- ZachXBT has blasted the “Hyperliquid 50x leverage whale” as “a cybercriminal gambling with stolen funds.”
- The whale netted a $9 million revenue regardless of efforts by crypto merchants to liquidate the place.
- ZachXBT has beforehand unmasked unhealthy actors and recognized hackers, together with these behind the Bybit hack in February 2025
On-chain investigator ZachXBT says the “Hyperliquid 50x leverage whale” that has attracted large consideration throughout X is “just a cybercriminal gambling with stolen funds.”
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 revenue.
Regardless of efforts by crypto Twitter to marshal a liquidation for the Hyperliquid whale, the dealer emerged unscathed – but once more.
Hyperliquid 50x whale a felony – ZachXBT says
ZachXBT commented on this, revealing who the whale is and isn’t. He shared the investigative view by way of X:
“It’s funny watching CT speculate on the “Hyperliquid whale” when in actuality it’s only a cybercriminal playing with stolen funds.”
Replying to a consumer remark, ZachXBT famous that the felony whale has no hyperlinks to the North Korea-backed Lazarus Group. In February this 12 months, the blockchain sleuth linked the $1.5 billion Bybit hack to the hacker group.
Some X customers requested that ZachXBT names and shames the Hyperliquid whale. Nonetheless, his response was:
“We’ll see, it’s just not enjoyable posting investigations on X/Twitter anymore.”
Crypto ‘hunted’ for the mysterious whale
For weeks, the crypto market 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 value 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 most merchants trying to wreck the whale’s place with a flurry of shopping for offers. In truth, in keeping with Lookonchain, the whale needed to deposit $5 million USDC “to increase margin and avoid liquidation.”
However the effort to wreck the whale finally 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.
Whereas 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 funds making it again into circulation by way of decentralized finance protocols stays. It additionally factors to the general affect of large leverage available on the market, notably when criminals faucet into high-leverage trades to gamble stolen funds.
Though this specific whale’s identification could curiosity the broader ecosystem, the large query going ahead is how does crypto reign on this doubtlessly impactful state of affairs.