Trader Nets $5.6M in 3 Days by Countertrading James Wynn’s Positions

A trader has racked up $5.6 million in profits in just three days by systematically betting against the trades of prominent crypto figure James Wynn, raising eyebrows across the trading community.

According to blockchain analytics platform Lookonchain , the trader, identified by the wallet address 0x2258, executed a near-perfect sequence of countertrades against Wynn’s public positions.

On May 24, 0x2258 began shorting Bitcoin and Ethereum as Wynn opened a long BTC position. When Wynn closed his long the following day, the trader exited his short for a $1.36 million profit.

Trader Bags $2.54M by Flipping Long as Wynn Turned Bearish

On May 25, as Wynn switched to a short position, 0x2258 went long on both BTC and ETH, closing the position on May 26 with another $2.54 million gain.

When Wynn re-entered a long BTC trade that same day, the trader flipped short again, adding an unrealized $1.7 million in profit, according to Lookonchain’s latest data.

The striking symmetry between 0x2258’s gains and Wynn’s moves has fueled speculation.

Some users on X questioned whether the wallet might be linked to Wynn himself, suggesting the possibility of hidden hedging or coordinated manipulation.

“If it smells like fish, tastes like fish, and swims like fish, it’s probably a fish,” one user wrote, pointing to the uncanny alignment of trades.

Others floated the theory that Wynn could be using public losses to generate engagement, while quietly managing risk through private wallets.

Wynn pushed back swiftly. Responding directly to Lookonchain’s post, he denied any connection to 0x2258. “I only trade on one HL account and that’s public. Don’t start spreading fake news with zero proof,” he wrote.

While the identity of 0x2258 remains unknown, the wallet’s run has become one of the most talked-about streaks on crypto trading X this week.

Wynn Loses $36M After Trump’s Tariff Shock Shakes Markets

Wynn took a major hit on May 23 after former President Donald Trump proposed a sweeping 50% tariff on all EU imports.

The announcement triggered sharp sell-offs in both traditional and crypto markets, sending Bitcoin below $107,000 and dragging Ether to $2,504.

Memecoins were hit especially hard, compounding losses across highly volatile tokens.

According to data from HypurrScan , Wynn has lost over $36 million over the past week. Despite the setback, he remains $12 million in profit on his all-time trading record.

Wynn, known for his aggressive use of leverage and affinity for memecoins, began trading on Hyperliquid two months ago after depositing $4.65 million in USDC.

The decentralized exchange (DEX) is built on the Hyperliquid layer-1 chain and supports leveraged trading, spot markets, and lending services.