Hyperliquid Bitcoin Whale Speculated to be a Cybercriminal

• Hyperliquid whale short closed their position with a $9 million profit
• CT thinks this might be a cybercriminal gambling stolen funds
• A trader opened a massive $376 million short position on Bitcoin with 40x leverage

Cyber Twitter (CT) had its hands full in the last few days when a big cryptocurrency trading event took place on the decentralized exchange Hyperliquid. Namely, a whale who’d shorted Bitcoin, walked away with a $9 million profit.

Now, there’s speculation that the whale might have been a cybercriminal using stolen funds. One X user, ZachXBT, seemed to be pretty confident in the allegation but didn’t want to disclose any more details yet.

What Exactly Happened with the Whale’s Trade?

This entire ordeal started when a trader opened a massive $376 million short position on Bitcoin with 40x leverage, sparking intense market activity on the Hyperliquid platform. This position also drew the attention of other traders who attempted to coordinate a buying surge to drive Bitcoin’s price up and trigger the whale’s liquidation, potentially causing a short squeeze.

In the end, the whale “won”, earning $9 million in profit, as the CT declared…

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