Hyperliquid 50x Leverage Whale Exposed: Fraudster William Parker’s On-Chain Scheme

Quick Take:

• On March 20, on-chain sleuth ZachXBT published an investigation report on X, claiming to have uncovered the true identity of the "Hyperliquid 50X leverage whale 0xf3F".

• ZachXBT traced the mysterious whale's identity back to fraudster William Parker, who has been accused of multiple criminal offenses including hacking and gambling.

On March 20, on-chain sleuth ZachXBT published an investigation report on X, claiming to have uncovered the true identity of the "Hyperliquid 50X leverage whale 0xf3F". According to ZachXBT, the individual in question is a known cybercriminal who turned stolen funds into a massive fortune through high-leverage trading on-chain. ZachXBT stated, "In January 2025 after exploiting a casino game and phishing victims, a person previously charged for multiple crimes gambled 6 figs into $20M using high leverage onchain."

High-Leverage Trades and Market Impact

In March 2025, the trading activities on DEX Hyperliquid and GMX of two mysterious addresses, 0xf3F, and 0xe4d3, drew significant attention. Notably, 0xe4d3 placed a massive 50x leverage long position on ETH and BTC shortly before U.S. President Donald Trump announced a crypto reserve plan, earning $10 million. Another mysterious address, 0xf3F4, executed a 40x leverage short position on BTC, netting $9 million.

On March 12, 0xf3F withdrew his margin and got intentionally liquidated, ending with a $1.8 million profit. However, this liquidation caused Hyperliquid's liquidity pool to suffer a $4 million loss within 24 hours. In response, Hyperliquid announced adjustments to its leverage limits, reducing the maximum leverage for BTC and ETH to 40x and 25x, respectively. This change aims to increase maintenance margin requirements for larger positions. "This will provide a better buffer for backstop liquidations of larger positions." Hyperliquid hoped.

The Criminal History of William Parker

ZachXBT's investigation revealed that wallets controlled by 0xf3F were linked to accounts on platforms such as Roobet, Binance, and Gamdom. One particularly suspicious connection was identified in January 2025, when a public address belonging to 0xf3F was listed as the receiving address for phishing website projection[.]fi. Approximately $171,000 flowed into this address. By analyzing a series of on-chain transactions, social media accounts, and other trading data, ZachXBT traced the mysterious whale's identity back to William Parker.

According to ZachXBT's findings, William Parker, also known as Alistair Packover (or William Peckover), has a long history of criminal activity. In the early 2010s, Alistair Packover made headlines in the UK for multiple fraud charges related to hacking and gambling. More recently, in 2023, William Parker was arrested for stealing approximately $1 million from two casinos and was subsequently sentenced in Finland. "It is abundantly clear WP/AP has not learned his lesson over the years after serving time for fraud and will likely continue gambling," ZachXBT remarked.

Twitter Drama and Silence

This whale has sparked widespread discussion on X for his frequent high-leverage trading activities. According to a post by @ai_9684xtpa, some traders even formed groups trying to "hunt the whale". Before investgation from ZachXBT, twitter user @qwatio had claimed to be the whale by linking his X account to his DeBank profile and posting a related tweet.

Operating under the Twitter handle MELANIA, @qwatio appeared to encourage followers to copy-trade on $MELANIA. When ZachXBT accused the whale of being "just a cybercriminal gambling with stolen funds" and teased the release of his findings, @qwatio firstly denied the allegations. However, interestingly, after ZachXBT published his report, @qwatio deleted all of his tweets, including the denial, and went completely silent.

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