Key Takeaways:
- Blockchain sleuth ZachXBT claims British hacker William Parker, previously arrested for fraud, is behind the $20M Hyperliquid whale.
- Parker allegedly profited from 50x leveraged trades and was tied to phishing proceeds through onchain evidence.
- A $200M ETH liquidation by the whale caused a $4M loss to Hyperliquid, prompting changes to platform collateral rules.
Blockchain sleuth ZachXBT claims to have identified the mysterious trader who earned $20 million through high-leverage trades on decentralized exchanges Hyperliquid and GMX as British hacker William Parker, formerly known as Alistair Packover.
In a March 20 post, ZachXBT alleged Parker has a long history of cybercrime and fraud, including a 2023 arrest for stealing $1 million from two casinos and earlier involvement in hacking and gambling schemes.
10/ Who is William Parker?
— ZachXBT (@zachxbt) March 20, 2025
Last year WP was arrested for stealing ~$1M from two casinos in 2023 and was sentenced in Finland.
Prior to this WP was known as Alistair Packover (William Peckover) before later changing his name.
In the early 2010s AP made multiple news headlines… pic.twitter.com/4QxHS5ziXJ
The investigator linked Parker to the whale’s wallet through a connected phone number and onchain evidence, including transactions tied to phishing schemes.
The trader gained notoriety for using extreme leverage—up to 50x—on platforms like Hyperliquid.
Notably, on March 12, he triggered a $200 million Ether long position liquidation, resulting in a $4 million loss for Hyperliquid’s liquidity pool, while securing $1.8 million in profit.
Hyperliquid clarified the event was not an exploit but a consequence of platform mechanics, and they’ve since tightened collateral rules.
Just two days later, the whale opened another major position, this time on Chainlink (LINK).
These events highlight the risks of aggressive trading strategies in decentralized finance (DeFi), especially involving perpetual futures—highly leveraged contracts with no expiration date.
Traders typically use USDC as margin collateral on platforms like Hyperliquid to maintain open positions.
The case underscores the need for stronger risk management and platform safeguards in the growing DeFi trading landscape.
About The Author
Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
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