An enigmatic trader, known as the Hyperliquid whale, who recently made a fortune of $192 million by betting against the market downturn, has now significantly increased their short position. Over the past two days, they have committed nearly half a billion dollars to this strategy.
Data from Hypurrscan, Hyperliquid’s block explorer tool, reveals that this whale has taken on a short position valued at approximately $496 million. This is leveraged at 10x with Bitcoin (BTC) facing liquidation if it reaches $124,270.
Their initial investment of $163 million in this venture has more than doubled since yesterday, marking another bold move against market trends within just one week.
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This crypto player first caught attention two months ago when they were found holding an astonishing $11 billion in BTC. Just last week, they placed shorts worth $900 million on both BTC and Ether (ETH).
The investor again drew notice after initiating a well-timed short position shortly before U.S. President Donald Trump announced tariffs on Friday, which subsequently triggered a crash in the crypto markets.
The community has nicknamed them “insider whale” due to such impeccable timing for their trades.
Who is behind these high-stakes moves?
The true identity of this wallet owner remains unverified; however, blockchain detectives over the weekend hinted at possible ties to Garrett Jin—former CEO of BitForex—a now-defunct cryptocurrency exchange platform.
A researcher named Eye initially accused Jin directly. Binance CEO even shared these allegations online while seeking confirmation from others like ZachXBT who later speculated that someone close but not necessarily Jin himself might be involved instead
“@cz_binance thanks for sharing my personal information publicly,” Jin retorted via social media Sunday.”To clarify I have no connections whatsoever with either Trump family members or @DonaldJTrumpJr—this isn’t insider trading,” he asserted further.
Soon after posting another message stating “the fund doesn’t belong solely under my name—it’s managed collectively alongside clients’ investments where we operate nodes offering exclusive insights.”
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