ZachXBT Claims to Identify Mysterious 50x Hyperliquid Whale as British Hacker
Onchain investigator ZachXBT has reportedly identified the mysterious whale trader who profited around $20 million from highly leveraged trades on decentralized exchanges Hyperliquid and GMX. According to ZachXBT, the trader is a British hacker named William Parker, previously known as Alistair Packover.
Background of the Alleged Whale Trader
In a March 20 post on X (formerly Twitter), ZachXBT revealed that Parker was arrested last year for allegedly stealing approximately $1 million from two casinos in 2023. Parker has a history of hacking and gambling allegations dating back a decade.
ZachXBT stated:
“It is abundantly clear WP/AP has not learned his lesson over the years after serving time for fraud and will likely continue gambling.”
Evidence Presented by ZachXBT
ZachXBT’s identification is based on:
- A phone number provided by an individual who allegedly received payments from the whale trader’s wallet address.
- Public wallet addresses linked to the whale trader, which reportedly received proceeds from past onchain phishing schemes.
Cointelegraph has not independently verified these claims.
Massive Leveraged Trades and Hyperliquid Incident
The whale trader gained notoriety after making substantial profits from highly leveraged trades—up to 50x leverage—on decentralized perpetual exchanges Hyperliquid and GMX.
- On March 12, the trader intentionally liquidated a $200 million Ether (ETH) long position, causing Hyperliquid’s liquidity pool to lose $4 million, while the trader profited approximately $1.8 million.
- Hyperliquid clarified the liquidation was not an exploit but a predictable outcome under extreme market conditions. The exchange subsequently revised its collateral rules to prevent similar incidents.
- On March 14, the whale opened another multimillion-dollar leveraged long position, this time on Chainlink (LINK).
What Are Perpetual Futures?
Perpetual futures (“perps”) are leveraged futures contracts without expiry dates. Traders deposit margin collateral—typically stablecoins like USDC—to secure open positions.
Quick Summary
- ZachXBT identifies mysterious whale trader as British hacker William Parker.
- Parker previously arrested for casino theft and has a history of hacking allegations.
- Trader profited $20 million from leveraged trades on Hyperliquid and GMX.
- Hyperliquid lost $4 million due to intentional liquidation by the whale.
- Exchange updated collateral rules to prevent future incidents.
