Author: Monicah W

ZachXBT’s investigation claims that the mysterious 50X Hyperliquid whale is actually a British cyber criminal named William Parker (formerly known as Alistair Packover). Parker has a long history of fraud, hacking, and casino theft.

This trader made headlines by profiting roughly $20 million from a series of highly leveraged trades

Who is William Parker, AKA the 50X Hyperliquid Whale?

The “50X Hyperliquid Whale” is the nickname given to a trader known for using extremely high leverage—up to 50x—on decentralized perpetual futures platforms like Hyperliquid and GMX. 

William Parker is a British cyber criminal with a long track record in hacking and fraud. 

“I tracked down a recent payment from  0xe4d3 to an unnamed person who confirmed they had been paid by the Hyperliquid trader. They provided a UK phone number used to communicate with them. Public record reveals the name William Parker is likely tied to this number,” wrote ZachXBT. 

He was arrested in 2023 for allegedly stealing around $1 million from two casinos. Even after serving time, Parker continued his illicit activities. 

Reportedly, he has been using phishing scams and other techniques to acquire funds. He later leveraged these in high-stakes crypto trading.

So, how did he actually make $20 million in a very short time? The answer is ‘using leverage’. 

Understanding 50x Hyperliquid Trades

In crypto, leverage means borrowing funds to increase the size of your trading position. In this case, the whale used up to 50× leverage. This means that even a small favorable move in an asset’s price could multiply his profits many times over. 

For example, if he had a 50× leveraged position and the price moved 2% in his favor, that 2% swing could translate into about a 100% gain on his original investment.

“A whale who opened a $450 million short position on btc with 40x leverage closed all their trades, making a $9.46M profit in 8 days. Although this person is referred to as a “Hyperliquid whale,” they are actually a criminal, gambling with stolen funds,” wrote Web3 attorney Langerius.

The trader, William Parker, as revealed by ZachXBT, opened very large positions in cryptocurrencies like Bitcoin and Ether during volatile market moments. 

He timed his trades when the market was moving rapidly earlier this month due to the whole White House Crypto Summit and Bitcoin reserve saga. 

The volatile market sentiment allowed him to move around big events or sudden price changes.

“When a whale shorts over $450 million in BTC and wants a public audience, it’s only possible on Hyperliquid. Anyone can photoshop a PNL screenshot. No one can question a Hyperliquid position, just like no one can question a Bitcoin balance. The decentralized future is here,” Hyperliquid wrote on X (formerly Twitter).

How Did Parker’s Leveraged Trades Affect the Market?

In some cases, his massive trades also forced other traders into liquidation. When a trader’s position is liquidated, the system sells its assets at a loss to cover the borrowed funds. 

This boosted the whale’s gains and also disrupted the market. Although using 50× leverage is extremely risky, Parker managed his trades carefully.

His strategy was successful enough that he reportedly made around $20 million from these high-stakes moves.

The post Who Is the 50X Hyperliquid Whale? ZachXBT Has the Answer appeared first on BeInCrypto.

Bitcoin was once considered the dominant currency in illicit transactions. However, it is now being replaced by privacy-focused cryptocurrencies like Monero (XMR), Zcash (ZEC), Dash, and stablecoins.

The primary reason for Bitcoin’s decline in illegal activities is its transparency.

Reasons for the Shift from Bitcoin to Privacy Coins

Bitcoin (BTC) once dominated illicit activities on the Dark Web, such as Nucleus Marketplace or Brian’s Club. The report from TRM Labs indicated that Bitcoin accounted for 97% of the total cryptocurrency volume associated with illegal activities in 2016.

However, by 2022, this figure had dropped sharply to just 19%, indicating a significant shift toward other cryptocurrencies. 

According to the TRM Labs’ report, illegal cryptocurrency activities involving Bitcoin will drop to just 12% by 2024. Tron (TRX) holds the top position with 58%. In another report from Chainalysis, stablecoins now account for the majority of total illicit transaction volume at 63%. The use of Bitcoin in illegal activities also recorded a significant decline.

White House Market, one of the largest Dark Web marketplaces, stopped accepting Bitcoin and exclusively used Monero (XMR) for transactions in 2020. 

“The Bitcoin workaround was supposed to be there just to help with transition to XMR and as we are concerned, it’s done, therefore we are now Monero only, just as planned,” stated White House Market.

Elliptic researchers uncovered $11 billion in illicit trades using USDT on Cambodia’s Huione Guarantee marketplace in July 2024. Japanese law enforcement tracked Monero, marking the country’s first arrest linked to Monero transaction analysis.

The decision was driven by Bitcoin’s limitations, particularly its blockchain transparency. This move reflected a strategic shift in Dark Web markets and highlighted the rise of privacy coins like Monero, which are designed to provide enhanced anonymity.

The Popularity of Privacy Coins on the Dark Web

The decline of Bitcoin in illegal activities is not coincidental but rather stems from its inherent limitations. First and foremost, Bitcoin’s blockchain is a public ledger. When combined with additional data such as IP addresses or exchange records, every transaction can be tracked.

This transparency has enabled law enforcement agencies like the FBI to use blockchain analytics tools from Chainalysis and Elliptic to dismantle major Dark Web markets. Examples include the Silk Road shutdown in 2013, AlphaBay in 2017, Hydra in 2022, and Incognito Market in 2024.

Additionally, Bitcoin faces technical challenges, including high transaction fees and slow confirmation times. In contrast, privacy coins like Monero, Zcash, and Dash leverage advanced technologies to ensure high levels of anonymity, making transaction tracking extremely difficult. The Research from ScienceDirect suggests that privacy coins are closely linked to Dark Web traffic, further increasing their popularity in illicit markets.

The Two Sides of the Shift to Privacy Coins

On the positive side, Bitcoin’s declining role in illegal activities may improve its reputation as a legitimate financial tool. This could lead to wider acceptance and attract more users and investors.

However, the shift from Bitcoin to privacy coins and stablecoins has made it more challenging for law enforcement agencies to track and prevent illegal transactions. Despite advanced blockchain analytics tools that can detect transaction trails through mixers and tumblers, dealing with Monero and other privacy coins remains a significant challenge.

Global regulators are increasingly scrutinizing privacy coins and stablecoins. Some countries have outright banned privacy coins, while stablecoins are subjected to stricter oversight.

The transition from Bitcoin to privacy coins and stablecoins on the Dark Web is a clear trend, driven by the growing demand for anonymity and efficiency in illicit transactions. While Bitcoin still plays a role in certain crypto-related crimes, its transparency makes it less attractive to the Dark Web.

Meanwhile, Monero, Zcash, Dash, and stablecoins have become the preferred choices due to their enhanced security and privacy. This trend poses significant challenges for law enforcement agencies while driving advancements in blockchain analytics tools. 

However, it also raises concerns about using cryptocurrencies in illegal activities, necessitating a balance between technological innovation and regulatory oversight to ensure transparency and security in the digital financial ecosystem.

The post Bitcoin Falls from the Shadows: Privacy Coins Now Dominate Dark Web Transactions appeared first on BeInCrypto.

Japanese Corporation Metaplanet has announced the appointment of Eric Trump, son of US President Donald Trump, as the inaugural member of its newly established Strategic Board of Advisors. 

The announcement made on March 21 highlights Metaplanet’s strategic intent to strengthen its influence within the global Bitcoin economy.

Eric Trump Joins Metaplanet to Strengthen Bitcoin Strategy

According to the official statement, Eric Trump’s appointment aims to leverage his vast experience in real estate, finance, brand development, and strategic business growth. Beyond his business credentials, Eric Trump has positioned himself as a key advocate for digital assets and blockchain innovation. 

He also serves as a Web3 ambassador for World Liberty Financial (WLFI), a Trump-backed decentralized finance (DeFi) project focused on advancing financial freedom through decentralized technologies.

“His business acumen, love of the Bitcoin community and global hospitality perspective will be invaluable in accelerating Metaplanet’s vision of becoming one of the world’s leading Bitcoin Treasury Companies,” said Metaplanet CEO Simon Gerovich.

Alongside Eric Trump, Metaplanet’s Strategic Board of Advisors will include other renowned industry leaders and financial experts. These individuals will remain committed to advancing the company’s Bitcoin mission and fostering financial innovation in the digital asset sector.

The appointment comes as Metaplanet intensifies its Bitcoin investment strategy. On March 18, the company announced the issuance of 2 billion yen ($13.4 million) in zero-coupon ordinary bonds. The proceeds will be dedicated to acquiring more Bitcoin. 

This aligns with Metaplanet’s ambitious roadmap. The company aims to amass 10,000 Bitcoins by the end of this year and 21,000 BTC by the close of 2026.

According to the latest data from Bitcoin Treasuries, Metaplanet currently holds 3,200 BTC, acquired at an average cost of $83,107 per coin. While this has resulted in a modest 1.8% profit, the firm remains vulnerable to Bitcoin price fluctuations. 

The company faced potential losses multiple times in March 2025, when Bitcoin’s price fell below its acquisition cost. In fact, last week, Bitcoin dipped as low as $76,555—its lowest price since November 2024—putting downward pressure on Metaplanet’s portfolio. Nonetheless, the market has seen a slight recovery since.

At the time of writing, Bitcoin was trading at $84,414. According to BeInCrypto data, this reflected a 1.54% decline over the past 24 hours. This offers a narrow margin of safety for Metaplanet’s holdings but underlines the ongoing volatility of the cryptocurrency market.

The post Metaplanet Expands Bitcoin Ambitions with Eric Trump’s Appointment to Advisory Board appeared first on BeInCrypto.

After the FOMC (Federal Open Market Committee) minutes and the digital asset summit on Wednesday and Thursday, respectively, approximately $2.09 billion in Bitcoin (BTC) and Ethereum (ETH) options expire today.

The expiration may influence market conditions, with investors monitoring potential shifts.

Over $2 Billion in Options Expiry Today

According to Deribit, $1.826 billion in Bitcoin options expire today. The maximum pain point of these contracts stands at $85,000.

These options include 21,596 contracts, slightly fewer than last week’s 35,176. Despite recent volatility, the put-to-call ratio of 0.83 indicates a general bullish sentiment.

Ethereum has $264.46 million in options expiring, involving 133,447 contracts. This figure is also lower than the previous week’s 223,395 contracts. The maximum pain point for these options is $2,000, and the put-to-call ratio is 0.62.

As the options contracts near expiration at 8:00 UTC today, Bitcoin and Ethereum prices are expected to approach their respective maximum pain points. According to BeInCrypto data, BTC traded for $84,414, whereas ETH exchanged hands for $1,977.

This suggests a modest upside for Bitcoin and Ethereum towards the $85,000 and $2,000 strike prices, respectively. This surge is plausible given smart money’s Strategy in options trading, pushing prices toward the “max pain” level. Here, the highest number of contracts, both calls and puts, expire worthless.

“Will we see a volatility squeeze or a slow unwind?” Deribit posed in a post on X (Twitter).

Based on Bitcoin and Ethereum’s put-to-call ratios, both below 1, call options (purchases) have a higher prevalence than put options (sales).

Market Sentiment Ahead of Today’s Options Expiry

Analysts from crypto options trading tool Greeks.live provided insights on the current market sentiment, highlighting a divided trader community. On the one hand, some expect a price drop after the FOMC meeting, as policymakers rejected further interest rate cuts, effectively disappointing the crypto market.

On the other hand, some anticipate a temporary rise before choppy conditions. With this, the analysts note the range between $83,000 and $85,000 as the area of interest, with expected volatility around President Trump-related developments and potential MicroStrategy (now Strategy) purchases.

“Expect chop and drift lower before heading higher again on Monday, despite the current pump not being viewed as sustainable,” Greeks.live analysts observed.

Elsewhere, BeInCrypto reported that Bitget exchange CEO Gracy Chen is confident BTC will hold above the $73,000 to $78,000 range, paving the way for a potential rally to $200,000. She attaches her optimism to the US strategic Bitcoin reserve’s potential to drive institutional legitimacy and long-term price stability.

Even as Bitget’s Chen remains optimistic, traders and investors should brace for short-term volatility. Historically, options expirations tend to cause temporary price movements. However, the market usually stabilizes shortly after.

This calls for vigilance and analysis of technical indicators and market sentiment to manage potential volatility effectively.

The post Over $2 Billion Bitcoin and Ethereum Options Expire After FOMC and Digital Asset Summit appeared first on BeInCrypto.