ZachXBT, a well-known on-chain investigator has revealed the identity of the “Hyperliquid 50x leverage whale,” revealing the trader as a cybercriminal leveraging stolen funds. This individual, who has made a profit of approximately $20 million through high-leverage trades on platforms like Hyperliquid and GMX, has become a focal point of controversy in the crypto community.
Why is this Whale so Famous?
The trader has gained attention for two major trades in March 2025, a $10 million profit from a 50x leveraged Ethereum and Bitcoin long position timed with Donald Trump’s crypto reserve announcement, and a $9 million from a 40x Bitcoin short.
Despite speculations about ties to North Korea’s Lazarus Group, ZachXBT clarified no such connection exists. Instead, the funds were traced to phishing schemes, wallet-draining malware, and shady online casinos.
ZachXBT linked the whale’s wallet addresses to platforms such as Roobet, Binance and Alphapo, as well as phishing schemes like projection.fi. One wallet, 0x7ab8, received funds from phishing exploits and was traced back to Solana casino withdrawals tied to an input validation exploit.
ZachXBT Reveals the True Identity of the Whale
On analyzing further more, it was found that the whale operating under the pseudonym @qwatio on X signed messages confirming their $20 million profits. The account showed signs of being purchased recently, raising doubts and suspicions.
As a UK phone number linked to payments by the whale identified the individual as William Parker, formerly Alistair Packover, a convicted fraudster with a history of hacking and gambling-related crimes.
This revelation indicates the risk posed by high-leveraged trading and the misuse of decentralized platform for laundering stolen funds. This incident just indicates the need of stricter regulations in the crypto industry as regulators and forensic teams intensifies scrutiny of such activities.
Also Read: Bithumb Under Investigation Amid Financial Misconduct Claims
