Summit

Online

ZachXBT

Rise

Hyperliquid

A <a href="https://x.com/zachxbt/status/1902713021937426495">recent investigation</a> by on-chain analyst&nbsp;ZachXBT has uncovered the identity behind the so-called "Hyperliquid Whale"—a crypto trader who allegedly made&nbsp;$20 million in profits through highly leveraged trades on decentralized platforms like&nbsp;Hyperliquid and GMX.&nbsp;
The investigation suggests that the man behind these trades is&nbsp;William Parker, a convicted fraudster with a long history of financial crimes.
<h2 dir="ltr" id="span-span-strong-the-rise-of-the-hyperliquid-whale-strong-span-span">The Rise of the Hyperliquid Whale</h2>
For weeks, the crypto community has speculated about a trader making&nbsp;massive profits from high-leverage positions. This mysterious whale gained attention for executing two particularly&nbsp;profitable trades:
<ul>
 <li>A&nbsp;$10 million profit from a&nbsp;50x leveraged long position on&nbsp;<a href="https://bsc.news/post/what-is-ethereum-eth-how-it-works-explained">Ethereum (ETH)</a> and <a href="https://bsc.news/post/what-is-bitcoin-how-it-works-mining-digital-gold-guide">Bitcoin (BTC)</a> just before a key&nbsp;crypto-related announcement by Donald Trump.</li>
 <li>A&nbsp;$9 million gain from a&nbsp;40x leveraged Bitcoin short position, perfectly timed to capitalize on market movements.</li>
</ul>
Using wallet address&nbsp;0xf3f, the trader made these significant moves, raising suspicion among analysts and traders alike.
<h3 id="span-span-strong-the-investigation-unfolds-strong-span-span">The Investigation Unfolds</h3>
Blockchain detective&nbsp;ZachXBT linked Parker to these transactions after identifying a cluster of wallets associated with:
<ul>
 <li>Online gambling sites, including&nbsp;Roobet, Binance, and Gamdom.</li>
 <li>Phishing scams, including a fraudulent site where Parker’s wallet was found receiving funds.</li>
 <li>A casino exploit, where Parker reportedly manipulated a game’s input validation to generate illicit profits.</li>
</ul>
One of the critical findings was that Parker had used&nbsp;stolen funds from a casino exploit to finance his&nbsp;high-risk trades, turning a&nbsp;relatively small sum into a fortune.
<h3 id="span-span-strong-the-role-of-high-leverage-in-parker-s-strategy-strong-span-span">The Role of High Leverage in Parker’s Strategy</h3>
Parker’s ability to make&nbsp;millions in a short time was due to his&nbsp;use of leverage, a trading technique that involves borrowing funds to increase position size. On&nbsp;platforms like Hyperliquid and GMX, traders can access leverage of up to&nbsp;50x, meaning even a&nbsp;2% market move could result in a&nbsp;100% gain (or loss).
Parker&nbsp;timed his trades perfectly, often executing positions ahead of major market-moving events, such as:
<ul>
 <li>The White House Crypto Summit</li>
 <li>The Bitcoin reserve debate</li>
 <li>Key regulatory announcements</li>
</ul>
By anticipating market reactions, Parker was able to&nbsp;manipulate volatility to his advantage.
<h2 dir="ltr" id="span-span-strong-market-impact-and-the-4-million-hyperliquid-vault-loss-strong-span-span">Market Impact and the $4 Million Hyperliquid Vault Loss</h2>
Parker’s aggressive trading strategies didn’t just make him rich—they also&nbsp;disrupted the market. At one point, he opened a&nbsp;$200 million long position on ETH, which led to a&nbsp;$4 million loss for one of Hyperliquid’s trading vaults.
Many in the crypto community initially speculated that&nbsp;Hyperliquid had been hacked, but the platform later <a href="https://x.com/HyperliquidX/status/1899768864705237211">clarified</a> that the losses were due to a trader reducing their margin to maintenance levels. As a result, Parker walked away with&nbsp;$1.8 million, while the vault absorbed a significant hit.
<h2 dir="ltr" id="span-span-strong-a-criminal-past-catches-up-strong-span-span">A Criminal Past Catches Up</h2>
As ZachXBT dug deeper, Parker’s&nbsp;troubled history came to light. His record includes:
<ul>
 <li>2023: Arrested for stealing&nbsp;$1 million from two casinos.</li>
 <li>2017: Involved in a casino hacking scheme that enabled him to exploit online gambling platforms.</li>
 <li>Early 2010s: Active in the&nbsp;UK’s cybercrime scene, engaging in fraud and phishing operations.</li>
</ul>
These findings suggest that Parker’s crypto profits were&nbsp;not just a result of smart trading but also illicit financial schemes.
<h3 id="span-span-strong-ties-to-a-larger-network-strong-span-span">Ties to a Larger Network?</h3>
ZachXBT’s research also suggests that Parker might not have been acting alone. By tracing his&nbsp;wallet activity, the investigation uncovered connections to&nbsp;other major players in DeFi, including individuals linked to&nbsp;Solana-based casinos and high-frequency trading operations.
This raises further questions: Was Parker part of a&nbsp;larger network of traders who used similar tactics? Were others also&nbsp;leveraging illicit funds for high-stakes crypto trading?
With the&nbsp;Hyperliquid Whale’s identity exposed, the crypto community is left wondering whether authorities will&nbsp;take action against Parker. Given his&nbsp;criminal background and links to financial fraud, it’s possible that regulators will&nbsp;investigate his activities further.

Who Is the Mysterious Hyperliquid Whale?

Índice

BSCN

Outros artigos publicados em 24 de mar. de 2025

Tesla stock is S&P 500’s best-performing stock today, closes best day of 2025

Bitcoin ‘more likely’ to hit $110K before $76.5K — Arthur Hayes

Trump threatens 25% tariff on countries buying Venezuelan oil

Whale Loses $207K on $TRUMP After Trump’s Post

What Makes Sidra Chain Unique? Full Analysis

Rain Secures $24.5M Funding to Revolutionize Stablecoin Payment Cards: A Boost for Crypto Payments?

Receba nossa newsletter para saber diariamente as novidades das criptomoedas!