A prominent crypto trader experienced over $15 million in liquidations across multiple altcoin perpetuals, including BONK, FARTCOIN, POPCAT, PNUT, CAT, and APEX, due to unprecedented CEX liquidity issues. Despite the significant loss, he remains bullish on BONK for a deca-billion-dollar target and USELESS as a potential top 5 memecoin, rotating remaining capital into BONK and 4 (likely BNB or a related asset) for better risk/reward. The event highlights systemic risks in leveraged crypto trading on CEXs, prompting a shift towards less leverage and stronger risk management.