A major crypto whale has suffered one of the harshest losses seen on the Base this month. Onchain data shows that the investor spent around $23 million purchasing tokens from AI agents across the Base network. This week, the same wallet exited all positions. The total return was only $2.58 million. That measure generated a loss of approximately $20.4 million. In percentage terms, the portfolio plummeted almost 89%.
This could be one of the worst investments ever made.
A whale/institution spent $23 million buying AI agent tokens #Base and sold everything today for only $2.58 million, resulting in a loss of $20.43 million (-88.77%).
Break down:$FAI: −$9.87 million (−92.31%)$AIXBT: −$7.81 million (−83.74%)$LOW:… pic.twitter.com/DbEqIyD6xT— Lookonchain (@lookonchain) December 16, 2025
Lookonchain called the trades one of the worst recent investments in AI tokens on Base. At first, the strategy seemed bold. The whale distributed capital among several trending AI-related tokens. But when liquidity ran out, the exit was brutal. The size offered no protection. It only magnified the damage.
Token-by-token losses tell a brutal story
The biggest impact came from the FAI. Specifically, the whale spent almost $10.7 million building the position. However, the final sale brought in only about $822,000. As a result, that single operation wiped out almost $9.9 million. AIXBT followed closely; In that case, a $9.3 million buy-in was reduced to about $1.5 million at the exit. That position alone lost more than $7.8 million. Other tokens collapsed even further in percentage terms. POLY fell more than 98%. NFTXBT lost more than 99%. MAICRO and BOTTO also fell more than 80%. In total, six AI-related tokens went from being hyped to suffering huge losses. None of the positions were profitable. They were all completely closed on the same day.
Liquidity risk exposes the limits of “smart money”
This trade highlights a recurring problem in small-cap narratives. AI Agent tokens on Base are often traded in tight markets. Prices can rise quickly. The departures, however, are another story. When a whale tries to leave, liquidity disappears. The slide increases and panic spreads. The graph collapses. Several commentators noted that the execution, not the conviction, probably sealed the loss. Arriving early helps. Not being big. In fact, size can become a burden. Once the feeling changes, there is no easy way out. Onchain data now shows that the wallet contains only a few low-value tokens and less than one ETH. The once huge AI portfolio has been effectively eliminated.
A warning sign for basic AI narratives
The Base ecosystem has experienced strong growth. AI narratives added fuel earlier this year. However, this episode shows how quickly those narratives can break down. Smart money also bleeds. Having a lot of money does not guarantee discipline. Hype is no substitute for liquidity and diversification doesn’t help when correlations take over. For retailers, the lesson is simple. Follow on-chain data, not just stories. Monitor liquidity before entry. The plan comes out early. For whales, the message is harsher. The markets don’t care how big you are. When the door narrows, everyone runs towards it at once.
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