Trader With 89% Win Rate Loses $10.68 Million Shorting Zcash

Zcash (ZEC) has climbed 177.8% in a month, and the traders betting against it are paying for that move. One short was closed at a $10.68 million loss this week, and the largest position still open sits $33.87 million underwater on Hyperliquid.

Zcash Shorts Collapse as the Token Jumps 177% in a Month Lookonchain flagged the closed trade before the exit, citing 26 consecutive wins and an 89% rate across 47 trades. That record had produced more than $9 million in profit.

The short covered 12,285 ZEC and was worth $18.31 million earlier, with liquidation set at $1,550.66. Hyperliquid data shows the account now holds no positions at all.

As $ZEC keeps pumping, this guy was forced to close his short, taking a $10.68M loss.Shorting $ZEC has turned his $9M+ profit into a $1.57M loss!https://t.co/nRwjMnnXso pic.twitter.com/4Otk3lOCmu— Lookonchain (@lookonchain) September 19, 2026 Garrett Jin holds the largest short still open, covering 37,999 ZEC worth $59.37 million.