A newly created wallet opened a 20x leverage to short 1,021 bitcoins, worth about $120.3 million

According to Odaily Planet Daily, according to Lookonchain monitoring, the newly created wallet address 0x89Da withdrew 12 million USDC from Bybit and transferred it to Hyperliquid. Subsequently, the address used the funds to open a short position with 20 times leverage, shorting 1,021 bitcoins, with a total value of approximately $120.3 million.