On Tuesday, an infamous trader nicknamed the "Hyperliquid whale" closed a leveraged short bitcoin position of over half a billion dollars on the decentralized perpetual trading platform.
Blockchain analytics platform Spot On Chain identified the trader's wallet address as "0xf3F…7057c." The wallet had a short position of 6,210 BTC ($520 million) with a 40x leverage, using $8 million in actual funds. On Tuesday, the trader exited the position with over $9.4 million profit, data from block explorer Hypurrscan shows.
The same person is believed to have previously built a long position in ether, reaching over $300 million last week. This position was later liquidated, leaving Hyperliquid's HLP (Hyperliquidity Provider) vault with a $4 million loss.
According to Hypurrscan data, "0xf3F…7057c" currently holds a 5x long position on the Melania memecoin worth $3.3 million.
Meanwhile, blockchain sleuth ZachXBT claimed on X that this trader could be a cybercriminal. "It’s funny watching CT speculate on the “Hyperliquid whale” when in reality it’s just a cybercriminal gambling with stolen funds," he commented.
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