An on-chain trader identified as 0x9bb7 was liquidated on a $3.68 million short position in tokenized NVDA in less than one minute this week, as the stock reversed sharply from an intraday crash.
The trader held 24,696 units of wrapped NVDA on a decentralized perpetuals platform. The liquidation triggered when NVDA bounced from its lows, pushing the position below maintenance margin in under 60 seconds.
The speed reflects how tightly leveraged positions operate on-chain. Most perps platforms quote oracle prices with minimal latency and auto-liquidate when collateral dips below the maintenance threshold—a hard floor designed to protect liquidity providers from cascading losses.
NVDA traded at $166.19 at the time, down 4.3 percent on the day. The intraday swing was enough to wipe the entire short before the trader could manually close or add collateral.
