Trader Scores $17 Million Jackpot Betting Against Crypto's Bad Boy James Wynn

Holy smokes! While James Wynn's crypto empire crumbled, losing a jaw-dropping $100 million, another slick trader was laughing all the way to the bank, raking in a cool $17 million by playing the ultimate game of opposites.

On a wild Friday, May 30, the crypto world was buzzing when Lookonchain spilled the beans on this epic showdown. The mastermind behind wallet address 0x2258 pulled off the unthinkable by consistently going against everything Wynn did. When Wynn went long, 0x2258 went short, and vice versa. It was like watching a high-stakes dance-off, and 0x2258 was stealing the show.

This daring strategy of doing the exact opposite of Wynn's moves paid off big time, with 0x2258 pocketing a sweet $17 million while Wynn was left licking his wounds from a staggering $98 million in losses. Talk about a David vs. Goliath moment!

The winning formula these days? Just do the opposite of whatever James Wynn is doing. 0x2258 has been playing this game like a pro, shorting when Wynn goes long and going long when Wynn shorts. In the past week alone, 0x2258 has been swimming in cash, making around $17 million, while Wynn's been drowning in a sea of $98 million in losses.

This rollercoaster ride kicked off on May 24 when 0x2258 threw down the gauntlet, shorting both Bitcoin and Ethereum while Wynn was betting big on them. The very next day, after Wynn threw in the towel, 0x2258 followed suit and walked away with a tidy $1.36 million gain. It was like watching a chess grandmaster outmaneuver their opponent.

But Wynn wasn't done yet. He flipped the script and started shorting BTC and ETH, while 0x2258 went long. When Wynn finally called it quits, the counter-trade netted 0x2258 another $2.54 million. This back-and-forth continued until May 26, when Wynn went long again, and 0x2258 made a killing, pocketing $1.7 million by shorting. It was like watching a high-stakes tennis match, with 0x2258 serving aces left and right.

Wynn's Risky Gambles Leave Him $98 Million in the Red

James Wynn, the notorious high-leverage trader, has been making headlines with his risky bets on Hyperliquid, and boy, did they backfire. He's now staring down the barrel of a $100 million loss. But get this – the guy's still grinning from ear to ear, calling it a "casino" and saying he has "zero regrets."

"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," Wynn said with a smirk. It's like watching a gambler who's lost everything but still thinks he's the king of Vegas.

Wynn's not just known for his wild trades; he's also a controversial figure in the crypto world, thanks to his shady dealings with memecoins. Several crypto sleuths, including ZachXBT, have called him out for allegedly pumping and dumping memecoins to his followers. It's like watching a magician who's been caught pulling rabbits out of his hat, but instead of rabbits, it's people's hard-earned cash.