ZachXBT says he unmasked mysterious 50x Hyperliquid whale

Onchain sleuth ZachXBT said helium had identified the mysterious whale who profited $20 cardinal from highly leveraged trades connected Hyperliquid and GMX arsenic a British hacker going by the sanction William Parker. 

According to ZachXBT’s March 20 X post, Parker — who was antecedently known arsenic Alistair Packover earlier changing his sanction — was arrested past twelvemonth for allegedly stealing astir $1 cardinal from 2 casinos successful 2023. 

Parker besides made headlines a decennary agone for allegations of hacking and gambling, ZachXBT said.

“It is abundantly wide WP/AP has not learned his acquisition implicit the years aft serving clip for fraud and volition apt proceed gambling,” ZachXBT said.

Source: ZachXBT

Related: Hyperliquid ups borderline requirements aft $4 cardinal liquidation loss

ZachXBT said his findings are based connected a telephone fig provided by a idiosyncratic who allegedly received a outgo from the whale trader’s wallet address. 

He besides said that nationalist 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 roseate to prominence aft profiting astir $20 cardinal from highly leveraged trades — successful immoderate cases with up to 50x leverage — connected decentralized perpetuals exchanges Hyperliquid and GMX. 

On March 12, the trader intentionally liquidated an astir $200 cardinal Ether (ETH) long, causing Hyperliquid’s liquidity excavation to suffer $4 million. 

Meanwhile, the whale earned profits of immoderate $1.8 million.

Hyperliquid said the liquidation was not an exploit but alternatively a predictable effect of however the trading level operates nether utmost conditions. The DEX aboriginal revised its collateral rules for traders with unfastened positions to defender against specified occurrences successful the future. 

On March 14, the whale took another multimillion-long position, this clip connected Chainlink (LINK).

Perpetual futures, oregon “perps,” are leveraged futures contracts with nary expiry date. Traders deposit borderline collateral — typically USDC (USDC) for Hyperliquid — to unafraid unfastened positions. 

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