Ricards Bolotniks ended Steven Ward's Golden Contract hopes with a devastating performance on Saturday night.
Belfast boxer Ward was floored three times inside the first round before the referee waved the contest off.
It was a punishing finish from Latvian Bolotniks who progressed to the semi-finals of the lucrative tournament.
Ward was put down by a left hook midway through the round which left the 29-year-old on unsteady feet.
He managed to continue before another series of heavy shots forced Ward down again.
To his credit, Ward showed courage in returning to his feet once again, but a chopping blow to top of the head had him down for a third and final time.
It is Ward's first defeat as a professional and sees him lose the WBO European light-heavyweight title he won against Liam Conroy back in June.
Conroy was also in action tonight and won his Golden Contract quarter-final, along with Serge Michel and Hosea Burton.
Speaking on Sky Sports, fellow Belfast fighter and stablemate Carl Frampton said: "Steven is a good friend and I live with him in camp.
"I think the issue with Stevie is he is too big for light-heavyweight. After the Conroy win he wanted to move up and so did Jamie Moore. But this opportunity came along.
"That's the reason he stayed at light-heavyweight. But I think he will now move up to cruiserweight."
Frampton added: "He is the most disciplined athlete I know, that's why I feel more sorry for him.
"It will hit him hard, but he will enjoy Christmas with his family and then come back in the New Year and become a good cruiserweight."
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