- ZachXBT has blasted the “Hyperliquid 50x leverage whale” as “a cybercriminal playing with stolen price range.”
- The whale netted a $9 million benefit regardless of efforts via crypto buyers to liquidate the location.
- ZachXBT has prior to now unmasked unhealthy actors and known hackers, together with the ones in the back of the Bybit hack in February 2025
On-chain investigator ZachXBT says the “Hyperliquid 50x leverage whale” that has attracted large consideration throughout X is “only a cybercriminal playing with stolen price range.”
The on-chain sleuth’s remark got here because the whale closed their high-leverage buying and selling place, 50x, with a notable $9 million benefit.
Regardless of efforts via crypto Twitter to marshal a liquidation for the Hyperliquid whale, the dealer emerged unscathed – all over again.
Hyperliquid 50x whale a felony – ZachXBT says
ZachXBT commented in this, revealing who the whale is and isn’t. He shared the investigative view by way of X:
“It’s humorous observing CT speculate at the “Hyperliquid whale” when actually it’s only a cybercriminal playing with stolen price range.”
Replying to a consumer remark, ZachXBT famous that the felony whale has no hyperlinks to the North Korea-backed Lazarus Staff. In February this 12 months, the blockchain sleuth connected the $1.5 billion Bybit hack to the hacker workforce.
Some X customers requested that ZachXBT names and shames the Hyperliquid whale. On the other hand, his reaction used to be:
“We’ll see, it’s simply no longer relaxing posting investigations on X/Twitter anymore.”
Crypto ‘hunted’ for the mysterious whale
For weeks, the crypto marketplace has speculated on who the mysterious Hyperliquid whale could also be. A hunt for his or her identification and efforts to tug them down surfaced.
This hunt for the dealer who opened a brief place price about $450 million on Bitcoin (BTC) intensified on Tuesday.
Amid the frenzy to liquidate him, analysts pointed to the whale’s 40x and 50x shorting of BTC and ETH as large. The response had maximum buyers having a look to damage the whale’s place with a flurry of shopping for offers. If truth be told, consistent with Lookonchain, the whale needed to deposit $5 million USDC “to extend margin and keep away from liquidation.”
However the effort to damage the whale in the end failed.
https://twitter.com/lookonchain/standing/1901897383358992704
In addition to th 50x brief leveraged place on Ethereum (ETH), this whale additionally shorted Chainlink (LINK), opening an enormous $31 million place with 10x leverage. The whale has additionally positioned brief bids on GMX.
Whilst ZachXBT clarified this whale isn’t tied to North Korea, the incident highlights the problem the crypto group faces amid unhealthy actor incidents.
The problem of stolen price range making it again into move by way of decentralized finance protocols stays. It additionally issues to the total have an effect on of big leverage available on the market, in particular when criminals faucet into high-leverage trades to gamble stolen price range.
Even supposing this actual whale’s identification might hobby the wider ecosystem, the massive query going ahead is how does crypto reign on this probably impactful situation.