Onchain sleuth ZachXBT has identified the mysterious whale who made a $20 million profit from highly leveraged trades on Hyperliquid and GMX as a British hacker named William Parker. ZachXBT revealed in a post on March 20 that Parker, formerly known as Alistair Packover, was arrested last year for allegedly stealing about $1 million from two casinos in 2023. Parker has a history of hacking and gambling, according to ZachXBT. The findings are based on a phone number provided by someone who received a payment from the whale trader’s wallet address. Public wallet addresses associated with the whale trader have also received proceeds from past onchain phishing schemes. The whale trader gained notoriety by profiting around $20 million from leveraged trades, with up to 50x leverage, on decentralized perpetual exchanges Hyperliquid and GMX. The trader caused Hyperliquid’s liquidity pool to lose $4 million by liquidating an approximately $200 million long position in Ether on March 12, while pocketing profits of $1.8 million. Hyperliquid clarified that the liquidation was not an exploit but a result of extreme trading conditions. The exchange revised its collateral rules to prevent similar incidents. The whale trader took another multimillion-dollar long position on Chainlink on March 14. Perpetual futures, or “perps,” are leveraged futures contracts with no expiry date, where traders deposit margin collateral, usually USDC for Hyperliquid, to secure open positions. Cointelegraph has not independently verified ZachXBT’s claims.