On Tuesday, an infamous trader nicknamed the “Hyperliquid whale” closed a leveraged short bitcoin position of over half a billion dollars on the decentralized perpetual trading platform.
Blockchain analytics platform Spot On Chain identified the trader’s wallet address as “0xf3F…7057c.” The wallet had a short position of 6,210 BTC ($520 million) with a 40x leverage. On Tuesday, the trader exited the position with over $9.4 million profit, data from block explorer Hypurrscan shows.
The same person is believed to have previously built a long position in ether, reaching over $300 million last week. This position was later liquidated, leaving Hyperliquid’s HLP (Hyperliquidity Provider) vault with a $4 million loss.
According to Hypurrscan data, “0xf3F…7057c” currently holds a 5x long position on the Melania memecoin worth $3.3 million.
Meanwhile, blockchain sleuth ZachXBT claimed on X that this trader could be a cybercriminal. “It’s funny watching CT speculate on the “Hyperliquid whale” when in reality it’s just a cybercriminal gambling with stolen funds,” he commented.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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