Distinguished on-chain investigator ZachXBT has claimed that William Parker, a UK man linked to a $1 million on line casino theft and former hacking scandals, is the mysterious Hyperliquid whale.
The entity allegedly manipulated crypto markets, profiting round $20 million utilizing extremely leveraged positions.
Shady Trades and Suspicious Earnings
In a thread on X, ZachXBT detailed how the whale’s preliminary funding got here from an enter validation exploit on a on line casino sport. The exploiter apparently negotiated payouts through a now-deleted Telegram account, which ZachXBT linked to Parker’s UK cellphone quantity.
Previously referred to as Alistair Packover, Parker’s legal historical past dates again to the early 2010s when he confronted fraud prices within the UK for hacking and gambling-related crimes. Final yr, he was arrested in Finland for stealing $903,000 from two on-line casinos by manipulating sport outcomes.
The whale gained notoriety in March after executing two large leveraged trades. The primary was a 50x leveraged Ethereum and Bitcoin lengthy place, leading to a $10 million achieve simply earlier than U.S. President Donald Trump signed an government order to create a Strategic Bitcoin Reserve and altcoin stockpile.
One other quick place on BTC with 40x leverage earned the purported fraudster an additional $9 million.
Including to the controversy, the dealer liquidated a $340 million ETH lengthy place on Hyperliquid, strolling away with some $1.8 million in revenue whereas inflicting a $4 million dent within the platform’s HLP vault. Initially, there had been rumors that an exploit on Hyperliquid induced the loss, however the trade shortly clarified that it was the predictable consequence of how its methods function underneath excessive circumstances.
ZachXBT’s investigations related the whale’s deal with to numerous suspicious accounts on platforms like Roobet, Binance, and Gamdon. The sleuth recognized the cluster of wallets tied to the whale, together with one which acquired $17,100 from a phishing drainer earlier within the yr. He additionally shared screenshots of the dealer admitting on X to creating $20 million by GMX and Hyperliquid trades.
Market Response
Following ZachXBT’s publicity, HYPE, a Hyperliquid ecosystem token, skilled sharp volatility. At one level, it dropped sharply from an intra-day excessive of $15.11 to a low of $14.04. Nevertheless, it recovered considerably, climbing to about $14.41. On the time of writing, HYPE was down 3.1%, with its month-to-month losses amounting to just about 40%.
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