Controversial influencer Andrew Tate is learning the hard way about blockchain transparency.
On Tuesday, Tate took to X (formerly Twitter) to flex a massive +138.5% return on an ETH long position using 25x leverage on Hyperliquid, a rising decentralized perpetuals exchange (DEX).
His post included a Hyperliquid-branded trade screenshot and a referral link, an apparent attempt to capitalize on the buzz and drive affiliate signups.
But Tate may have underestimated the transparency of on-chain platforms. While centralized exchanges (CEXes) can obscure account identities, DEX trades are fully public, tied to wallet addresses.
Crypto sleuths quickly traced the wallet behind his Hyperliquid trade, exposing a much less glamorous truth.
According to data from portfolio tracker Hyperdash, the wallet currently shows a cumulative PnL of -$597,302.89, reflecting total losses across all past trades. In other words, Tate has burned through nearly $600K on Hyperliquid since he began trading there.
Tate is currently up 138% on ETH long
In contrast, his flexed ETH long is a currently open position with $22,000 in unrealized profit, meaning this single trade is indeed up +138%, but the overall account is still deep in the red.
The reaction was swift. Users shared screenshots of the findings across X and crypto forums. Within hours, Tate’s original post had mysteriously vanished.
When pressed about the losses, Tate replied: “I’ll make it all back with one trade.”
The episode highlights a key dynamic of modern DeFi: clout-chasing posts can backfire in a fully transparent ecosystem. On Hyperliquid and similar platforms, wallet histories are an open book, allowing the community to verify whether public wins match private records.
Whether Tate can indeed trade his way back to green remains to be seen. For now, the blockchain remembers.
Featured image via Shutterstock
