Mysterious Trader Who Made $20M from Leveraged Trades on Hyperliquid and GMX Has Been Identified as William Parker

A mysterious trader, who made $20 million from leveraged trades on Hyperliquid and GMX, has been identified as William Parker, a British hacker with a history of financial crimes.

Crypto investigator ZachXBT has identified British hacker William Parker as the mysterious trader who made an estimated $20 million from highly leveraged trades on Hyperliquid and GMX.

According to the researcher, the British hacker was last booked for stealing at least $1 million from two casinos in a single year.

The British hacker was previously arrested a decade ago for a combo of hacking and gambling.

“It’s clear William hasn’t learned his lesson over the years. In 2023, he was caught scamming people out of cryptocurrency in an attempt to fund his gambling habit, which eventually led to him being booked for two counts of theft from a casino,” explains.

The investigator, known for his work in exposing crypto scams, claims he was able to connect Parker to the suspicious trading activity through a phone number.

The number was provided by an individual who had previously received a payment from the wallet address of the whale trader, according to ZachXBT.

The crypto investigator further alleges that some public wallet addresses linked to the whale trader were funded by the proceeds of past onchain phishing scams.

However, the claims made by ZachXBT have yet to be verified independently.

Earlier this month, reports surfaced of a mysterious trader who was betting a massive $200 million that the price of Ether would rise on Hyperliquid. The whale then intentionally caused their own position to be liquidated. This means that the exchange automatically sold off their Ether to cover potential losses.

The massive liquidation resulted in Hyperliquid’s pool of money losing $4 million. Despite the substantial loss for the platform, the whale still managed to profit around $1.8 million from this action. This is due to the size of the trade and how the fees and price movement interacted.

Hyperliquid clarified that this was not a hack but occurred due to the way their system functioned under extreme trading conditions. To prevent this from happening again, Hyperliquid is modifying its rules for the required collateral on traders’ accounts, especially for significant positions.

After the Ether liquidation, the whale is seen to be continuing their trading activity and has now opened a new large position, this time long on Chainlink.