Hyperliquid 50x leverage whale is cybercriminal gambling stolen funds: ZachXBT
- ZachXBT has blasted the Hyperliquid 50x leverage whale as a cybercriminal gambling with stolen funds.
- The whale netted a $9 million profit despite efforts by crypto traders to liquidate the position.
- ZachXBT has previously unmasked bad actors and identified hackers, including those behind the Bybit hack in February 2025
On-chain investigator ZachXBT says the Hyperliquid 50x leverage whale that has attracted massive attention across X is just a cybercriminal gambling with stolen funds.
The on-chain sleuths comment came as the whale closed their high-leverage trading position, 50x, with a notable $9 million profit.
Despite efforts by crypto Twitter to marshal a liquidation for the Hyperliquid whale, the trader emerged unscathed yet again.
Hyperliquid 50x whale a criminal ZachXBT says
ZachXBT commented on this, revealing who the whale is and is not. He shared the investigative view via X:
Its funny watching CT speculate on the Hyperliquid whale when in reality its just a cybercriminal gambling with stolen funds.
Replying to a user comment, ZachXBT noted that the criminal whale has no links to the North Korea-backed Lazarus Group. In February this year, the blockchain sleuth linked the $1.5 billion Bybit hack to the hacker group.
Some X users asked that ZachXBT names and shames the Hyperliquid whale. However, his response was:
Well see, its 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 may be. A hunt for their identity and efforts to drag them down surfaced.
This hunt for the trader who opened a short position worth about $450 million on Bitcoin (BTC) intensified on Tuesday.
Amid the rush to liquidate him, analysts pointed to the whales 40x and 50x shorting of BTC and ETH as massive. The reaction had most traders looking to wreck the whales position with a flurry of buying deals. In fact, according to Lookonchain, the whale had to deposit $5 million USDC to increase margin and avoid liquidation.
But the effort to wreck the whale ultimately failed.
https://twitter.com/lookonchain/status/1901897383358992704
As well as th 50x short leveraged position on Ethereum (ETH), this whale also shorted Chainlink (LINK), opening a huge $31 million position with 10x leverage. The whale has also placed short bids on GMX.
While ZachXBT clarified this whale isnt tied to North Korea, the incident highlights the challenge the crypto community faces amid bad actor incidents.
The issue of stolen funds making it back into circulation via decentralized finance protocols remains. It also points to the overall impact of massive leverage on the market, particularly when criminals tap into high-leverage trades to gamble stolen funds.
Although this particular whales identity may interest the broader ecosystem, the big question going forward is how does crypto reign in this potentially impactful scenario.
The post Hyperliquid 50x leverage whale is cybercriminal gambling stolen funds: ZachXBT appeared first on CoinJournal.
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