The Hyperliquid whale that profited $192 million from shorting the recent market downturn has intensified their position, now amassing nearly half a billion within the last two days.
As reported by Hyperliquid block explorer Hypurrscan, the whale’s current short position stands at approximately $496 million, utilizing 10x leverage with a Bitcoin (BTC) liquidation price set at $124,270.
The whale has significantly increased their stake since yesterday, having initially entered the market with $163 million. This marks another bold move against the market in the past week.
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The crypto investor gained notoriety two months ago, holding an impressive $11 billion worth of BTC. Last week, they initiated $900 million in shorts on BTC and Ether (ETH).
Attention returned to the whale when they opened a remarkably timed short position shortly before US President Donald Trump’s tariff announcement on Friday, which subsequently triggered a market crash.
The community has labeled the wallet owner as the “insider whale,” due to the peculiar timing of their short position.
Who is this notorious whale?
The identity of the wallet owner remains unverified; however, blockchain investigators over the weekend suggested a possible link to Garrett Jin, the former CEO of the now-defunct crypto exchange BitForex.
Initially, crypto researcher Eye pointed to Jin as the owner, prompting Binance’s CEO to share the thread on X and seek confirmation. Later assessments by sleuths like ZachXBT indicated it was more likely that it was one of Jin’s acquaintances.
Jin seemingly acknowledged the association on Sunday after responding to CZ on X.
“@cz_binance, thank you for sharing my personal and confidential information. To clarify, I have no ties with the Trump family or @DonaldJTrumpJr — this isn’t insider trading,” he stated.
Shortly thereafter, Jin posted again, clarifying that “the fund isn’t mine — it belongs to my clients. We run nodes and offer in-house insights for them.”
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