ZachXBT Reveals Identity of Hyperliquid Whale

According to a recent series of X posts, ZachXBT, a blockchain researcher, named William Parker as the trader behind the whale wallet.

Blockchain investigator ZachXBT has finally uncovered the identity of the mysterious Hyperliquid whale who recently profited massively.

The trader, known for opening multiple highly leveraged positions on Hyperliquid and GMX, has been a subject of interest since March 2025.

Hyperliquid Announces Changes to Maximum Leverage and Maintenance Margin

The platform is making adjustments to its risk management policies following the loss of funds from one of its vaults.

Hyperliquid is updating the maximum leverage on Bitcoin (BTC) and Ethereum (ETH) to 40x and 25x, respectively. It is also increasing maintenance margin requirements for larger positions.

These changes are aimed at preventing similar moves by traders who open highly leveraged positions, which could lead to the loss of vault funds.

The adjustments are a direct response to the risks associated with high-leverage trades, especially those that involve significant amounts of borrowed capital.

The maintenance margin will be adjusted according to the tier of the user, explained Hyperliquid.

For instance, for tiers 1 to 3, the maintenance margin will be 5% to 8%, while for tiers 4 to 6, it will be set at 3% to 5%.

The platform explained that the goal is to "minimize risk to the platform and ensure sustainable operations."

Hyperliquid Updates on Reported Hack and User Losses

Earlier this week, reports emerged of a trader opening a large ETH and BTC long position on 50X leverage ahead of a major crypto-related announcement.

The trader, linked to wallet 0xe4d3, reportedly lost around $4 million of one of Hyperliquid's vaults due to a large swap from BTC to ETH.

This massive swapping led to discussions among the platform's users about a possible hack.

However, Hyperliquid clarified that there was no breach of protocol that led to the losses. Instead, they explained that the trader withdrew their cash and reduced the margin to the maintenance level.

This ultimately led the trader to gain $1.8 million on the transaction, while the vault lost $4 million.

The platform stated that it is closely monitoring the situation and will take appropriate action if needed.

"We are in constant communication with the relevant parties and cooperating fully with any investigation," said Hyperliquid in a statement.

"We are committed to ensuring the integrity and security of our platform."

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