The post Crypto sleuth ZachXBT says he unmasked 50x Hyperliquid whale appeared on BitcoinEthereumNews.com.

Onchain sleuth ZachXBT said he had identified the mysterious whale who made $20 million in profits from highly leveraged trades on Hyperliquid and GMX as a British hacker known as William Parker. According to ZachXBT’s March 20 X post, Parker — who was previously known as Alistair Packover before changing his name — was arrested last year for allegedly stealing around $1 million from two casinos in 2023.  Parker also made headlines a decade ago for allegations of hacking and gambling, ZachXBT said. “It is abundantly clear WP/AP has not learned his lesson over the years after serving time for fraud and will likely continue gambling,” ZachXBT said. Source: ZachXBT Related: Hyperliquid ups margin requirements after $4 million liquidation loss ZachXBT said his findings are based on a phone number provided by a person who allegedly received a payment from the whale trader’s wallet address.  He also said that public wallet addresses associated with the whale trader received proceeds from past onchain phishing schemes. Cointelegraph has not independently verified ZachXBT’s claims.  Massive leveraged bets The mysterious whale rose to prominence after profiting approximately $20 million from highly leveraged trades — in some cases with up to 50x leverage — on decentralized perpetuals exchanges Hyperliquid and GMX.  On March 12, the trader intentionally liquidated an approximately $200 million Ether (ETH) long, causing Hyperliquid’s liquidity pool to lose $4 million.  Meanwhile, the whale earned profits of some $1.8 million. Hyperliquid said the liquidation was not an exploit but rather a predictable consequence of how the trading platform operates under extreme conditions. The DEX later revised its collateral rules for traders with open positions to guard against such occurrences in the future.  On March 14, the whale took another multimillion-long position, this time on Chainlink (LINK). Perpetual futures, or “perps,” are leveraged futures contracts…

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Filed under: News - @ March 21, 2025 2:25 pm