A mysterious merchant, who made $ 20 million from leverages on hyperliquidal and GMX, was identified as William Parker, a British pirate with a history of financial crimes. The involvement of Parker in the suspicious negotiation activity was exposed by the investigator of Crypto Zachxbt. In a post X, the investigator explains his conclusions, in particular the past participation of Parker in hacking, the flight of Casino and the Phishing of Onchain.
Mysterious whale identified as a British pirate
According to Zachxbt, the mysterious trader, who has made at least $ 20 million in leverage in hyperliquid and GMX, is William Parker.
The Crypto investigator notes that Parker is a British pirate with a history of financial crimes. According to Zachxbt, the British pirate was reserved last year for stolen no less than a million dollars in two casinos.
It was not the first time he was reserved for a crime of this nature.
Zachxbt reveals that the same British pirate was arrested ten years ago for piracy and game.
Stressing the incessant nature of this pirate, the cryptographic investigator quips that it is clear that the pirate has not learned his lesson over the years.
How Zachxbt connected Parker to the whale
Zachxbt reveals that it was a phone number that helped him expose the connection between Parker and the leverages suspicious.
He claims that the telephone number was provided by a person who had previously received a payment from the portfolio of the whale merchant.
The crypto investigator also alleges that certain public portfolio addresses linked to the trader of whales received the product of past projects of Onchain phishing.
However, complaints made by Zachxbt have not yet been verified independently.
The response of the liquidation and hyperliquid of $ 200 million
The mysterious trader had a 200 million dollars bet that the price of ether would increase on the hyperliquid. The whale then intentionally caused the liquidation of their own $ 200 million position. This means that the exchange has automatically sold Ether to cover potential losses.
This massive liquidation caused $ 4 million to hyperliquidal dollars. Even if it caused a big loss for the platform, the whale still made around 1.8 million dollars from this action. This is due to the size of the trade and the way in which the costs and the price movement have interacted.
Hyperliquid said it was not a hack. It was the result of how their system worked in extreme negotiation conditions. To prevent this from happening again, hyperliquid has changed its rules for the quantity of collateral merchants to keep in their accounts, especially for important positions.
In particular, after the liquidation of the ether, the whale continued to exchange and opened a new long position on ChainLink.
In conclusion, William Parker’s exhibition as a whale of $ 20 million highlights risks in cryptographic space, where hackers can exploit for -purpose trading strategies. Exchanges such as the hyperliquide tighten their safety measures, but questions remain on how bad players continue to operate unteashed.
