Source: Cointelegraph Original: "{title}"
On-chain detective ZachXBT has identified a mysterious whale who made a profit of $20 million through high-leverage trading on Hyperliquid and GMX, whose identity is a British hacker named William Parker.
According to ZachXBT's post on X on March 20, Parker—previously known as Alistair Packover, later changed his name—was arrested last year for allegedly stealing about $1 million from two casinos in 2023.
ZachXBT also noted that Parker made headlines ten years ago for hacking and gambling charges.
He stated, "Clearly, WP/AP has not learned his lesson after serving time and may continue to gamble."
Source: ZachXBT
ZachXBT mentioned that his discovery was based on a phone number of a person who allegedly received payments from the whale trader's wallet address.
He also indicated that the public wallet address associated with the whale trader had received funds from past on-chain phishing schemes.
Cointelegraph has not independently verified ZachXBT's claims.
Massive Leverage Bets
This mysterious whale has drawn widespread attention after profiting approximately $20 million from high-leverage trading on the decentralized perpetual exchanges Hyperliquid and GMX—leveraging up to 50 times in some cases.
On March 12, the trader intentionally closed a long position of about $200 million in Ethereum (ETH), resulting in a $4 million loss for Hyperliquid's liquidity pool.
Meanwhile, the whale earned about $1.8 million in profit.
Hyperliquid stated that this liquidation was not an exploit but a predictable consequence of the trading platform operating under extreme conditions. The decentralized exchange (DEX) later revised the collateral rules for traders with open positions to prevent such incidents from happening again.
On March 14, the whale executed another multi-million dollar long position, this time on Chainlink (LINK).
Perpetual futures, or "perps," are leveraged futures contracts with no expiration date. Traders need to deposit margin collateral—usually USDC for Hyperliquid—to secure their open positions.
Related: Hyperliquid falls victim to flash attacks, "pulling the plug" to save itself, while CEX enters to stabilize the market or stab from behind?
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