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.”

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.

The post HyperLiquid Whale Identified as Convicted Fraudster William Parker — ZachXBT appeared first on Cryptonews.

Europe is solidifying its position as a global leader in the realm of crypto-friendly banking, with over 60 institutions now offering a range of cryptocurrency services.

This surge, highlighted by industry experts like Circle senior director of EU Policy & Strategy Patrick Hansen, marks a significant departure from the more cautious approach seen in other regions, particularly the United States.

“Europe is home to the largest number of crypto-friendly banks in the world,” Hansen stated in a recent X post, emphasizing the continent’s proactive stance.

He further noted that this leadership extends to capital market players, where European institutions are “probably a couple of years ahead.”

The same is true for capital market players too – where European institutions are probably a couple of years ahead.

Example: Deutsche Boerse, the main German stock exchange, will provide $btc and $eth custody.

Plus, both in the EU and in Switzerland, you can now launch fully… https://t.co/7VGXOYuFaW

— Patrick Hansen (@paddi_hansen) March 20, 2025

Europe’s Crypto Banking Outpaces Global Peers

According to Coincub’ latest research, 63 European banks currently offer crypto services – including trading, custody, staking, payments, stablecoins, and banking services for crypto companies – far outpacing other regions.

Standard Chartered UK, BBVA Switzerland, and Barclays UK are major crypto-friendly banks that made massive investments in the crypto landscape last year, as per the report.

This dominance, as Hansen pointed out, is not a matter of chance. It is the result of deliberate regulatory efforts by the European Union to foster competition and innovation within the financial sector.

“It is not because European banks are more risk-taking or innovative, but rather because EU regulations in payments and crypto are creating legal clarity, and, importantly, actively encouraging, not curtailing, competition and innovation in payments,” Hansen explained in his blog article. “It is because non-banks have been allowed to provide e-money and payments services and are seen as an integral building block to preserve innovation and competition in finance.”

Crypto-Friendly Regulation Is a European Advantage

While the US Office of the Comptroller of the Currency (OCC) has only in March this year issued guidance allowing banks to engage in crypto services like custody and stablecoin operations, European banks have been building their infrastructure and expertise for years.

BBVA Spain’s recent announcement that its customers will soon be able to buy, sell, and manage Bitcoin and Ether directly through the bank’s app or Deutsche Börse, Germany’s main stock exchange, which plans to provide custody services for BTC and ETH are just the latest examples of this trend.

Europe’s leading banks, including several Global Systemically Important Banks (G-SIBs), have invested heavily in developing the necessary infrastructure and securing regulatory approvals.

This EU’s proactive approach, dating back to the E-Money Directive (EMD) in 2000 and further strengthened by the Payment Services Directive (PSD) and PSD2, has created a regulatory environment that encourages banks to open accounts for non-bank payment service providers. This has resulted in a more inclusive and competitive financial landscape, stated Hansen.

The implementation of the Markets in Crypto-Assets (MiCA) regulation is further paving the way for growth by providing a clear regulatory framework for banks to engage with cryptocurrencies.

EU’s Proactive Approach

Looking ahead, the EU Commission’s proposals to allow non-bank payment service providers direct access to central bank payment systems, such as SEPA, and to safeguard consumer funds directly with central banks, signal a continued commitment to innovation.

The recent passage of the Instant Payments Regulation (IPR) and the European Central Bank’s subsequent policy on access for non-bank payment service providers further solidify this direction.

“We will see several non-bank PSPs, including stablecoin issuers, settling SEPA payments directly through their respective central bank,” said Hansen, adding:

“It is therefore hardly a surprise that Europe’s banks seem to be more open towards regulated crypto firms. Rather, it is the result of an ongoing, +20 years old regulatory push to create clarity, competition and innovation in the EU financial landscape.”

The post Europe Leads in Crypto-Friendly Banking With Over 60 Banks Offering Crypto Services appeared first on Cryptonews.