An investigation has revealed that the secretive crypto trader known as Hyperliquid Whale, who made millions on the market, is William Parker, a convicted fraudster.
The Rise of the Hyperliquid Whale
For weeks, the crypto community watched a trader make significant trades with high leverage. This trader gained attention after two especially profitable transactions: $10 million on a 50x leveraged long and $9 million on a 40x short position, sparking interest among analysts.
Investigation and Findings
ZachXBT's investigation linked Parker to transactions involving various online casinos and phishing schemes. A key finding was that Parker used funds stolen from a casino exploit to finance risky trades.
Financial Schemes and Market Impact
Parker's strategy of using high leverage enabled him to make trades worth tens of millions. However, these actions led to losses for some trading platforms, notably Hyperliquid, which reported a $4 million loss due to his operations.
The exposure of the Hyperliquid Whale's identity raises the question of the need for regulatory oversight of such operations by relevant authorities.
