{"id":125491,"date":"2025-03-20T19:16:12","date_gmt":"2025-03-20T19:16:12","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125491"},"modified":"2025-03-20T19:16:12","modified_gmt":"2025-03-20T19:16:12","slug":"zachxbt-says-he-unmasked-mysterious-50x-hyperliquid-whale","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125491","title":{"rendered":"ZachXBT says he unmasked mysterious 50x Hyperliquid whale"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsOnchain sleuth ZachXBT said he had identified the mysterious whale who profited $20 million from highly leveraged trades on Hyperliquid and GMX as a British hacker going by the name William Parker.\u00a0<br \/>\nAccording to ZachXBT\u2019s March 20 X post, Parker \u2014 who was previously known as Alistair Packover before changing his name \u2014 was arrested last year for allegedly stealing around $1 million from two casinos in 2023.\u00a0<br \/>\nParker also made headlines a decade ago for allegations of hacking and gambling, ZachXBT said.<br \/>\n\u201cIt is abundantly clear WP\/AP has not learned his lesson over the years after serving time for fraud and will likely continue gambling,\u201d ZachXBT said.<br \/>\nSource: ZachXBTRelated: Hyperliquid ups margin requirements after $4 million liquidation loss<br \/>\nZachXBT said his findings are based on a phone number provided by a person who allegedly received a payment from the whale trader\u2019s wallet address.\u00a0<br \/>\nHe also said that public wallet addresses associated with the whale trader received proceeds from past onchain phishing schemes.<br \/>\nCointelegraph has not independently verified ZachXBT\u2019s claims.\u00a0<br \/>\nMassive leveraged bets<br \/>\nThe mysterious whale rose to prominence after profiting approximately $20 million from highly leveraged trades \u2014 in some cases with up to 50x leverage \u2014 on decentralized perpetuals exchanges Hyperliquid and GMX.\u00a0<br \/>\nOn March 12, the trader intentionally liquidated an approximately $200 million Ether (ETH) long, causing Hyperliquid\u2019s liquidity pool to lose $4 million.\u00a0<br \/>\nMeanwhile, the whale earned profits of some $1.8 million.<br \/>\nHyperliquid said the liquidation was not an exploit but rather a predictable consequence of how the trading platform operates under extreme conditions.\u00a0The DEX later revised its collateral rules for traders with open positions to guard against such occurrences in the future.\u00a0<br \/>\nOn March 14, the whale took another multimillion-long position, this time on Chainlink (LINK).<br \/>\nPerpetual futures, or \u201cperps,\u201d are leveraged futures contracts with no expiry date. Traders deposit margin collateral \u2014 typically USDC (USDC) for Hyperliquid \u2014 to secure open positions.\u00a0<br \/>\nMagazine: \u2018Hong Kong\u2019s FTX\u2019 victims win lawsuit, bankers bash stablecoins: Asia Express<a href=\"https:\/\/cointelegraph.com\/news\/zachxb-unmasked-mysterious-50x-hyperliquid-whale?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsOnchain sleuth ZachXBT said he had identified the mysterious whale who profited $20 million from highly leveraged trades on Hyperliquid and GMX as a British hacker going by&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125491"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125491"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125491\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125491"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}