Who Is the 50X Hyperliquid Whale? ZachXBT Has the Answer

ZachXBT’s investigation claims that the mysterious 50X Hyperliquid whale is actually a British cyber criminal named William Parker (formerly known as Alistair Packover). Parker has a long history of fraud, hacking, and casino theft.

This trader made headlines by profiting roughly $20 million from a series of highly leveraged trades

Who is William Parker, AKA the 50X Hyperliquid Whale?

The “50X Hyperliquid Whale” is the nickname given to a trader known for using extremely high leverage—up to 50x—on decentralized perpetual futures platforms like Hyperliquid and GMX. 

William Parker is a British cyber criminal with a long track record in hacking and fraud. 

“I tracked down a recent payment from  0xe4d3 to an unnamed person who confirmed they had been paid by the Hyperliquid trader. They provided a UK phone number used to communicate with them. Public record reveals the name William Parker is likely tied to this number,” wrote ZachXBT. 

He was arrested in 2023 for allegedly stealing around $1 million from two casinos. Even after serving time, Parker continued his illicit activities. 

Reportedly, he has been using phishing scams and other techniques to acquire funds. He later leveraged these in high-stakes crypto trading.

William Parker, AKA Alistair Packover. Source: BBC

So, how did he actually make $20 million in a very short time? The answer is ‘using leverage’. 

Understanding 50x Hyperliquid Trades

In crypto, leverage means borrowing funds to increase the size of your trading position. In this case, the whale used up to 50× leverage. This means that even a small favorable move in an asset’s price could multiply his profits many times over. 

For example, if he had a 50× leveraged position and the price moved 2% in his favor, that 2% swing could translate into about a 100% gain on his original investment.

“A whale who opened a $450 million short position on btc with 40x leverage closed all their trades, making a $9.46M profit in 8 days. Although this person is referred to as a “Hyperliquid whale,” they are actually a criminal, gambling with stolen funds,” wrote Web3 attorney Langerius.

The trader, William Parker, as revealed by ZachXBT, opened very large positions in cryptocurrencies like Bitcoin and Ether during volatile market moments. 

He timed his trades when the market was moving rapidly earlier this month due to the whole White House Crypto Summit and Bitcoin reserve saga. 

The volatile market sentiment allowed him to move around big events or sudden price changes.

“When a whale shorts over $450 million in BTC and wants a public audience, it’s only possible on Hyperliquid. Anyone can photoshop a PNL screenshot. No one can question a Hyperliquid position, just like no one can question a Bitcoin balance. The decentralized future is here,” Hyperliquid wrote on X (formerly Twitter).

How Did Parker’s Leveraged Trades Affect the Market?

In some cases, his massive trades also forced other traders into liquidation. When a trader’s position is liquidated, the system sells its assets at a loss to cover the borrowed funds. 

This boosted the whale’s gains and also disrupted the market. Although using 50× leverage is extremely risky, Parker managed his trades carefully.

His strategy was successful enough that he reportedly made around $20 million from these high-stakes moves.

The post Who Is the 50X Hyperliquid Whale? ZachXBT Has the Answer appeared first on BeInCrypto.