An infamous trader known as the ‘Hyperliquid whale’ has publicly defended himself against cybercrime allegations made by on-chain investigator ZachXBT.

ZachXBT on Tuesday accused the crypto whale, now operating under the X handle @qwatio and using the name MELANIA, of cybercriminal activity.

An infamous trader, publicly known for massive leveraged positions and being the subject of attempted "short squeezes," has defended himself against cybercrime allegations made by on-chain investigator ZachXBT.

The claims came after the trader, who is now operating under the X handle @qwatio and uses the name MELANIA, opened a $445 million short position on Bitcoin (BTC) with 40x leverage. This position drew market attention and led to an attempt to "short squeeze" the trader, which ultimately failed.

The crypto whale avoided liquidation despite being aggressively "hunted" and closed the position with over $9 million in profit on Tuesday.

Massive Bitcoin short position closed in profit as Hyperliquid is no more.

The handles will be changing back, the Bitcoin price is going up again, and the community can return to being obsessed with pointless shit.

Stay tuned for more. 😉

— ZachXBT (@ZachXBT) September 6, 2023

While the community was intrigued by the so-called 'Hyperliquid whale', this individual was merely gambling with illicit funds, according to the analyst, who did not disclose the trader's identity and confirmed there was no connection to the Lazarus Group.

On Wednesday, Hyperliquid took to X to challenge the claims made by the crypto analyst. The trader directly confronted ZachXBT's assertions that he was engaging in high-leverage trades using stolen funds.

"RE: Baseless speculations circulating about me using “stolen funds” for high-leverage trades, challenge him to be specific about which stolen funds he's referring to," the trader stated.

The trader went on to highlight the vast number of diverse transactions his wallet had received.

"My main wallet has received over 10k transactions from DeFi protocols, DEXes, and various other sources throughout the years, with a multi-billion dollar volume in total."

In response, ZachXBT stated that he will release detailed evidence at 1 PM UTC tomorrow.

The investigator also shared preliminary evidence indicating that Hyperliquid's X account was recently acquired.

"Looks like this account was just acquired as they're still learning the platform. This is Hyperliquid, not someone impersonating him. I'll be posting the full analysis tomorrow at 1 PM UTC."

The post Key Takeaways appeared first on Key Takeaways.input: A crypto trader, known for his massive leveraged positions and being the subject of attempted "short squeezes," has defended himself against cybercrime allegations made by on-chain investigator ZachXBT.

The claims came after the trader, who is now operating under the X handle @qwatio and uses the name MELANIA, opened a $445 million short position on Bitcoin (BTC) with 40x leverage, betting on a price decline.

This position drew attention and led to an attempt by other traders to "short squeeze" the trader, which ultimately failed. The crypto whale avoided liquidation despite being aggressively "hunted" and closed the position with over $9 million in profit on Tuesday.

Massive Bitcoin short position closed in profit as Hyperliquid is no more.

The handles will be changing back, the Bitcoin price is going up again, and the community can return to being obsessed with pointless shit.

Stay tuned for more. 😉

— ZachXBT (@ZachXBT) September 6, 2023

While the community was intrigued by the so-called 'Hyperliquid whale', this individual was merely gambling with illicit funds, according to the analyst, who did not reveal the trader's identity and confirmed there was no connection to the Lazarus Group.

On Wednesday, Hyperliquid took to X to challenge the claims made by the crypto analyst. The trader directly confronted ZachXBT's assertions that he was engaging in high-leverage trades using stolen funds.

"RE: Baseless speculations circulating about me using "stolen funds" for high-leverage trades, challenge him to be specific about which stolen funds he's referring to," the trader stated.

The trader went on to highlight the vast number of diverse transactions his wallet had received.

"My main wallet has received over 10k transactions from DeFi protocols, DEXes, and various other sources throughout the years, with a multi-billion dollar volume in total."

In response, ZachXBT stated that he will release detailed evidence at 1 PM UTC tomorrow.

The investigator also shared preliminary evidence indicating that Hyperliquid's X account was recently acquired.

"Looks like this account was just acquired as they're still learning the platform. This is Hyperliquid, not someone impersonating him. I'll be posting the full analysis tomorrow at 1 PM UTC."

The post Hyperliquid Defends Himself Against Cybercrime Claims Made by On-Chain Investigator appeared first on Key Takeaways.output: A well-known crypto trader, who is often the subject of attempted “short squee