No — but the account itself is closed. If you hit the Maximum Loss Limit, your evaluation account is liquidated and can no longer be traded.
What Happens Next
The account is closed and your subscription does not renew for that account.
To keep going, reset from your dashboard for $99 ($50K), $149 ($100K), or $199 ($150K), or purchase a new evaluation.
Other Rule Breaks
Violations of prohibited conduct (such as hedging across accounts, tick-scalping, or exploiting the platform) may result in account closure and forfeiture of payouts.
Hitting the loss limit is a normal part of trading. Review your trades, adjust your risk, and start fresh.