The cryptocurrency world was recently shaken by an explosive revelation from renowned blockchain investigator ZachXBT concerning the recent trending HyperLiquid Whale.
The so-called “HyperLiquid Whale,” a trader who amassed nearly $20 million in profits through high-leverage trading, has been identified as William Parker, a convicted fraudster with a long history of financial crimes.
Who Is The HyperLiquid Whale?
For weeks, the identity of the HyperLiquid Whale remained a mystery, and speculation ran wild. In fact, Justin Sun, the founder of Tron, bid to uncover the identity.
Some believed the trader was an elite market player with deep institutional knowledge, while others suspected involvement from North Korean hacking groups like Lazarus.
However, ZachXBT’s investigation painted a far darker picture, one of deception, exploitation, and a continued cycle of criminality.
According to the detailed findings, Parker used illicitly obtained funds from phishing scams, and casino exploits to gamble on high-risk trades on platforms like Hyperliquid and GMX.
His bold moves included a 50x leveraged long position on Ethereum and Bitcoin, executed just before Donald Trump’s major crypto policy announcement, which netted him a staggering $10 million profit.
Another 40x leveraged short on Bitcoin earned him an additional $9 million, cementing his status as one of the most talked-about traders in the space.
However, these seemingly genius trades were not the product of market acumen but rather a high-stakes gamble fueled by illicit wealth.
A Fraudulent Past: The Making of the HyperLiquid Whale
William Parker’s history of financial crimes stretches back over a decade. Previously known as Alistair Packover (or William Peckover), Parker has been involved in numerous fraudulent schemes, primarily related to gambling and hacking.
His name first made headlines in the UK during the early 2010s, where he was charged with multiple counts of fraud. Despite serving time for his crimes, Parker appears to have learned little from his past mistakes.
Last year, he was arrested and sentenced in Finland for stealing approximately $1 million from two casinos in 2023.
His modus operandi involved exploiting input validation weaknesses in casino games, allowing him to siphon funds undetected.
Once he secured the illicit money, he quickly funneled it through various crypto exchanges and decentralized platforms, obscuring its origins before engaging in high-stakes trading.
ZachXBT’s investigation revealed that Parker’s activities were deeply intertwined with multiple gambling and crypto platforms, including Roobet, Binance, Gamdom, ChangeNOW, Shuffle, Alphapo, BC Game, and Metawin.
His trading accounts were linked to a network of wallets involved in phishing scams, and he had received significant funds from known exploiters before making his headline-grabbing trades on Hyperliquid.
Further analysis of Parker’s online presence uncovered attempts to cover his tracks.
The X (formerly Twitter) account associated with his trading activity, @qwatio, had been inactive for years before being repurposed to post about his supposed trading success.
Additionally, he had connections to accounts promoting phishing schemes, further cementing the notion that his gains were anything but legitimate.
The Broader Implications for Crypto Security
ZachXBT, who has long been at the forefront of exposing illicit activity in the space, emphasized the industry’s dire state, highlighting how hacks, phishing attacks, and fraud continue to thrive.
In recent months, ZachXBT has been instrumental in helping freeze funds linked to the Bybit hack, describing the experience as “eye-opening.”
Source: Investigations by ZachXBT – TG
He noted that many so-called “decentralized” protocols are heavily compromised, with some having nearly 100% of their transaction volume tied to illicit actors.
Moreover, he criticized centralized exchanges for their sluggish response to fraudulent transactions, pointing out that criminals can launder funds within minutes. In contrast, exchanges often take hours or even days to act.
A particularly alarming revelation from ZachXBT was the scale of North Korean cybercriminal activity within the crypto sector.
According to his estimates, hackers from the rogue state have successfully laundered over $1.4 billion from various exploits.
He also questioned the utility of Know Your Customer (KYC) and Know Your Transaction (KYT) protocols, arguing that they serve as bureaucratic hurdles for legitimate users rather than effective deterrents against bad actors.
For now, Parker’s illicitly gained fortune sits in a wallet flagged by investigators. Whether he will face legal repercussions remains uncertain.
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