A mysterious trader known as the “Hyperliquid whale,” who profited approximately $20 million through high- leverage crypto trades, has been linked to illicit activities, including casino exploits and phishing schemes, according to an investigation by onchain sleuth ZachXBT.
ZachXBT Exposes Hyperliquid Whale’s $20M Profits From Illicit Funds and Casino Exploits
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From Casino Exploits to Crypto Gains: Hyperliquid Whale’s $20M Journey Exposed
A recent investigation by onchain analyst ZachXBT has uncovered the alleged identity and activities of a high-profile trader known as the “Hyperliquid whale,” who amassed roughly $20 million in profits through highly leveraged crypto trades over the past few months.
The trader, who operated under the wallet address 0xf3f, gained notoriety for two significant onchain trades: a $10 million profit from a 50X leveraged ethereum and bitcoin ( BTC) long position just before a major crypto announcement by President Trump, and a $9 million profit from a 40X leveraged bitcoin short position.
ZachXBT traced the whale’s activities to a cluster of wallets linked to various online casinos, including Roobet, Binance, and Gamdom, as well as phishing schemes. One of the wallets was identified as the fee receiver for a phishing site in January 2025. Additionally, the wallet received $17,100 from another phishing operation earlier that month.
Further investigation revealed that the funds used for these high- leverage trades originated from an input validation exploit on a casino game. ZachXBT identified a Telegram account tied to the exploiter, which had posted in GMX-related groups seeking assistance. The account was later deleted, but not before ZachXBT linked it to the Hyperliquid whale’s activities.
The investigation also uncovered a payment from the whale to an individual who provided a UK phone number. Public records tied the number to William Parker, a known fraudster previously arrested for stealing $1 million from two casinos in 2023. Parker, who previously went by the name Alistair Packover, has a history of fraud and gambling-related crimes dating back to the early 2010s.
ZachXBT’s findings suggest that the Hyperliquid whale’s $20 million windfall was built on a foundation of illicit activities, including casino exploits and phishing schemes. At press time on March 20, the trader has a long position on the meme coin MELANIA and hasn’t been targeting BTC or ETH since earlier in the week.
